Unstructured data is the virtual mud field that one must sift through in order to make sense of vital business data that is hidden from sight but can be identified, extracted and processed by analyzing all the data found on the Internet. This is mainly thanks to the help of IT/AI processes like text mining and semantics technology (a valuable aspect of Machine Learning), which allow a program to recognize and make sense of human language, speech and also determines human/consumer behaviour (as well as predict changes in client preference and mass trends). It is the opposite of Structured Data, which is basically information that is already tagged, categorized and divided into classifications, such as any data contained in spreadsheets and databases, which is fixed in location within a record or file (Microsoft Excel for example).
Unstructured data therefore is data that is not fixed in location and comprises all the open source Intel on the world wide web: websites, social media, blogs, consumer associations, professional and academic organizations, virtual libraries, e-mails, text and documents, blogs, videos and everything in between are the battlefield of mixed human knowledge which can deliver valuable business intelligence to a company depending on its specific and single/multiple business needs.
Advantages of Unlocking Unstructured Data
So, knowing how to handle unstructured data with the right tools (and identifying first which tools are appropriate for your organization) can help a company achieve enormous business growth and a higher competitive edge in the markets, especially in the case of small businesses. The latter can be even a step ahead of the competition if they hire the services or possess the right team of professional IT/AI/Cloud computing experts to help manage and monitor the software. The biggest advantage of using unstructured data is the fact that it allows companies to draw innovative ideas and new business strategies from other fields of previously undiscovered human activity and knowledge, which they can then implement to gain a wider audience and also learn how to move strategically in the market.
How to Unlock Unstructured Data
A critical step when dealing with unstructured data should be locating the data itself with the right tools at hand; once you know the format that this data comes in, which could be HTML files, PDF files, contracts or text documents, audio/video files, or any specific format that your organization deals with when handling company data, then you can extract this data and makes sense of it with the aid of valuable IT/AI/Cloud platforms that are specifically designed for these hidden data sets (such as Machine Learning, Knowledge Management/Text Mining, Cognitive Intelligence, and Cloud Computing) and can find what is common (by recognizing patterns) in all of them. For example, the text mining software can handle unstructured data very effectively thanks to its high processing speed and power capacity (also with the aid of Cloud Computing systems), it can recognize any written text and in conjunction with Robotics Process Automation (RPA), which refers to the application of algorithms and related software, it can perform repetitive and intricate tasks non-stop; something which would be very hard if not impossible for a human worker to do without serious collateral effects such as boredom, mental and physical fatigue, and of course the stress that comes with meeting important deadlines.
Natural Language Processing is a valuable component of the text mining process, and both serve to understand and recognize human behaviour (as well as identify common patterns) from speech and text, making sense of grammar syntax, sentence structure and phraseology to deliver undiscovered ideas and data that can boost your business and provide solutions to potential crises.
What to do with Unstructured Data?
The info from these data sets can then be extracted and used strategically for various purposes; such as loading them onto planning tools and calendars to find out what the company needs to do tomorrow, in a month, or in a year and more. It also helps find new ways to diversify your products/services to attract multiple audiences and anticipate any fluctuations in customer demand/satisfaction so that the company can respond appropriately well ahead of time. Similarly, it reorganizes the structure of your company so that employees can all contribute with innovative ideas and move away from redundant and repetitive jobs that Text Mining and other AI applications can perform more efficiently- thus enhancing not only the level of productivity, but also reducing bureaucracy while stretching beyond conventional business mindsets and strategies to embrace more effective ways to cater personalized solutions to clients. Unfortunately, many companies choose not to recognize the importance of unstructured data, whereas there are many tools available that can help you reach your business goals and it is always best for a company to become better acquainted and keep up to date with important technological innovations in the IT/AI/Cloud Industrial partnership.
