Advisory Note: Big Data Security, Governance, Stewardship - 71017

Big Data is often characterized by three properties: there is now an enormous quantity of data which exists in a wide variety of forms and is being generated very quickly. These properties are usually referred to as volume, velocity and variety. However there are two other important properties that are sometimes ignored these are value and veracity. These latter properties can only be achieved through good information stewardship – this document describes why information stewardship is needed and its application to Big Data.

Big Data, in itself, has no meaning and little value; it is the analysis and interpretation of Big Data into Smart Information that creates value. Smart Information is Big Data with context or processing that makes it useful - for example to provide answers to questions. However the value of this analysis can be compromised if the veracity of the Big Data is not certain. For example - if the Big Data source is in doubt, the validity of the data is uncertain or the right to use the data is not known.