Five Key Elements of Big Data

Requirements Clarification & Assessment

1. Volume:

   • Clarification: Understand the scale of data you will be dealing with. This includes historical data storage and real-time data ingestion.
   • Assessment: Evaluate the current storage systems and processing capabilities.
   • Key Questions: What is the current data size? How much data is expected to grow over time?

2. Velocity:

   • Clarification: Determine the speed at which data must be processed to meet business needs.
   • Assessment: Identify bottlenecks in data ingestion and processing.
   • Key Questions: What are the latency requirements? Is real-time processing necessary?

3. Variety:

   • Clarification: Identify the different data formats and sources that need to be integrated.
   • Assessment: Evaluate the compatibility of existing systems with diverse data types.
   • Key Questions: What are the primary data sources? Are there unstructured data types involved?

4. Veracity:

   • Clarification: Define the level of data accuracy and trustworthiness required.
   • Assessment: Analyze the current data quality and identify areas for improvement.
   • Key Questions: How is data quality currently measured? What are the common errors?

5. Value:

   • Clarification: Understand the business objectives and the insights expected from data.
   • Assessment: Evaluate the cost versus benefit of data processing.
   • Key Questions: What insights are critical to the business? How is data value currently assessed?