The term big data refers to datasets that are so large and complex that traditional data processing applications are inadequate to handle them. In the tech industry, big data involves collecting, storing, and analyzing vast volumes of structured and unstructured data from various sources, such as social media, sensors, and transactions. The insights derived from big data can inform business strategies, drive innovation, and enhance decision-making. Key challenges include data management, storage, security, and finding effective means of extracting meaningful insights from the information gathered.