Did you know that many companies can’t easily access 80% of the data they generate? It’s true! Up to 80% of the data that most companies generate is in the form of unstructured data. In contrast with structured data, which are data points that can be easily classified and grouped, unstructured data are much harder to manage and come in unique formats.
In today’s blog, we’re going to take a look at what unstructured data is and how new AI tools can help your business use that data more often and more easily.
Structured vs. Unstructured Data
Before we dive into how AI can help with unstructured data, we need to look at what unstructured data actually is and how it’s different from structured data.
Put simply, structured data is data that’s organized in a set format, like a list of names or transactions, a database, or a table. If you can put it into a spreadsheet, it’s structured data.
Unstructured data, on the other hand, lacks consistent organization and a clear way to extract or access it. For example, PDFs, audio files, social media posts, webpages, and emails all fall under the umbrella of unstructured data. These types of data can contain invaluable information—both quantitative and qualitative.
For example, a PDF contract may contain important quantitative information about your business’s agreement with a client, while an email exchange between that client and your customer service team may give you qualitative data about what they expect from your partnership (communication preferences, for example).
How AI Can Help
So, how can AI help address unstructured data? The best way to apply the power of AI to your company’s unstructured data is through an intelligent information management system like M-Files. Here are some ways an AI-enabled information management system like M-Files can help with unstructured data:
- Organization: Through the use of intelligent metadata, M-Files can organize and classify PDFs and other text documents, including saved email chains and other similar files. M-Files organizes data according to metadata, not repositories, so your unstructured and structured data are unified across your company.
- Summaries: AI-enabled chatbots and other tools can quickly “read” through a document and create a short summary paragraph. Employees can therefore gain the pertinent information from an unstructured data source without having to read through the entire thing.
- More Powerful Searches: With unstructured data, you might not know what you’re looking for until you find it. For example, if your sales team is preparing to meet with a client, they’ll want to find every bit of information your company has on that client—without knowing exactly where that information is stored. AI-enabled search fields enable employees to access unstructured data without having to painstakingly pick through all the data in your organization. Instead, the AI tool can make suggestions and refine its search results until the employee is satisfied.
Of course, AI is still in an early stage of development—we’re just beginning to understand the many different applications it can have on the business world (along with everything else). But even the current features of AI can make a huge difference for businesses looking to put their unstructured data to better use.
Could You Be Using More of Your Data?
If you aren’t taking advantage of the unstructured data your company is generating, you’re missing out on a great source of information. Here at Laminin, we’re passionate about helping our clients make the best use of their data through the latest technological innovations. Contact us today to learn if M-Files is right for you.