Question

Volatility refers to the data velocity relative to timescale of event being studied

Answer 1

Volatility

How old does your data need to be before it is considered irrelevant, historic, or not useful any longer? How long does data need to be kept for?

Before big data, organizations tended to store data indefinitely -- a few terabytes of data might not create high storage expenses; it could even be kept in the live database without causing performance issues. In a classical data setting, there not might even be data archival policies in place.

Due to the velocity and volume of big data, however, its volatility needs to be carefully considered. You now need to establish rules for data currency and availability as well as ensure rapid retrieval of information when required. Make sure these are clearly tied to your business needs and processes -- with big data the costs and complexity of a storage and retrieval process are magnified.

Answer 2

Explanation:

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