Use Artificial Intelligence and Analytics to unlock value from unstructured data
by Marcom, on Jan 24, 2019 11:34:00 AM
Estimated reading time: 4 mins
AI-powered Analytics is helping enterprises seamlessly analyze 'All Data' to discover business insights towards addressing threats and business opportunities. The augmented technology helps enterprises go beyond analytics of regular structured data to high value analytics of highly unstructured data.
The field of Analytics has come a long way from simple slicing and dicing of structured data stored in data warehouses by using Data Warehousing and Business Intelligence principles. Today, macro as well as micro-level insights with respect to the bigger picture at the right time and the right place are becoming business imperatives.
As a result, enterprises are seeking new ways to delve into their unstructured data recesses as well as streaming data with the help of high end technologies such as AI-powered Analytics. These technologies are helping enterprises relate to their usually untapped data and monetize to create business value. With the help of these technologies, they are able to understand the bigger picture as well as find finer details and utilize the findings. The field has found huge value in data-intensive industries and is widely getting accepted due to the sheer business potential.
Unstructured data has tremendous value
Intelligent use of AI-powered Analytics and unstructured data, which gets generated in the form of regular spreadsheets, documents, pdf formats as well as journals, metadata, telephone records, audio, video, analogue data, images, etc., generates tremendous business value. Its analysis also gives rise to plethora of opportunities in an agile environment. It helps enterprises get a hold on modern day data management through the strategic convergence of data quality principles, cloud, and AI to derive highly specific insights that are both transparent and explainable. This helps in timely, better, and faster decision making. To put simply, this technology helps enterprises derive meaningful information from unstructured data and understand things and entity correlations, which are usually beyond human cognizance.
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Business Value of the Augmented Technology (Analytics + AI)
- Allows to make a paradigm shift from Big Data to All Data and develop solutions around customer needs by reinventing and accelerating processes
- Steps-up Self-Service Analytics and helps business users to analyze unstructured data in a highly flexible manner in near real-time providing better analysis of business scenarios
- Offers a compelling experience to business users to make quick decisions based on unstructured data without engaging either data scientists or technical staff
- Integrates voluminous data from different business services and data sources using a single platform that provides decision makers a better visibility of the macro-level as well as the micro-level picture
- Helps business users to be highly creative in discovering and utilizing business insights and address an impending threat or emerging opportunity/revenue stream
- Assists in identifying patterns, forecasting and predicting scenarios through a vast array of diverse data sets
- Helps achieve a state of ‘data democratization’ such that business users access and utilize role-based information, not just plain data, without any human intervention
- Helps to analyze multi-variate operations spread across geographies, reduce complexities, control costs, eliminate false positives, and improve compliance
How to Unlock the Value from Unstructured Data?
Innovative Analytics and Pattern Mining Platforms accelerate data correlation by extracting information from multiple systems and graphically highlight the associations between seemingly unrelated entities. It offers an acute simplification of a complex procedure, which otherwise takes months to identify a single pattern using conventional methods.
The versatile and technology-agnostic platforms also help to blend synergies from various mediums such as social media, mobile/telephone records, documents, pdfs, emails, etc. to provide a holistic picture of events and a 360 degree analysis of entities. The views and patterns are highly explainable and traceable to the supporting documents as well as their summaries thus providing complete transparency to business users.
The platforms are built using AI along with layers of other cutting edge technologies, such as Pattern Mining, Artificial Intelligence, Machine Learning, Robotics, Optical Character Recognition, and Natural Language Processing. A flexible BI framework is used to form the dashboarding interface. The fast analytics engine steps-up analysis of petabytes of data and the visual dashboards facilitate quick understanding of relationships between entities. The robust platform is capable of expediting days’ worth of data correlation effort to a few minutes.
White paper on "Unlock business value through the combination of Analytics and Artificial Intelligence".
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