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M digital trails

the phenomena where technologies produce digital trails in massive amounts, from a variety of sources, processed at a fast rate, enabling more precision, that can all be analyzed to come up with new discoveries.

The 4 V's of Big Data
Volume
Volume

The amount of data that is stored, retained and processed by companies per day.

Variety
Variety

The number of data sources where data is sourced from, as well as the number of external systems that needs to be integrated. The type of data is also a consideration-- unstructured or structured-- as it will inform the opportunities are available to combine, process, and analyze data.

Velocity
Velocity

The growth of data per day. The rate of data growth is a critical factor; the smallest data point per second that could lead to exponential growth of data sets. This has implications on reaction speed of systems in storing and processing data, as well as competitive considerations.

Icon veracity
Veracity

The accuracy and predictability of data. This determines how useful the data is, and how it could potentially help companies forecast sales and determine the viability of tactical plans.

Why is Big Data important?
Business
Business & Governments

Discovering new ways to make use of data is a shift in mindset. It leads to new information and methods of analyses, which can lead to deeper insights, and in turn leads to new decisions and improved strategies.

Consumers
Consumers

Gaining an understanding of the role of data in how companies determine what, when, where and to whom they communicate, such as relevant promotional messages and product offerings based on behaviors and personal preferences, leads to becoming more informed.

It is changing the way business, governments and consumers interact with each other all around the world.

Data means
Data Means Accountability

It means becoming more aware of what works and what doesn't, what's efficient and what isn't -- all of which encourages transparency and greater performance -- creating a world powered by insights and better decision-making.

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