Developing Data through 3Vs

One of the capabilities to collect data could be highlighted for the structure and unstructured way that companies are using. Structure data are related to traditional terms such a name, number, address, and unstructured is every data which is collected from emails, photos, videos, and social media. Unstructured data is ongoing to be representing 80% of the collection being much bigger than structure data around the world. (Marr, 2019)

 Data is very important in Digital Marketing because companies can create better decision making to drive their strategies, but how could companies define the collection of data? It could be explained for 3Vs data; volume, velocity, and variety.

• Volume: this point is related to how the amount of Data that is begin collected from different sources such an example, Business Transactions smart (IoT) devices, videos, social media, etc. The challenge here is bringing the whole data and analyze them. (O`Reilly Media , 2018) 

• Velocity: Speed that data are being collected is the concept that could explain velocity. Companies must get information in real-time. The Internet is growing every day, and data must be analyzed once they show up. Big Data is taking advantage of the explosion of data generated by social media and companies must be aware that proper software should be used to the incoming flow data. (wishworks, 2017) 

•  Variety: Data can be found in different types of formats. A variety of data is important to create better strategy and value, especially in a marketing environment. Structured and unstructured. 

Companies collect data to develop value and provoke a competitive advantage. If they had volume, velocity, and variety we would be talking about Big Data however it could be risky for companies` standard approaches. They should develop those collection of data according to their strategies and goals.

 References: 

 Marr, B., 2019. Forbes. [Online] Available at: https://www.forbes.com/sites/bernardmarr/2019/10/18/whats-the-difference-between-structured-semi-structured-and-unstructured-data/#65b64ca92b4d [Accessed 19 October 2019].

O`Reilly Media , 2018. https://www.forbes.com/. [Online] Available at: https://mj-dbs.blogspot.com/2020/02/dimensions-of-big-data-3vs.html?spref=tw [Accessed 03 February 2020].

wishworks, 2017. https://www.whishworks.com. [Online] Available at: https://www.whishworks.com/blog/big-data/understanding-the-3-vs-of-big-data-volume-velocity-and-variety [Accessed 03 February 2020].