The movement to find new and better ways to manage large amounts of web- and sensor-generated data and derive business insight from it, while simultaneously providing high performance and scalability at a reasonable cost is referred to as ""

Big-Data Phenomenon

Explanation:

According to my research on information technology, I can say that based on the information provided within the question the term being describes is called the Big-Data Phenomenon. This is basically (like mentioned in the question) a data set that is extremely large and complex that they are too difficult to process using the common data processing applications that most organizations use.

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