The 5 Pillars of Big Data

What are the 5 V's?

The 5 V's are defined as follows:

1. Velocity is the speed at which the data is created and how fast it moves.
2. Volume is the amount of data qualifying as big data.
3. Value is the value the data provides.
4. Variety is the diversity that exists in the types of data.
5. Veracity is the data's quality and accuracy.

 

Can anyone expand on these for a newbie?