Big Data is characterized by the 4v's, which are as follows:

1, the volume of data (Volume)

The obvious characteristic of Big Data is its huge data size. With the development of information technology, the Internet continues to expand, everyone's life is recorded in the big data, the data itself is also explosive growth. The unit of measurement of big data has also gradually developed, and now the measurement of big data has reached EB.

2, Variety (Variety)

In the huge number of Internet users and other factors, the source of big data is very wide, so the type of big data also has a variety. Big data can be categorized into three types by the strength of causality, i.e., structured data, unstructured data, and semi-structured data, which are collectively known as big data. Information shows that structured data accounts for a relatively large proportion of the overall big data, up to seventy-five percent, but the big data that can produce high value is unstructured data.

3, value density (Value)

Big data all value in the characteristics of big data occupies a central position, the total amount of big data data and its value density is inversely proportional to the relationship between high and low. At the same time for any valuable information is extracted after processing the massive amount of basic data. In the booming development of big data today, people have been exploring how to improve the computer algorithms to deal with the huge amount of big data, the extraction of valuable information of the speed of this problem.

4, high speed (Velocity)

The high-speed characteristics of big data are mainly reflected in the rapid growth in the amount of data and processing. Compared with traditional media, in today's big data era, the production and dissemination of information has changed dramatically, in the role of the Internet and cloud computing and other ways, big data can be rapidly produced and disseminated, in addition to the timeliness of the information, but also requires a rapid response in the processing of big data, no delay in the input and extraction of data.

Importance of big data

(a) Big data is a key production factor to promote the development of the digital economy

Developing the digital economy is the way to achieve high-quality economic development and build a modernized economic system. Promoting the digital transformation of the economy and society is actually a shift from the era of the industrial economy to the era of the digital economy. In this transformation process, data plays a crucial role.

The Fourth Plenary Session of the 19th CPC Central Committee for the first time involved data as a factor of production in the distribution of income, which is a major theoretical innovation, marking the independence of data from technical factors to become a separate factor of production. Data has great potential for application in improving production efficiency, realizing intelligent production, enhancing the efficiency of factor allocation, stimulating new kinetic energy, and fostering new business models, and has become an innovative power source for promoting the development of the digital economy.

(2) Big data is a major development opportunity to reshape the country's competitive advantage

Countries around the world have fully recognized the strategic significance of big data for the country and have started to lay out the plan early. The competition between countries will change from the competition for capital, land and resources to the competition for technology, data and innovation.