Businesses are constantly dealing with data, whether it comes from their employees, customers, or other external sources. Smart businesses are constantly looking for ways to use data to address their business problems and differentiate themselves in the market. But there are challenges that arise when it comes to leveraging this information. Why?
Because there has been a paradigm shift in data growth, from mostly structured, and not too much of it, to mostly unstructured, and a lot of it. Businesses use structured data every day through relational databases and spreadsheets, where patterns can easily be identified. However, unstructured data, which comes in the form of emails, social media, blogs, documents, images and videos, represent a significant source of opportunity for businesses. Due to its unstructured nature, it is difficult for people to gain insight from it using conventional systems. And because so much of data created today is unstructured, organizations need to be able to understand what’s in this data, or risk missing out on significant amounts of digital intelligence.