Hello Chinmayi Vutharadi,
I have gone through your post, and I would like to add a few points. In this video, the speaker discusses more on big data and thick data. There is no major difference between these two categories of data. Big data refers to the huge amount of both structured and unstructured data. On the other hand, thick data is qualitative data that provides insights (Alles & Vasarhelyi, 2014). In most cases, the data is collected from humans through interactions.
The speaker advises organizations to make use of both big data and thick data. By combining the use of the two, it will be easy to draw insights and discover some new trends. The new patterns and trends will help the organization improve its performance and compete fairly in the market. When dealing with big data, there is a need to ensure that there are people to support it. Data systems need researchers and other specialists who will be able to analyze the data in the right manner. Under all circumstances, an organization should ensure that it makes good use of both big and thick data.
References
Alles, M., & Vasarhelyi, M. (2014). Thick data: adding context to big data to enhance audibility. International Journal Of Auditing Technology, 2(2), 95. doi: 10.1504/ijaudit.2014.066237