Lesson 4 - ANALYSIS OF UNSTRUCTURED DATA What does it mean?

Step 1 of 3

In modern enterprises, there is a large number of unstructured data that are included in text documents, presentations, graphics, emails, audio and video files, websites and all sorts of office software. In addition, part of business processes is in the form of unstructured data in the minds of employees. Information value of unstructured data is huge and unfortunately difficult to specific estimate. How this information is important is confirmed if we attempt to imagine what would happen if we do not have it? Unfortunately, negligence in this area in a crisis situation could result in spectacular mistakes of people in different positions. On the other hand, neatness in the information and accurate search translate to acceleration and improvement of the quality of business processes. As a consequence, it has a great impact on competitive advantage in an ever more dynamic environment, e.g. for the Fukushima the consequences were devastating, as Martin White[8] put the thesis that "the eruption of a nuclear power plant in Fukushima occurred due to a failure to find in time the current technical documentation describing the procedures for reactor shutdown. Just after the tsunami, there was very little time to undertake this action and in an emergency situation the staff failed to perform this procedure because no one could quickly find out how to do it correctly."

Another new source of unstructured data is information from all kinds of social media (e.g. Facebook, Nk.pl, Google + Twitter, Blip) and Internet resources. It is difficult to analyze, because it rarely contains specific numerical values, and it changes over time, but can be tested for the presence of keywords, frequency of entries or the use of selected words or phrases, appearance of positive or negative connotations, and so on. By analyzing this data, a fuller picture of the expectations and needs is obtained, e.g. it is possible to: identify customers, adjust the offer to the customer, check market reaction to the product, price the product to others, compare the response to competitive products or evaluate the risks of business decisions.