Here is a summary -
“The trend we observe is that the problems around big data are increasingly being spoken about more in business terms viz. Transactions, Interactions, Actions and less in technology terms viz. Volume, Variety, Velocity. These two represent complementary aspects and from a big data perspective promise better business-IT alignment in 2013, as business gets hungrier still for more actionable information.”
Volume - TransactionsMore interestingly, as in a story, it flowed along time and we realize that big data appears on the scene as an IT challenge to grapple with when the Volume happens, which comes from either growing rate of transactions. Sometimes transactions occur in several hundreds per second, or as billions of database records required to process in a single batch were the volume is multiplied due to newer, more sophisticated models being applied as in the case of risk analysis. Big data appears on the scene as a serious IT challenge and project to deal with associated issues around scale and performance of large volumes of data. Typically, these are Operational in nature and internal facing.
These large volumes are often dealt with by relying on a public Cloud infrastructure such as Amazon, Rackspace, Azure, etc. or more sophisticated solutions involving 'big data appliances' that combine Terabyte scale RAM at hardware level with in-memory processing software from large companies such as HP, Oracle, SAP, etc.