Describe the concept of 'big data'.

The concept of 'big data' refers to extremely large datasets that are analyzed to uncover patterns, trends, and insights that can be valuable in various fields, such as business, healthcare, and research. The massive volume of data that falls under this category often exceeds the capabilities of traditional data-processing software. Big data is characterized not only by its size but also by its variety and velocity, as it encompasses structured and unstructured data generated at an unprecedented rate from various sources, such as social media, sensors, and transactions.

Analyzing big data requires specialized tools and techniques because of its complexity and sheer volume. This enables organizations to make informed decisions based on comprehensive analytics rather than relying on smaller, more manageable datasets. Utilizing big data effectively can lead to significant competitive advantages and innovations in various industries.

The other choices do not capture the essence of big data. For example, data that is easily managed within databases represents standard data handling practices, but it does not encompass the complexity or scale of big data. Similarly, data strictly stored locally on computers or simplified datasets used for quick analysis do not reflect the expansive and multifaceted nature of big data analytics that thrives on diversity and high volume.