In this article, we take a quick look at each of the five V’s — Veracity, Variety, Volume, Velocity, and Value— and how Cirus applies each of these to increase the Value of your data-asset.
“Not everything that counts can be counted, and not everything that can be counted counts.” — Albert Einstein
In the world of Big Data, the real-world Value of a data set is a result of a combination of different variables. These variables, the four V’s, each contribute to the overall quality of the dataset, and the accuracy of the insights generated from it, i.e. the Fifth V — Value.
Accurate Insights = High Value Data-Asset = Higher passive income generation for the owner of the asset (i.e. You)
In this article, we take a quick look at each of the four V’s — Veracity, Variety, Volume and Velocity — and how Cirus applies each of these to increase the Value of your data-asset.
*NOTE: None of these concepts are new in the data science field, or to the corporations that are collecting and monetizing your data as you read this. So while we aren’t re-inventing the wheel from a big data standpoint, we feel it’s important for you to understand the factors that affect the value of your asset and how Cirus works to maximize each one.
Each of the V’s builds on the next, working together to create something more valuable than the sum of its parts, and it starts with:
1) Veracity
Veracity can be defined across three dimensions:
1. Accountability and Truthfulness
2. Non Repudiation, Objectivity and Traceability
3. Trust, Credibility and Availability
All three dimensions reduce “noise” and potential errors in subsequent inferences from the data — collected in real time or historical, due to minimization of biases, intentional misinformation, and implausibility. Cirus uses complex deep learning algorithms to cross-reference data collected from multiple sources over time. This works to increase the signal-to-noise ratio of the data collected. Ultimately this increases the accuracy of the insights generated, as they require multiple confirmations across different dimensions.
2) Variety
Data gets richer and more accurate if collected from multiple conduits serving varied types of data. In the Cirus Ecosystem, multiple data collection points will be available, giving rise to high Variety in the data collected. Users will have a choice of any combination of data collection options: The Cirus dedicated Browser, and Extensions for standard Chromium-based browsers, Mobile App for Android and iOS, and of course, the most powerful piece of the Cirus Ecosystem — The Cirus Router.
Each piece provides unique types of data to build your data-asset, from simple browsing data to IOT data through the Cirus Router. The Variety of options helps improve the Veracity (see above), allowing for cross-referencing and correlating different types of data from multiple inputs.
3) Volume
Once you have rich, trustworthy, varied data, the more the better. Volume is directly proportional to the number of conduits for data collection — more data collection points = more volume — and a superior volume of trustworthy data can give rise to real time or near time insights, also known as…..
4) Velocity
…Or, how recent and relevant is the collected data? The Cirus Ecosystem ingests real time data streams leading to onstream signal detection, giving the unique opportunity to respond to events and stimuli. Translation: High Velocity.
Insights are generated in near-real time meaning they’re highly relevant and comparatively very valuable.
5) Value
Veracity + Variety + Volume + Velocity = VALUE
Each aspect is useful on its own, but insights generated from a combination of all four become very powerful (like Captain Planet, Voltron, or the Power Rangers’ Megazord…. depending on which generation you’re in).
Cirus is working to create an Ecosystem where users have ownership of their data, while each of the four V’s is maximized, putting them in control of the highest quality — most Valuable — version of their data-asset available anywhere.
Your data is yours… Own It.
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