How are you using your data?
According to studies from Splunk released last month, 56% of a company's data is "dark data." That means it's information that you don't know how to find, access, or leverage.
Despite this, 76% of respondents from the study surveyed across Germany, Australia, the UK, the US, and other countries believe that the organisation with the most data is also the most powerful.
While we all know how important having the right information can be when growing a valuable business, it's crucial to remember that there are more insights out there than you might see on the surface. Like an iceberg, your company has huge amounts of information lurking beneath the surface, ready to be tapped by the right intelligent systems.
All you need is the appropriate AI strategy.
What is Dark Data?
According to Deloitte, the amount of data the world creates today is doubling in size every year. By next year, we're going to have 44 trillion gigabytes of data floating around. This means that there'll be almost as many data points in the world are there are potential stars in the universe.
The trouble is, we're only tapping into a fraction of that information.
Although most companies have a strategy for using their open and available data, there's also a lot of unstructured content out there that can't be accessed by humans alone. Dark information is anything related to your business that isn't indexed by search engines and data centres. It's about capturing insights from deeper points in your organisation and discovering signals that would otherwise go untapped.
If you want to extract anything useful from this abyss of information, then you're going to need artificial intelligence.
Leveraging Dark Data with AI
So, how can enterprises leverage all of this untouched "dark" data.
Well, first, they need to transform it into something more structured - something that can be stored on a spreadsheet or database. This extraction method requires AI and classification methods like language processing and ontology detection. It's a process of using your intelligent tools to shed light on information and translate it into something human beings can understand.
When you turn untouched data into something more structured, you can make faster decisions, uncover smarter insights, and drive stronger outcomes for your business.