NTENT CTO Dr. Ricardo Baeza-Yates Featured in KD Nuggets: BIG, small or Right Data: Which is the proper focus?
According to Dr. Baeza-Yates, we find ourselves swimming in a vast sea of data collected from our computer networks, social media profiles, mobile phone sensors and so much more. All this information can be characterized and broken down to a useful data format according to the five V’s of Volume (size of the data), Variety (diversity of the content), Velocity (the rate it’s produced), Veracity (the quality of the content) and Value (its business impact).
While the task of processing this endless source of information has pushed computer science to new limits, many businesses struggle to capitalize on the advantages of big data due to factors such as cost restraints and limited resources. Instead, most companies benefit more by embracing the rewards reaped from the smaller data sets that big data generates.
Dr. Baeza-Yates illustrates the significant value nestled within small data. Due to its availability, precision, and completeness as well as its common connection to people and communities in a context that’s more easily understood, small data often spurs innovation. However, in his article, Dr. Baeza-Yates points out that smaller data doesn’t necessarily translate to simpler solutions. Businesses still need to think strategically regarding the category and quantity of data they need for the most practical applications. Factors such as scope, flexibility, and privacy all contribute to the complex decisions derived from delving deeper into small data.
For additional information on whether big data or small data is a better solution for your business, read Dr. Baeza-Yates full article here.