Final answer:
The definition of big data is not limited to datasets larger than 1 petabyte; it also involves variety, velocity, and veracity, making the statement false.
Step-by-step explanation:
The statement that data is defined as big data if it is more than 1 petabyte is False. Big data is characterized not only by its volume but also by its variety, velocity, and veracity. The Sloan Survey example illustrates that 15 terabytes of data were recorded, and while this is a significant amount of data, the term 'big data' is not exclusively defined by a specific quantity such as a petabyte. Moreover, big data often requires advanced computer algorithms and supercomputers to process and analyze the data, regardless of the exact size.