Volume, velocity and variety - these are the factors that affect big data analysis. Generally, the volume of data organisations handle can be anywhere from megabytes to terabytes and even petabytes. When talking in terms of velocity, data has gone from being handled in batches to being processed in real time. Organisations also have to deal with the variety of data, as the data that comes to them is diverse - from simple tables and databases to photos and unstructured web, mobile and social data.
In short, when the amount of data gets too big to handle then it is categorized as big data. Big data analysis is the future, where lightning-fast data processing and equally fast data storage and updates will become the norm for the industry.
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