4.1 Data

Question 1

Define Data

Answer 1

Collection of facts

Question 2

What is obtained from data?

Answer 2

All knowledge

Question 3

Why is it vital to look after data (and information)?

Answer 3

Accurate
Unique
Secure

Question 4

Define Big Data

Answer 4

Data that’s so large, fast or complex that it’s difficult / impossible to process using traditional methods

Question 5

Who articulated big data as the three V’s and when did it happen?

Answer 5

Doug Laney

Early 2000’s

Question 6

What are the three V’s?

Answer 6

Volume
Velocity
Variety

Question 7

Define each of the three V’s

Answer 7

Volume:
Organisations collect data from variety of sources 
Business transactions
Smart IOT devices
Industrial equipment
Videos 
Social media

Velocity:
Data streams into business at unprecedented speed (real time) and must be handled in timely manner

Variety:
Data comes in all types of formats
Structured - numeric data in traditional databases
Unstructured - text documents, emails, videos, audios, stock ticker data, financial transactions

Question 8

What are the big 10 applications of big data?

Answer 8

1. Banking
2. Communication, media, entertainment
3. Healthcare
4. Education
5. Manufacturing and natural resources
6. Government
7. Insurance
8. Retail and wholesale
9. Transport
10. Energy and utilities