Unlock the Hidden Power of Dark Data to Boost your Business
With leaps in computing technology, data-driven decision making in business has taken center stage worldwide. Companies of all types and sizes worldwide are now basing important business decisions on actual hard data. Instead of empirical guesses and estimates, companies worldwide are analyzing the data available at their disposal. There are billions of exabytes of information out there in the form of “dark data”. Here’s why you need to unlock its hidden power for the growth of your business.
What Exactly Is Dark Data, Anyway?
Dark data is the unstructured and chaotic data generated by businesses and consumers every second of the day. Today, most businesses have to store trillions of bytes of data simply for compliance and regulation. Hidden beneath the quagmire of these bytes is “dark data”, which can provide you with a veritable goldmine of actionable business insights. Storing data is cheaper than dark data analytics, which leads to a lot of losses.
With the advent of data science, machine learning, and AI, data is once again coming into the limelight. Businesses worldwide have figured out exactly how very important dark data can be for them. Until very recently, companies didn’t know how to tap into the immense potential of dark data. This is one of the most crucial assets that your firm can use, and you need to know how to leverage its potential properly.
How to Come Up With Dark Data Solutions?
Before jumping to conclusions, you have to appreciate the pervasiveness of dark data. Did you know that 85% of all recorded information can be categorized under this umbrella? This info is all unstructured and chaotic, consisting of images, logs, large blocks of text, and so on. Unlike all forms of structured information, which can be represented in a tabular format, dark data is very difficult to illustrate. This is the biggest challenge.
Unstructured dark data can only be illustrated with the help of paradigm-shifting platforms known as “non-relational databases”. A good example would be MongoDB, which has only grown in popularity over the past 2-3 years. Dark data needs to be treated very differently than other forms of data. If you manage to harness the power of these swathes of information, then you’ll need to employ non-traditional mining techniques.
Using the Internet of Things to Analyze Existing Dark Data
The Internet of Things or IoT is a very valuable technology that has been coming up in recent years. By 2025, the total number of active and connected devices in the IoT network is expected to be more than 30.9 billion. Integrating IoT systems with a business will result in the generation of a lot of information. Introducing IoT to dark data and allowing them to mix will result in 269 times more data than before.
Out of this entire leviathan chunk of raw data, more than 80% will be unstructured and dark. If your business can harness the data and retrieve actionable insights from within, it will be a game-changer. IoT devices are going to be very important in the healthcare industry as they can offer insights and information from the healthcare sector can provide researchers with a lot of valuable information. Advancements in healthcare can be made by tapping dark databases.
Benefits Afforded by Analysis of Dark Data
Here are all of the different business advantages that you will enjoy if you’re able to harness dark data’s potential.
Act on Real-Time Information : Dark data is generated every second of every day. When you store data for later review, you’ll miss out on the present multitudes that it contains. If you use dark data-machine learning analysis techniques, you’ll be able to act on real-time information.
Gain a Lot of Valuable Insight : Dark data will also permit you to gain a lot of insight into the minds of your customers. You can also provide your customers with an enhanced and personalized experience by tapping into dark data. The insights you’ll reap will help you very much.
Stop the Wastage of Data : All companies choose to generate and store data just so that they’re compliant with regulations. If you analyze and sift through the terabytes of data you’ve generated, you won’t waste your data anymore. Instead, you can put it to work and enjoy the fantastic results.
Reduced Costs and Risks : When you analyze a lot of information and glean actionable insights, you’ll also be insulating your business from harm. You’ll also be able to remove many redundant and recurring data, which will help you cut down on costs. Compliance also becomes very easy.
The Best Way to Extract and Analyze Dark Data
The information provided by dark data is unavailable in any other format. You can use this data to make future decisions based on trends and patterns in the past. This is a very powerful tool and can help you to perform at a standard above your competition. The best and only way to analyze dark data is to use machine learning, deep learning, and AI.
These are statistical models and algorithms that can be trained to analyze vast stacks of raw, unstructured data in a very short window of time. If you want to glean actionable insights from the stack of raw data sitting unused in your servers, you need to employ the services of data scientists and analysts. They can help you out greatly.
This has been a concise enumeration of what dark data is, how to develop dark data solutions, and how dark data will be advantageous for your business. If you want to learn deep insights and make data-driven decisions for the business, you have to use deep data archives. The new information that you are sitting on can be a game-changer for your firm.