What phrase refers to extremely large datasets that can be analyzed for insights?

The phrase that refers to extremely large datasets that can be analyzed for insights is "Big data." This term encompasses datasets that are so large and complex that traditional data processing applications are inadequate to handle them. Big data typically involves the three V's: volume, variety, and velocity.

Volume refers to the sheer size of the data, variety signifies the different types of data (structured, semi-structured, and unstructured) collected from diverse sources, and velocity indicates the speed at which data is generated and processed. The analysis of big data allows organizations to uncover trends, patterns, and insights that can lead to better decision-making and innovative solutions across various sectors, including healthcare, finance, and technology.

While data warehouses and data lakes are concepts related to how data is stored and managed, they do not specifically capture the essence of analyzing extremely large datasets for insights. Mass data set is not a widely recognized term in the context of data analysis and lacks the broader implications associated with big data.