'3 Vs - Volume, Velocity & Variety'

The big data concept is much fast and complex that leads to a large amount of information that is being collected and accumulated for better feedback. Generally, the idea of big data analytics deals with the idea of triple v's. They are:

Volume

Organizations are always on the lookout to provide vast amounts of data that needs to be segregated to store data on cheap platforms. When the concept of big data analytics is mainly concerned with the social media concerns, then it can be seen that from the massive volume of the data that is processed by YouTube, twitter or Face book is being used by several portals on a daily basis.

Velocity

It is mainly concerned with the speed by which the data flows into the organization. The velocity of data analytics is generally needed to identify the rate at which a particular data is being flown to the specific sector (Erevelles et al. 2016). Talking about the general social media sites like YouTube, Face book huge or Google colossal information is being over flown every day, which is generally called the nuclear data explosion. Big data analytics help the organizations to control the data inflow and outflow in a more systematized way so that the time of processing the data is saved.

Variety

The different types of data are being dealt with here. The data process deals with the structured and unstructured ones that can be generated and used both by humans and machines. The most used data structures are being used by the organizations are the voice mails, hand-written texts or the audio recordings that are needed to categorize the incoming data into various categories.

Figure 3: The Triple V’s in Big Data Analytics

(Source: blog.k2datascience.com)

According to the concept of the triple v model, the challenges that are being faced by big data results from the explanations of the above models and proper analytics so that vast amounts of data can be maintained and analyzed for better feedback and control of relevant resources.

Reference List

Journals

Mitić, V., 2019. Benefits of Artificial Intelligence and Machine Learning in Marketing. In Sinteza 2019-International Scientific Conference on Information Technology and Data Related Research (pp. 472-477). Singidunum University.

Saeed, A.A.A.S., Arous, S.A.E.H. and Ahmed, G.N., 2018. Using of Electronic Marketing Channels in Building Customer Loyalty in Hotels. Journal of the Faculty of Tourism and Hotels-University of Sadat City Vol, 2(1).

Stone, M., Woodcock, N., Ekinci, Y., Aravopoulou, E. and Parnell, B., 2019. SCHEMA: Information on marketing and customer engagement performance–reality versus dreams. The Bottom Line, 32(1), pp.98-116.

Zhang, N., Yang, P., Ren, J., Chen, D., Yu, L. and Shen, X., 2018. Synergy of big data and 5g wireless networks: opportunities, approaches, and challenges. IEEE Wireless Communications, 25(1), pp.12-18.