The question may seem trivial, but it is actually very important, as certain types of data are used to solved different kinds of problems. This means that a business that is leveraging data must do so in the right way if it wants usable results.
In a recent interview with CXOTalk, Dun and Bradstreet Chief Data Scientist Anthony Scriffignano, explained the difference between big data and smart data, and how businesses should go about solving their problems with data.
Big data often deals with what are known as the five Vs: volume, velocity, veracity, variety, and value. And, when any one of those Vs of your data begin to overwhelm your attempts to control it, you have a big data problem.
Smart data, however, is a little more nuanced.
“The smart data is the subset of that data that will actually apply to your problem—that can be used intelligently in a way that takes you towards a solution,” Scriffignano said.
Although, he said, it doesn’t have to take you directly toward a solution in his opinion. It could also help you, or your organization, either break a large problem down into a smaller problem by eliminating variables, or it could also help surface a question that needs to be asked of your problem.
So, how does one begin their big data journey? For starters, you always begin with the problem that your organization is trying to solve.;