Is Unstructured Data the Key to Unlocking Business Growth?
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Did you know?
According to Forbes, 95% of businesses cite the need to manage unstructured data as a problem for their business?
Today, most of the data generated by businesses is unstructured, making it difficult for companies to manage that data.
Unlike structured data, unstructured data comes in a plethora of forms and accumulates at a very rapid pace. This data holds unique insights that can not often be extracted from the more easily accessible structured data.
To see how turning unstructured data into valuable insights can improve your business, we must answer a few key questions:
- What is unstructured data?
- How can you turn unstructured data into valuable insights?
- How can Sunsett.io help your business manage this data?
What is unstructured data?
Unstructured data is thought to be approximately 80–90% of all data held by an organization and the volume of this data grows rapidly. Due to the rising increase in the use of digital applications and services, unstructured data is continuously and freely accumulated in any and all formats.
“Unstructured data is datasets that have not been structured in a predefined manner. Unstructured data is typically textual but can also include elements such as images, videos, and audio.”
Unstructured data poses a problem for small businesses and large corporations alike as its lack of consistent nature and the wide variety of formats make it hard for it to be ingested, processed, and analyzed.
Unstructured data is often an untapped resource for businesses of all sizes. When analyzed and managed properly, unstructured data can provide valuable insights that can help drive data-driven decisions.
How can you turn unstructured data into valuable insights?
Unstructured data can include text, social media posts and comments, IoT data, mobile data, and more. Due to the many formats it is comprised of, unstructured data has the potential to provide organizations with insights they would not otherwise be able to glean from just numbers and statistics alone.
The inherent nature of unstructured data allows for a lot of flexibility when it comes to analysis. Since this data set is not organized and structured, it can be molded and adapted in a number of different ways depending on the particular insight a company is looking to gain. Additionally, since unstructured data accumulates at such a rapid pace, it can typically be collected quickly and easily. This allows small businesses to quickly adapt to the market trends and set themselves up for better growth opportunities.
In order to get the most out of unstructured data, it must first be prepared and analyzed to get a full understanding of how the data can most useful to an organization. Due to its undefined and non-formatted nature, it often takes someone with a data science background to fully prepare and analyze this data set.
Data analytic tools are typically very beneficial when it comes to dealing with unstructured data. While structured data often allows for human analysis alone, unstructured data must often be manipulated by applications or tools to aid in the successful derivation of powerful insights.
“Data is inherently valuable to businesses of all sizes. Unlocking the value in unstructured data is key in propelling a business to the next stage of growth and opportunity.”
How can Sunsett.io help your business manage this data?
Unstructured data can hold the key to so much untapped potential. Allowing an organization to tap into all facets of data types and categories opens the door for more comprehensive and insightful data-driven decisions. As we have discussed throughout this article, unstructured data is often scattered across platforms and systems so having a powerful tool, like Sunsett.io, that allows users to connect multiple platforms is key.
Inside Sunsett.io, powerful marketing analytics, data visualizations, personalized insights and team collaboration tools help to save you time, and resources and grow your business. Sunsett’s personalized insights give businesses quick tips and metric suggestions based on your connected platforms and project goals.
Visit Sunsett.io and start your free trial and see how Sunsett can help you turn your data into actionable insight and help your business grow by making data-driven decisions.
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