Incredible amounts of event data that are being recorded. When people talk about Big Data talk about the exponential growth of data: the exponential growth of the number of transistors on a chip. And this was predicted by the founder of Intel, Moore, and this exponential growth has continued over the last 40 years. Every 2 years, the numbers of transistors on a chip is doubling, so that means that on a chip now there are 1 million times the number of Transistors as there was 40 years ago.
The challenge today is not to generate more data, but the challenge today is to turn this data into real value. And this is a crucial topic.
The four "V" of Big Data are:
1) Volume: we are generating data
2) Velocity: large amount of data are continously adding in a rapid way
3) Variety: we are talkig about many differentetype of data
4) Veracity: you are not sure that the data collected are true
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