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Table 1 Commonly used approach in related work

From: Big data monetization throughout Big Data Value Chain: a comprehensive review

VolumeIt refers to the size of data collected from different types of sources. Here, data is no longer represented by a few terabytes, but many petabytes. The bigger it is, the bigger is the insight we can mine
VelocityIt refers to the speed at which data is generated, stored and processed
VarietyIs one of the most challenges of Big Data. It concerns data produced from various sources, both internal and external. Data can be in different format; structured, semi-structured or unstructured
VeracityIt concerns anomalies and uncertainties in data, due to inconsistencies and incompleteness. The process of precluding bad data is therefore important to extract reliable insights
VariabilityIt is different from variety; it refers to data whose meaning is constantly changing
VisualizationIs the process of illustrating relationships within large amounts of complex data in a readable manner
ValueIt refers to the information and insights that data provides