Big data is a collection of data that is huge in volume and growing exponentially over time. It is data that cannot be stored or processed efficiently using traditional data management tools. Some examples of big data applications include social media, banking, communications, education, manufacturing, government, and retail. Big data has several key characteristics and organizations use it to make real-time data driven decisions to improve outcomes. However, it also presents challenges related to talent, incompatible tools, and correlation errors.