Data is a gold mine of insight. It is important to have an integrated information architecture that facilitates better insight into multidimensional information to accommodate business decisions and important events. The biggest question is, “Where should I start and how do I find what’s hidden in the data?”
It is assumed that the average Practice Analyst and Data Scientist spend 70 to 80% of their time on data preparation, based on the events they believe are important. There are different dimensions to the data. This data is extracted from various sources (internet / web data) added to the traditional sources that make them complex. The more dimensions it has, the more complex the data, making it difficult to create sustainable business value.
Here are some examples of different dimensions of unstructured data:
• Data from company and personal email IDs and social network profiles
• Text and instant messages
• Data generated from user activity on websites, e.g. location information
• Customer call logs and voicemail data
• Newspaper articles and whitepapers
• Encrypted files and images
• Pictures, audio and video files
• Calendar and contacts
• Internet browsing history
A smart technology can make things move smoothly with the right infrastructure in place. Companies are increasingly interested in accessing the unstructured information / data and integrating it with the structured data. Most of the platforms can identify the maximum potential for the important variable, followed by determining its relevance to the business. More accurate data enables better test assumptions and easy identification of trends and gives greater confidence in analytical results. Here are the steps to gather the hidden facts:
• Collect relevant data from relevant sources.
• Get a powerful process in place to store the data.
• Run and determine the important variables.
• Develop predictable model.
The future of information is not only the analysis of the amount of data, but also the implementation of improved solutions that enable all people across the organization to communicate and interact with the data, leading to the creation of an effective, efficient, productive and successful environment. The technology behind the process of analyzing unstructured data for useful insights has begun to redefine the way organizations look at data and will reduce the number of hours required to collect the information. The files with unstructured data often contain a rich set of facts and dimensions that are otherwise not noticed due to lack of visibility in a structured format. Therefore, it is required to tag and comment on facts inherent in the text and its relative dimensions so that structures derived from it can be used for knowledge management and business information.