Today unstructured data is generated across a multitude of organizations; this unstructured data is growing at a faster pace than the pace at which it is consumed. It is not possible for a human to manually surf through, understand insights and extract intelligence from unstructured data and communicate them across various channels. Computers can access and read through this data, however for computers, gathering data insights is not really possible.
Why unstructured data is a locked value!
All the information that is cluttered or scattered across files, and across platforms, is unstructured for a computer. This unstructured data can be present across emails, documents, files, on tweets, message boards, in forums, voice mails etc. to name a few. When valuable data is scattered across various mediums and across different platforms, it is a locked value, and cannot be utilized effectively to drive business growth.
Here is the information that can be unlocked by extracting or crawling relevant data insights from various platforms and presenting it in a structured analytical data format:
- Data insights and information which businesses need for formulating strategies
- Data to track market sentiment and competitor activities
- Latest news updates that can have an impact on your business
- Monitor customer behavior, opinions, requirements and grievances
- Social media insights and intelligence to improve on social listening
How web data extraction and data intelligence solutions deal with unstructured data
Manual processing of unstructured data to extract insight does happen implicitly, however it is not scalable for huge data volumes. Web data extraction and data intelligence needs to be dealt with this productively to increase the value of this unstructured data.
Extracting data into a structured format helps bring ideas and resources together and interconnects people, practices, and customers to build knowledge. Information extraction from an unstructured data can be done for people, addresses, phone numbers, etc. to name a few. It can be also done to extract the relationships between entities, to gain insights into customer behaviour, to track competitor strategies, product prices, extract information about products, events and much more.
Why social listening is gaining momentum
Another common type of extraction is the one that encourages social listening; it can be done by collecting information about customer interactions, their reviews, sentiment analysis etc. Extracting all this information and making it structured, enables represent knowledge in the most assertive, understandable and analytical manner.
With Data Intelligence, you get answers to your questions like:
- What products are the most popular and why?
- Why are customers leaving us?
- Why – a product that was once very popular, has reached its decline stage?
- What is the value of a ‘tweet’, a ‘like’ or a share?
- Are we providing the desired level or customer services or are our investments in this direction going waste?
- What is the best price for my product?
How is data extracted from web?
Web data extraction is a process where data is crawled and relevant information is retrieved from data sources like social media portals, forums, e-commerce websites, from emails, blogs, business websites, product comparison portals and several such locations. The data processing activity that follows includes addition of Meta data and other data integration processes. Major portion of the extracted data comes from data formats such as tables, indexes, forms and analytics.
How Data Extraction meets Data Analytics and Intelligence
A combination of data extraction tools and technologies enable you to get data analytics and intelligence of the most useful information across platforms. When this unstructured data is collated, examined and presented in a visual manner to uncover the hidden patterns and unknown co-relations, it can be used to take informed and hence better decisions.
When an information platter is not just a plate full of information, but it makes sense to you, and you know what to do with this information, it empowers your organization with actionable knowledge, insight and finally intelligence.
Information extraction is not about data, it is about insight, intelligence and its impact and this is what drives business growth. The potential of big data, data extraction and analytics lies in its ability to solve problems pertaining to your business and hence expand your horizons, making scope for more business opportunities. In order to make the most of your data extraction software, that help your transform data into actionable insights, it is important to form your questions well and define what and from where data needs to be extracted.
Web Data Extraction and Intelligence Software
DataCrops is a robust software platform that automatedly extracts insights from numerous websites and multifaceted data sources using a powerful self-enhanced technology. It extracts data, transform, load it, and also converts this extracted data into intelligence which helps different businesses.
Now when your requirements are clear, it becomes easy to transform unstructured data into useful and directed information that gives you an intelligence to solve your targeted problems and take firm and informed business decisions.
To know how you can grow business using DataCrops web data extraction solutions and data intelligence platform, request a free consultation today with one of our experts.