B9DM105 Data and Digital Marketing Analytics - CA1 - Lakshmi Narayanan - 10526790



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5 Artificial Intelligence Trends in Marketing 2020

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Big data is not just large very large sets of data. While Big Data has many characteristics (Kitchin and McArdle, 2016), there must be 3 main dimensions for a dataset to get qualified as Big Data often referred as the 3V’s, namely Volume, Velocity and Variety. To simply explain these dimensions, let’s take the example of the online retailer Amazon.com. Volume : Volume refers to the size of data that is being collected, processed, analysed and stored. For example, Amazon.com’s average monthly traffic is more than 2 billion which includes its 150 million App users who browse through the estimated 120 million products sold by around 2.5 million sellers (Oberlo.com, 2019) . This huge traffic base generates a great volume of data points, in terms of orders, transactions, inventory changes, customer communications etc and need to be managed properly. Velocity :  Velocity refers to the speed with which data is collected, processed, analysed and stored. Amazon.com sells around 40
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