Extremely large datasets consisting of structured, unstructured, and semi-structured data that traditional data processing software cannot handle are called big data. Big Data is defined by its 5 V’s – Velocity, Veracity, Volume, Variety, and Value. Velocity at which data is generated, Veracity to which data conforms, Volume of data handled, Variety of data types stored, and finally the Value the data provides in a business context. There are dedicated systems to mine Big Data for deep insights that aid in data-driven decision-making.

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