The amount of unstructured data and its creation rate in the world is increasing at unprecedented levels. Organizations aggregate such unstructured data in one place and separate the required meaningful information from such irrelevant unstructured data.
These unstructured data, when combined with behavioural information and surveyed data, help in getting rich insights. Gathering and analyzing such unstructured information is giving businesses more insights than ever before.
How to define Structured data?
In simple words, any data that correlates with the relationship keys and a schema is observing can be said as structured data. The pattern of such data cannot be easily searched. Nowadays, maximum processing is happening on this type of data. They will be in the form of text, stored in Relational databases and data warehouses, created by humans or machines.
How to define Unstructured data?
Data that has no structure and no schema followed can be said as unstructured data.
The pattern of such data cannot be easily searched. Humans, as well as machines, can also generate it. They can be in text, video, audio etc., but the condition is that no schema or structure is followed. We can also store unstructured data in NoSQL databases, data warehouses.
A simple example of unstructured to structured data conversion would be:
Data is meaningless without structured formats. Nearly 85% of enterprise data is in unstructured forms.
Need for Structured Data?
- Unstructured data takes enormous time to sort out and may or may not yield any insights.
- Data is only helpful if it can be converted from unstructured to structured formats smartly, effectively and quickly.
- This unstructured data, when combined with behavioural information and survey data, help in getting rich insights.
- Smart data for business helps understand the consumers in a better way which helps further in taking strategic decisions.
Data is an asset in the company’s balance sheet.
Grow your business by monetizing your existing Data
When you open any social media channel or website, you noticed how we get advertisements that interest us. It is because of tools capable of automatically analyzing our historical or existing data and finding our interests.
The growth of any organization depends on how they transform their existing data into Business Intelligence for taking up the right decisions.
How can our vast amount of unstructured data pay us?
- Use your data strategically to integrate various information for planning and execution.
- Unstructured data sets can help us in identifying trends and patterns.
- The vast amount of information extracted from the data needs to be used effectively.
- Groom the unstructured data in such a way that it can work hand-in-hand with other types of unstructured and structured data.
- Store your data in the cloud and derive meaningful insights from that data.
- Get paid by selling your data to large organizations.
- Utilize data to get insights and increase sales.
Can we earn more if our data is structured?
- Offer data like Reports, online dashboards, and indexes with your company’s existing offerings to customers.
- Identify problems from data sets and improvise on them.
- Use data to optimize your marketing and advertising goals.
- Sell your data to your partners.
- Explore innovative joint opportunities with players outside your industry.
- Use the data you collect to customize and deliver targeted advertising messages to your users.
- A business can use user data for doing market research and providing value money solutions.
Conclusion
Helpful information is emerging every day around us in different unstructured formats. Visionary companies have already started deriving insights by reliable unstructured to structured data conversion techniques. To know more about how Neurapses can help you in unstructured to structured data conversion, connect with us for a free consultation with our experts.
Author Bio
Dr Vikash Sharma
About:
Dr Vikash Sharma is a Researcher in machine learning solutions.
Being a Technopreneur and founder of Neurapses® Technologies, he spends most of his time optimizing software solutions for businesses.
Dr Vikash is also co-founder of Mechatron® Robotics, an educational division of Neurapses Technologies Pvt Ltd. A principal technical consultant with 15+ years of professional experience in information technology.
Some of his technical Specialties are in Java, Python, Matlab, R Programming, SPSS, NodeJS. He is involved in optimizing processes and system design and has expertise in requirement analysis and architectural design.
Before moving to London, he worked as a software developer, technical architect, software engineering associate, and technical consultant. He completed his PhD. at The University of Hull and worked as a modular/Ad-HOC sessions lecturer.
