Chapter 3

Key Big Data Concepts

In This Chapter

arrow Getting an overview of big data concepts

arrow Understanding the business impact of big data

arrow Diving deep into case studies from various industries

Big data has an extremely disruptive impact on most industries, and it’s expected to change the way business leaders will plan and run their businesses. IT leaders are also challenged to manage their IT infrastructure and meet the new set of requirements driven by big data. IT vendors must redesign their products to meet the demand created by big data. Even though big data will impact most industries, the initial impact will be seen by selected industries that are more IT led and data driven than others.

In this chapter, I take a look at how big data affects several industries including risk and compliance, financial services, government, retail, and healthcare.

The Four V’s of Big Data

The general consensus of the day is that there are specific attributes that define big data. In most big data circles, these are called the four V’s: volume, variety, velocity, and veracity. (I like to add a fifth V, value.) I cover the four V’s at a high level in Chapter 1, but I go into more detail on them here. ...

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