Why Is Unstructured Data So Important to Businesses Today?

An enterprise can generate tons of data each day. And according to experts, about 90 percent of that data is unstructured. For many people, data is data, but there is structured and unstructured data for analysts and IT people. So what does unstructured data mean, and what things do you need to know about it?

What Is Unstructured data?

Unstructured Data

The annual growth rate of unstructured data is between 55 and 65 percent. It is not easy to store unstructured data in the traditional way, such as spreadsheets, because the data files come in different forms. Unstructured data needs a specialist to analyze the information. Further, it is not as easy to search as structured data. This is one of the reasons why most of the unstructured data were not as important to enterprises as it is now.

Examples of unstructured information

Almost every piece of information you see that does not follow a format or cannot be added to spreadsheets are unstructured. Examples include text files, photos, audio files, blog posts, web pages, presentations, open-ended survey results, social media sites, call center recordings, and transcripts.

The Importance of unstructured data to an enterprise

The bulk of data available today is unstructured, and an organization needs to find ways to manage and analyze this valuable information. Managing unstructured data is easier when you use a specific platform, such as the one you will find at https://dataloop.ai/platform/data-management, which ensures that it can provide you the information you need for your vital business decisions. In addition, the wealth of information you can get from unstructured data can propel your organization to success amid a cutthroat environment.

Using big data tools and advanced technology, it becomes easier to mine, process, integrate, index, store, track, and report business insights from various unstructured information sources.

Use cases of unstructured data

One important use is in customer analytics. There are multiple sources of unstructured data, such as mentions on social media, chatbots conversations, online product reviews, and call center transcripts, where you can extract consumer preferences and behavior. Using AI can help you find patterns in the information you can gather, which will give you the essential background information you need to make quick decisions to enhance customer relations.

You can use it as a source of marketing intelligence once you use your data management platform to process your collection of unstructured data. For example, with the help of AI and your robust data management platform, you can quickly scan multiple datasets and establish patterns in customer behavior and preferences, allowing you to know the services or products that interest your target audience. Information such as this is vital in product development and marketing strategies and initiatives.

Unstructured data can help regulated organizations remain compliant by analyzing emails and chatbots conversations that can help in the early identification of regulatory issues.

It is vital to filter unstructured data to ensure that you gain the right insights to help your business. With an effective data management platform, you can store, analyze, and report data applicable to your decision-makers and make full use of unstructured data’s value.

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