Gartner defines Big Data as “high volume, velocity and variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making”.
Big data is data that, by virtue of its velocity, volume, or variety (the three Vs), cannot be easily stored or analyzed with traditional methods.
The term covers each and every piece of data your organization has stored till now. It includes all the data stored both on-premises or in the cloud. It could be papers, digital, structured and non-structured data within your company.