Big data refers to huge amounts of data from various sources that traditional data management systems cannot handle. It is characterized by volume, velocity, variety, and veracity. Handling big data requires expertise in security, management, and analytics. Data scientists use descriptive, diagnostic, predictive, and prescriptive analytics techniques on big data to create business insights and decisions using business intelligence tools. While big data offers opportunities, it also poses risks like bad data, security issues, and costs if not properly analyzed and managed.
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