September 12, 2023
You may be surprised to learn that more than 80% of the data existing in the world have been developed in the last 5 years. So, one can imagine the speed at which amount of data in the world is growing. These data could be either structured or unstructured. Most of the data forms that we are generally aware of are unstructured data, such as emails, chat messages, notes, images files, music & audio files, video files, web content, presentation, pdfs etc. Whereas, the structured data are the ones which can be stored in a relational database and spreadsheets in ordered columns and rows. These structured data are easy to record, store and analyze.
Business Intelligence is a set of tools and systems to collect, store, process, analyze and transform structured, semi-structured and unstructured data to help corporate in decision making.
In pressing and highly competitive market situation, companies want real time analysis of both structured and unstructured data, to be capable of making real-time decisions and process efficient business operations. Business intelligence will provide additional support for unstructured data management. An integrated platform of Business Intelligence and Big data analytics will offer options to build and buy. The factors that need to be considered are systems, sources, support level, staff competence etc. The companies may even choose to go for separate structured and unstructured data as well as to build GUI layers and applications.
To analyze unstructured data, cloud computing technologies can be put to use. Combined with online data sources, a new set of solutions can be developed that will bring out an effective analysis of unstructured data.
Above all, knowing your business is the foremost factor when you are thinking to use any technology. It is important to understand and evaluate the risk and benefit levels involved with it, only then arrive at any decision.