What is the difference between Data and Big Data?
Data is defined as statistics and facts that are collected together to reference or analyze.
Big Data is a complex collection of data from multiple sources, rapidly accumulated for ongoing discovery and analysis. In-depth analyses of big data is instrumental in risk reduction, cost reduction and greater operational efficiency for any industry.
Big Data and its proper analysis is crucial for operators, investors, legislators, and researchers alike to make educated decisions based on true statistically meaningful facts.
The difference between Data and Big Data can be summarized by noting the 3 key areas of differentiation: Velocity, Volume, and Variety, whereby Big Data must cover millions of data points, across many data sets, as close to real time as possible.