Define Big Data and Describe the Framework for Understanding Its

question 19

Essay

Define Big Data and describe the framework for understanding its key elements,the four "Vs",explaining what each of the "Vs" represents.

---

Definitions:

Direct Labor Budget

A financial plan that estimates the cost of direct labor needed to meet production needs within a specific timeframe.

Direct Labor-Hour

A measure of the amount of time workers spend directly working on manufacturing a product or providing a service.

Labor Rate

The cost per hour that a company pays for labor, often used in calculating the total labor cost of a project or production.

Selling and Administrative Expense Budget

outlines predicted selling expenses and administrative costs for a future period.