Unlock the Hidden Power of Dark Data to Boost Your Business!
Unlock the Hidden Power of Dark Data to Boost Your Business!
Why Dark Data?
Dark data is the data companies collect, process, and store. It’s often unstructured, scattered, and neglected. Many businesses still store data without any real purpose other than compliance requirements.
Do you know about the untapped potential hidden within your unstructured data assets?
Have you ever heard that the companies access only about 20% of their available data regularly?
So, why consider dark data and what’s so special about it?
The questions are endless…
Until recently, technology didn’t allow to harness enormous amounts of data. Today, the situation has finally changed. The increasing number of companies take advantage of valuable dark data. Actionable insights and new revenue opportunities move businesses into the data-driven era.
The data available in every business is a crucial intangible asset. It can be used for decision-making, both on operational and strategic levels. When leveraged correctly, data-derived insights can have a substantial economic impact and value.
Leveraging data for decision-making makes a huge difference. It sets your company ahead of its competitors.
Why Dark Data is Such a Valuable Asset?
Dark data provides information that is often not available in any other format. The companies can make efficient decisions in the future based on the insights in the past. Many companies still have to pay the cost of storing dark data for compliance purposes only. As a result, they resort to human resources to extract and annotate this data. They also need to enter it into a relational database, even though this process is costly.
Deep learning technologies perform dark data extraction faster and more accurately than humans. Dark data extraction is less expensive and requires less engineering effort. It helps to quantify known patterns and challenge assumptions.
Advantages of Dark Data
Dark data has the potential to create new revenue sources and streamline processes. It facilitates an understanding of the relationship between separate pieces of information and reduces costs.
Better-quality analytics. Access to better data sources and information improves quality analytics. The analysis is based on a larger pool of high-quality data. Hence, enhanced data-driven decision making leads to business and operational success.
Reduced costs and risks. Extracting dark data makes businesses less exposed to risks in securing sensitive information. The companies can remove unnecessary data, reducing recurring storage and curation costs. Regulatory compliance also becomes more manageable.
Taking benefit of the lost value of vast amounts of enterprise data. By applying a fast data approach to data in the pipeline, businesses can extract real-time information. By doing so, they can get the most of every data point that comes their way.
Gain insight into sales, production, and distribution trends. By extracting value from data, businesses gain invaluable insights. These insights include insights into production, sales, and distribution trends.
Smart use of dark data is all about careful storage and more effective curation. In essence, this means storing dark data safely in a way that permits its easy retrieval. It’s crucial to know how best to analyze the information to harness its potential.
Governing dark data allows businesses to analyze what is still missing and to enhance business intelligence.
Dark Data in the World of Business
In recent years, many businesses began exploring different approaches to develop digital experiences. The companies analyze the dark data extracted from customers’ digital experiences. Such an approach is extremely helpful in merchandising, marketing, and customer service.
Unveiling new business value leads to new opportunities and increased analytics ROI. The customers, in their turn, enjoy personalized experiences.
The potential of dark data is exciting!
Focus your dark analytics efforts on areas that matter to your business!
By turning customer data into actionable intelligence, businesses adjust to the customers’ needs. It’s not about getting the big data right. It’s about the unique connection between people, process, and technology.
A company should have a full understanding of dark data. Information about data potential, benefits, and risks ensures your business growth in future. A wealth of connected data helps businesses become more efficient, selective, and relevant.
Dark data can be a powerful weapon when extracted correctly. There’re tons of unleveraged data still hiding over there. Today, we have the tools to uncover those actionable insights. By shedding light on dark data analytics, one can form a more predictive strategy.
