<aside> 💡 Refers to the sheer volume of data in structured and unstructured form

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Three main areas:

1. The volume of data
2. The velocity of growth
3. The variety of format that the data can take

Data Warehouses

<aside> 💡 A large collection of archived data that can be used for decision making

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What are they used for?

1. Allows companies to store information about every sale
2. Can use it to plan future changes or developments in their business
3. Allows the company to see who bought what items and then target them with special offers

Data Mining

<aside> 💡 Interrogating large amounts of data in the data warehouse - finding patterns to predict future outcomes

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Why do companies use it?

1. Fighting shoplifting in clothing stores
2. Analyse buying patterns/identification of customer needs
3. Finding a previously unknown relationship between regions of the country and food preferences

Predictive Analysis - trying to predict the likelihood of an action or event happening