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Big and Small Data

The document discusses the differences between big and small data, highlighting their unique roles and challenges in data analysis. Big data, while more complex and challenging to manage, offers significant benefits such as identifying trends and improving business efficiency, whereas small data is easier to handle and typically used by smaller organizations. Additionally, it introduces the three Vs of big data: volume, variety, and velocity, with a fourth V, veracity, emphasizing the importance of data quality.

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3 views

Big and Small Data

The document discusses the differences between big and small data, highlighting their unique roles and challenges in data analysis. Big data, while more complex and challenging to manage, offers significant benefits such as identifying trends and improving business efficiency, whereas small data is easier to handle and typically used by smaller organizations. Additionally, it introduces the three Vs of big data: volume, variety, and velocity, with a fourth V, veracity, emphasizing the importance of data quality.

Uploaded by

oana.huza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Big and small data

As a data analyst, you will work with data both big and small. Both kinds of data are valuable, but
they play very different roles.

Whether you work with big or small data, you can use it to help stakeholders improve business
processes, answer questions, create new products, and much more. But there are certain
challenges and benefits that come with big data and the following table explores the differences
between big and small data.

Small data Big data

Describes a data set made up of specific metrics Describes large, less-specific data sets that cover a long time
over a short, well-defined time period period

Usually organized and analyzed in spreadsheets Usually kept in a database and queried

Likely to be used by small and midsize businesses Likely to be used by large organizations

Simple to collect, store, manage, sort, and visually Takes a lot of effort to collect, store, manage, sort, and visually
represent represent

Usually already a manageable size for analysis Usually needs to be broken into smaller pieces in order to be
organized and analyzed effectively for decision-making
Challenges and benefits
Here are some challenges you might face when working with big data:

● A lot of organizations deal with data overload and way too much unimportant or irrelevant
information.
● Important data can be hidden deep down with all of the non-important data, which makes it
harder to find and use. This can lead to slower and more inefficient decision-making time
frames.
● The data you need isn’t always easily accessible.
● Current technology tools and solutions still struggle to provide measurable and reportable
data. This can lead to unfair algorithmic bias.
● There are gaps in many big data business solutions.

Now for the good news! Here are some benefits that come with big data:

● When large amounts of data can be stored and analyzed, it can help companies identify
more efficient ways of doing business and save a lot of time and money.
● Big data helps organizations spot the trends of customer buying patterns and satisfaction
levels, which can help them create new products and solutions that will make customers
happy.
● By analyzing big data, businesses get a much better understanding of current market
conditions, which can help them stay ahead of the competition.
● As in our earlier social media example, big data helps companies keep track of their online
presence—especially feedback, both good and bad, from customers. This gives them the
information they need to improve and protect their brand.

The three (or four) V words for big data


When thinking about the benefits and challenges of big data, it helps to think about the three Vs:
volume, variety, and velocity. Volume describes the amount of data. Variety describes the different
kinds of data. Velocity describes how fast the data can be processed. Some data analysts also
consider a fourth V: veracity. Veracity refers to the quality and reliability of the data. These are all
important considerations related to processing huge, complex data sets.

Volume Variety Velocity Veracity

The amount of The different kinds of How fast the data can be The quality and reliability of the
data data processed data

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