Which of the following best defines big data?

Big data is best defined as data that exceeds the processing capabilities of traditional systems. This concept emphasizes the volume, velocity, and variety of data that can overwhelm standard database tools and traditional data processing applications. Big data not only encompasses large volumes of structured data but also unstructured and semi-structured data generated at high speed, requiring innovative technologies and methodologies to capture, store, and analyze it effectively.

In comparison to the other options, simply collecting any data by companies does not encapsulate the challenges associated with big data. Additionally, a small, manageable data set runs contrary to the essence of big data, which is characterized by its complexity and scale. Lastly, limiting the definition to only quantitative data fails to recognize the wide spectrum of big data, which includes qualitative insights from text, audio, video, and other forms that enrich analysis and decision-making. Thus, defining big data focuses on its unique characteristics and the implications for processing that distinguish it from traditional data approaches.