CFA Level I · CFA Level I Exam · Introduction to Financial Data Science
An asset manager wants to analyze thousands of earnings call recordings and news articles alongside price data. Which characteristic of big data does this use of text and audio files most likely illustrate?
The best description is variety. Variety covers the many forms data take, such as structured price data and unstructured text and audio. Velocity is about the speed of data arrival and veracity is about data trustworthiness, so neither describes combining different formats.
- AVelocity
- BVarietyCorrect
- CVeracity
Explanation
Variety refers to the range of data formats, including structured numbers and unstructured text, audio and video. Velocity concerns the speed at which data arrive, and veracity concerns data reliability and credibility. Mixing recordings, articles and prices is a matter of format, so it illustrates variety.
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