Popular media has coined the term to refer to the excess data that companies can access but cannot organize using conventional data management.

The term you're referring to is "Big Data."

Big Data describes the vast volumes of data generated from various sources, such as social media, online transactions, sensors, and other digital interactions. This data is often too complex or large to be processed using traditional data management tools and techniques.

Big Data is characterized by its "3 Vs":

1. Volume: The sheer amount of data being generated daily is staggering, often measured in terabytes or petabytes.

2. Velocity: Data is created and must be processed at high speeds. This includes real-time data streams, which require immediate analysis to be useful.

3. Variety: Data comes in diverse formats—structured data, semi-structured, and unstructured data from various sources which makes it challenging to aggregate and analyze.

Organizations leverage advanced analytics, artificial intelligence, and machine learning algorithms to gain insights from Big Data, helping them make informed decisions and improve operational efficiencies. As a result, Big Data has become an essential aspect of business strategy in the modern digital landscape.