Volume: The increasing size and amount of data being generated.
Variety: The increasing range of formats and kinds of data, from structured numerical databases and spreadsheets to unstructured text, video and images.
Velocity: The increasing rate at which data is produced.
Others have since built on that model, among them Bob Blondin, vice president of learning strategy at Xerox.
For learning and development, Blondin said two more V’s are in order. The first is veracity: the ability to trust the data that you have. “One of the challenges … given all the data that I can now use to make learning decisions [is] which of it can I really trust?” Blondin said.
“Related to that is the fifth: value,” he said. “What does the data really mean and how can I use that data in making the kind of decisions that need to be made?”
“I certainly don’t think it’s pure hype,” Blondin said. “I think there’s really something there, and there’s true opportunity for learning professionals to take advantage of the concepts and the opportunities that big data provides to make a bigger difference in their organization.”