'Big data' is the new buzzword in academic as wen as industry circles. Laney (2001) came up with the three Vs that characterize big data - volume, velocity and variety. When talking about big data one is usually referring to a huge volume, in terabytes rather than gigabytes, that is captured either across cross-section or across time or more likely across both i.e. as a panel. However it is the sheer size of the data set that puts big data in an entirely different category requiring a special set of analytical tools and approaches for extracting information and also data storage for future retrieval and analysis.
|Title of host publication||Big Data & Analytics for Business|
|Editors||Vikas Kumar, Saurabh Mittal|
|Place of Publication||India|
|Publisher||Society for Education & Research Development|
|Number of pages||5|
|Publication status||Published - 2014|
Kumar, K., & Bhattacharya, S. (2014). Making sense out of big data - popular machine learning tools in business analytics. In V. Kumar, & S. Mittal (Eds.), Big Data & Analytics for Business (pp. 81-85). India: Society for Education & Research Development .