Big Data

"Big Data" stands for

  • Volume - large amounts of data collected on the internet or  elsewhere, being made available and evaluated.
  • Velocity - amounts of data which are very quickly, often in real time broardcasted.
  • Variety - a variety of structured but also unstructured data that are processed.

The data used are often personal. They can be separated from the collection, use for many purposes, eg. as to detect statistical trends.

"Big Data" opens up new opportunities - new business models that can help to attract new customers or existing customers to propose new business.

"Big Data" also carries risks - the possibilities of misuse of data and findings: If large amounts of data merged, then the exploitation lead to a violation of personal rights and the constitutionally protected privacy.

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