Big Data has three distinct characteristics: volume, velocity, and variety. These characteristics distinguish Big Data from traditional data.

Volume:

Large volume of Big Data presents data management problems, this volume also makes Big Data incredibly valuable. Irrespective of their source, structure, format, and frequency, data are always valuable.

If certain types of data appear to have no value today, it is because we have not yet been able to analyze them effectively.

For example, several years ago when Google began harnessing satellite imagery, capturing street views, and then sharing these geographical data for free, few people understood its value. Today, we recognize that such data are incredibly useful (e.g., consider the myriad of uses for Google Maps).

Consider machine-generated data, which are generated in much larger quantities than nontraditional data. For instance, sensors in a single jet engine can generate 10 terabytes of data in 30 minutes. With more than 25,000 airline flights per day, the daily volume of data from just this single source is incredible.

Smart electrical meters, sensors in heavy industrial equipment, and telemetry from automobiles increase the volume of Big Data.

Velocity:

The rate at which data flow into an organization is rapidly increasing.

Velocity is critical because it increases the speed of the feedback loop between a company and its customers.

For example, the Internet and mobile technology enable online retailers to compile histories not only on final sales, but on their customers’ every click and interaction. Companies that can quickly utilize that information-for example, by recommending additional purchases-gain competitive advantage.

Variety:

Traditional data formats tend to be structured, relatively well described, and they change slowly.

Traditional data include financial market data, point-of-sale transactions, and much more. In contrast, Big Data formats change rapidly.

They include satellite imagery, broadcast audio streams, digital music files, Web page content, scans of government documents, and comments posted on social networks.