Data is a big deal. It is a new goldmine for businesses that are driven by data. Massive amounts of this new gold pours into organizations in the form of various kinds of information, or “big data.” But there is a challenge with all this new information coming in daily. More than 90% of it is unstructured
Big data, or unstructured data, are data contents that cannot be neatly fitted into a spreadsheet or accessed as easily as a database. It is difficult to store and manage, but creative minds have been finding new ways all the time.
It can be difficult both to analyze and to search, which has made this type of information less useful for organizations. Less useful until recently now that we have tools powered by Artificial Intelligence (AI) and Natural Language Processing (NLP). These new AI programs were specifically created to access insights from these types of unstructured data sets.
With the recent flood of unstructured data, it has become easier than ever for businesses to make use of this new source. Business Analytics (BI) and analytics tools are being developed that have been specifically created with the goal in mind. The goal of analyzing all types or formats is to discover actionable value.
The main tool that organizations use to help analyze the various kinds of unstructured data is the process of extraction. This means, in very simple terms, mapping or tagging key elements of the content in question.
For example, photographs cannot be analyzed as structured textual data that has been neatly fitted into a spreadsheet. They are composed of pixels rather than words. But if you look for certain items or elements in the photographs, you can then tag or label them according to important ideas. The extraction of these tags, or labels, becomes your data. These data discoveries can then be used for actionable business insights.
When the data is properly analyzed, or discovered, it can be classified. Data classification is the process of tagging data according to its type, its sensitivity, or its confidentiality, and the cost if altered or stolen.
With classification information, you can implement security controls to protect data from accidental or intentional compromise as well as comply with the compliance mandates.
The Contents Analytics Platform (CAP)
The Content Analytics Platform, or “CAP,” is a customizable text analytics tool. Using Artificial Intelligence (AI) and Natural Language Processing (NLP), it can easily provide customizable and configurable insights into your data content. The CAP can quickly analyze either structured or unstructured textual data, producing both structured and manageable data contents.
The CAP is comprised of various independent components. These are applications, dictionaries, and templates, which can work together in different combinations to analyze your unstructured data and deliver results.
The components of the CAP come as a standard package. Applications and templates that you can use right out of the box. The CAP is also designed to be flexible and scalable to meet your content analysis needs.
Here are just a few examples of the many tasks that can be easily and quickly performed with the CAP:
· Decide whether to bid on a Request For Proposals (RFP)
· Comparatively evaluate resumes for the best job candidate
· Evaluate document readability and even improve it
· Generate a table of acronyms and their definitions
· Ensure full proposal compliance with RFP requirements
· Breakout all RFP requirements into a structured, easily viewable, easily manageable document
· Identify all common themes, phrases, words in your content
· Compare document differences and gaps side-by-side
· Capture important content terms and create a dictionary with them
With a little imagination and skill, you can create your own applications and templates.
In the age of big data, it’s easier than ever for businesses to extract value from unstructured data. BI and analytics tools are being developed that have been specifically created with this goal in mind –analyzing all types or formats so you can discover actionable insights on demand.
The Content Analytics Platform (CAP), developed by Scion Analytics, can help with textual data discovery. The CAP can quickly analyze any textual data, in any format, and turn it into structured data that is discoverable for value.