Data is a gold mine of advice. It is necessary to have an integrated data architecture that facilitates better insights on multipurpose information to cater to business decision making and significant events.
It’s believed that the average Practice Analyst and Data Scientist spends 70 to 80% of their time on data preparation, depending on the events they think are important. There are various dimensions to the data. This data is funneled from various sources (internet /web data) that is added to the traditional sources making it complex. The more the size it has, the more the complex the data, which makes it tough to create sustainable business value.
Here are some examples of different dimensions of Unstructured Data:
• Data from corporate & personal email ids and social network profiles
• Text and instant messages
• Data generated from user activity on sites, such as location information
• Customer call logs and voicemail data
• Newspaper articles & whitepapers
• Encrypted files and images
• Pictures, audio and video files
• Calendar and Calendar
• Internet browsing history
A smart technology can make things move smoothly with the right infrastructure in place. Enterprises are increasingly interested in accessing the unstructured information/data and incorporating it with the structured data. More precise data allows better evaluation assumptions and easy identification of trends and provides higher confidence in analytical results. Here are the steps to gather the hidden facts:
• Collect relevant information from relevant sources.
• Get a powerful process set up to store the data.
• Run and determine the critical variables.
• Create predictive model.
The future of information isn’t merely the analysis of the volume of data but also the implementation of advanced solutions that may allow all people throughout the business to communicate and interact with the information, thus leading to the creation of an efficient, effective, productive and successful environment. The technology behind the practice of analyzing unstructured information for useful insights is beginning to redefine the way organizations look at info and will significantly decrease the number of hours needed to gather the information. The files of unstructured data often contain a rich set of facts and measurements which are otherwise not noticed due to lack of the visibility in a structured format. Therefore, it’s required to tag and annotate the facts inherent in the text and its relative dimensions, so that the structures derived from it may be used for knowledge management and business intelligence.