The 5 V's of Big Data

Big Data is an area of technology that studies how to treat, store, and obtain information through big data. When used correctly, Big Data helps the company to better understand the needs, habits, and behaviors of its customers. 

To be assertive, Big Data works on 5 pillars: speed, volume, variety, veracity, and value. When well articulated, they bring several possibilities, advantages, and benefits to the company.

Get to know each of the 5 V's of Big Data

  1. Speed

Thinking about the strategic use of Big Data, the speed with which data is collected, organized and analyzed is crucial to maintain an edge over competitors. The shelf life of some data is short, so one must always be careful about the timing of processing, because if outdated, the information collected can become worthless to the market. So it is necessary to work on information processing in near real time

  1. Volume

The amount of existing data is immeasurable, after all every object or person connected to the internet constantly generates data. Therefore, every company needs to know where to seek the necessary information within this sea of data generated daily in ever-increasing quantities. It is necessary to always seek new ways to collect useful information for the development of strategies

  1. Variety: 

There is structured data, presented as spreadsheets and CSV or XLSX files, but this is not the only way that information exists. Unstructured data is data that we find in different formats such as videos, media files, images, text, or audio. In addition, data can come from many different sources, such as social networks, applications, cookies, emails, IoT, and many more, each offering different types of information following their own patterns. You need tools that can process and group the data in a coherent way

  1. Veracity

It is necessary to always be aware of what is relevant and true, not all information available corresponds to the current reality, there are false data generated with ulterior motives, and there is also outdated data that was once true but is now irrelevant, both of which can mean strategy failure. Thus, the challenge of Big Data is to separate the important information from the rest

  1. Value 

There is no point in having a good amount of relevant data processed quickly if it cannot add value to the company. It is necessary to carefully analyze the information collected and understand how it can be useful, in which strategies it can be used, and how it will be used as well. Not all information is relevant to the particular and specific objectives of each company

About Indico

Indico is a Brazilian Martech company with an experience that has reached more than 150 million customers in 9 countries, that develops solutions to combine Loyalty and Innovation creating unique connections between consumers and brands.

We create solutions that boost relationships and transform results. 

Disruptive campaigns, programs and projects that connect ideas, innovation, data and technology to engage, delight and retain customers. We generate data-driven insights and new opportunities, developing the customer experience with the brand. 

Contact us to find out how we can create more loyalty for your brand and boost your results!