The Big data concept is defined around four key characteristics: data volume, data velocity, data veracity and data value. While the volume and velocity characteristics are concerned with the data generation process as well as how to capture and store the data, the veracity and value characteristics primarily deal with the quality and the usefulness of the data. Leading experts have identified an imbalance, where excessive “useless data” is inhibiting our ability to make utilize of “useful data”. If we continue to focus on the volume and velocity aspects, we create a big data problem – essentially data comprising of too much ‘noise’. However, if we shift our focus to smart data (veracity and value) we can filter out the noise and hold the valuable data, which can be effectively used by the enterprise to solve problems. Then issue comes from deciding what is quality and what is noise. However, by analysing data qualitatively rather […]