Difficult To Analyze
Since there is a lot more unstructured data than structured data, there are also challenges associated with this type of data. First, unstructured data is difficult to analyze. An average person with a working knowledge of Excel cannot mine unstructured data. This is more realistic for using structured data sets with business intelligence. Processing unstructured data is reserved for data scientists and data analysts with proper training and tools. Unstructured data in raw format is difficult to wrangle and interpret.
Requires Specialized Tools
Second, unstructured data requires specialized tool. Most businesses invest in a specific data management tool to analyze data. For example, the text analytics platform from Scion Analytics, the CAP liberates value from unstructured data with AI and NLP powered capabilities. With minimal training, a business can use the CAP to analyze and process data they did not even know they had. These new insights could amount to data drive an actionable decisions on business intelligence that was previously based on guesswork.
Other challenges of unstructured data include the storage aspect. Structured data has a predefined format, and it is easy to store and organize. Due to a lack of schema and structure, unstructured data is expensive and difficult to store. Having to manage the storage aspect of unstructured data is just one facet that differentiates it from structured data.
Since structured data has been traditionally used for a long time, approaches to unstructured data are still being developed. Indexing unstructured data is difficult and prone to error due to free form structure and a lack of pre-defined attributes. The difficulty of accessing and analyzing unstructured data makes search results not very accurate. Finally, the complexity of unstructured data makes security a challenge. Whereas security methods for structured data are available, they are still being developed around the security of unstructured data.
The buzz about unstructured data has gripped businesses across industries. Many businesses from healthcare to technology have been revolutionized by access to previously hidden insights that reside in unstructured data. Executives across the world embraced unstructured data with its boundless opportunity.
A new crop of technological advances grew up around unstructured data. Text analytics platforms, statistical models, and AI powered tools have been developed to harness unstructured data. This innovation has not gone unnoticed by the business sector. Benefits of unstructured data are far reaching in implications. For a business if 80-90% of data is unstructured, the insights gained from analyzing this data set are unlimited. These insights create new revenue streams, scale businesses, and push innovation forward into the future.