Answers Explanation & Hints:
- Volume: refers to the scale or size of data being generated, transported, and stored. With the increasing amount of data being generated, companies need to find ways to handle and process this large volume of data.
- Variety: refers to the different types of data available, such as structured, semi-structured, and unstructured data. With big data, businesses need to find ways to manage and analyze different data types to gain insights and make data-driven decisions.
- Velocity: refers to the speed at which data is being generated, transported, and processed. With the increasing amount of data being generated, businesses need to be able to process and analyze data in real-time to keep up with the pace of data flow.
- Veracity: refers to the quality and accuracy of the data being generated, transported, and stored. With the increasing amount of data being generated, there is also an increasing amount of inaccurate or unreliable data that can spoil data sets. Therefore, it is important to ensure that data is clean and accurate to avoid making wrong decisions based on inaccurate data.
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