Velocity, Volume and Variety.
Its the latest set of words that describe the environment we are living in and the business environment that we are operating in.
Yes, the terms come from the “Big Data” perspective of information management. But they are useful terms for describing what we are experiencing. Velocity, obviously, has to do with speed and the rate of change. Volume is about the quantum of information that we are dealing with, the ever increasing amount of data. And variety is about the spread, is about the different types of information.
And how do you deal with it? What strategies do you set for handling the volume, velocity and variety?. Well, there are three:
- is to ignore it and hope it goes away. We know that in the long run that that won’t work
- is to build bigger machines to handle it. To, if you will, meet the onrushing force with overwhelming power
- is to react like that whitewater kayaker. To read the flow and make your own path through it