What is Big Data Velocity?

What is big data velocity? Volume and variety are important, but big data velocity also has a large impact on businesses.

Data does not only need to be acquired quickly, but also processed and used at a faster rate. “Many types of data have a limited shelf-life where their value can erode with time—in some cases, very quickly.”

Analyzing data quickly can alert businesses to stocking issues fast so the problem can be solved before it gets worse. Data velocity can also speed up the decision-making process to keep up with market changes.

How can big data velocity work for your business?

Data velocity and accessibility continue to be a large challenge for manufacturers, due to a variety of reasons. Manufacturers are faced with complex infrastructures that create data silos, integrating smart manufacturing processes and tools can be expensive, and even when initiatives are taken to extract and share data, the failure rate for these projects is incredibly high.

In "Democratizing Data", we discuss the concept of data democratization in regards to the manufacturing industry, outline a variety of real-world use cases, and offer a three-step approach for enabling machine data democratization. Read the eBook.