Big Data:

Big Data refers to data characterized by a particularly large volume, variety, and velocity (sometimes also called the 3 V’s), and the associated field of managing, analyzing and deriving value from such data.

Volumes of data are ever-growing in the digital age, with more and more data sources, new types of data, and unprecedented data storage capabilities. Similarly, there is an ever-increasing variety of data, with new formats of data arising time after time, in particular in the form of unstructured data. Velocity of data is accelerating, which means data can change fast, through trends such as real-time and event-based data and evolving technologies that support these.

Big data has opened up entirely new opportunities for organizations looking to derive insight, build new products, and make decisions based on information. But at the same time, the data sets can be so complex they often challenge traditional ways of managing or processing them. From a privacy perspective, big data has brought a host of new challenges, as it’s vulnerable to a number of new, and sophisticated attacks, such as linkage attacks, or reconstruction attacks. Fear of the risk associated with privacy often keeps businesses from exploiting the full potential of the big data that exists in their organization.

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