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Volume. IBM estimated in 2013 that every day, we create 2.5 quintillion bytes of 

data. This rate of growth means that 90% of the data in the world today has been 

created in the past two years alone! By comparison, all of Earth’s oceans contain 

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352 quintillion gallons of water; if bytes were buckets, it would only take about 

20 weeks of  information-  gathering to fill the seas.

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Variety. That’s variety in formats of data from structured and unstructured data 

such as text, sensor data, audio, video, click streams, log files and more. New 

insights are found when analysing these data types together.

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Velocity. Velocity refers to exploiting data in real time. For example, catching online 

fraud requires that data must be reviewed rapidly to detect problems. For  time- 

 sensitive processes such as catching fraud, Big Data must be used as it streams 

into your enterprise in order to maximise its value.