Big data is a collection of data from a range of sources that is usually described in terms of five characteristics: volume, value, diversity, velocity, and veracity.
The size and amount of big data that corporations manage and analyse is referred to as volume.
The value of big data comes from insight discovery and pattern detection, which leads to more productive operations, greater customer relationships, and other clear and provable economic benefits.
Unstructured data, semi-structured data, and raw data are only a few examples of the variety of data kinds available.
Velocity refers to the rate at which businesses collect, retain, and manage data - for example, the amount of social media postings or search queries received in a given day, hour, or other time period.
Veracity refers to the "truth" or accuracy of data and information assets, which is typically used to assess executive trust.