The four big data analytics capabilities and how they can transform an organisation | The Oxford Review - OR Briefings

The four big data analytics capabilities and how they can transform an organisation

Research Briefing

Keywords: big data, big data analytics, organisational transformation, organisational change, evidence-based practice

Big data

Big data analytics refers to the analysis and interpretation of data sets that are so large and complex that normal methods of analysis and software are inadequate to deal with them. There are considered to be five dimensions of big data:

1. Volume
2. Variety
3. Velocity
4. Veracity
5. Value

The idea behind big data is to be able to spot trends and patterns in incredibly large datasets, that may come from a variety of sources and, at first sight, appear unconnected. Big data also looks at information that is disparate and seemingly unconnected, or that occurs either over very long periods of time or incredibly fast (seconds or even nanoseconds) and usually has a lot of predictive value.

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