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Understanding the Customer through Big Data and Small Data

May 14, 2019

Big Data How is it defined? Gartner’s early definition remains widely accepted: ‘Big Data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.’In recent years, some definitions include additional ‘Vs’: Veracity how accurate is the data, and Value how useful is the data.
Small Data How is it defined? There’s little agreement on the definition of Small Data. Allen Bonde, one of the earliest users of the term, defines it as connecting people with timely, meaningful insights (derived from big data and/or “local” sources), organized and packaged often visually to be accessible, understandable, and actionable for everyday tasks.’Martin Lindstrom defines it as ‘the tiny clues that uncover huge trends’, based on observational data. It’s also defined as data that is small enough size for human comprehension.

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Understanding the Customer through Big Data and Small Data