What is Big Data?
‘Big Data’ is the term used to define large quantities of data that are humongous and complex to the extent that legacy database management tools would not be able to analyze it or deduce any meaningful conclusion from it.
An HR technology expert, Prof. Stefan Strohmeier, states that big data is defined by the 3V-model: Volume, Velocity & Variety. The ‘volume’ refers to the quantity of the data, while ‘velocity’ refers to the speed at which this data is generated and ‘variety’ refers to the structure of the said data.
Big data might be used in a variety of ways in the field of HR. For example, it might be used to feed an AI to get the most promising candidates for a specific vacant position. It might also be used to generate the best possible solution to efficiently manage the workflow in various departments.