listening247 in the Press
listening247 In the Press
listening247 CEO spoke to Analytics Insights on how marketing strategies can benefit from AI-based unstructured data analysis
Michael Michalis, CEO of listening247, delves into how AI-powered unstructured data analysis can transform marketing strategies with greater nuance. In today’s data-driven landscape, the ability to gather, interpret, and act on data is crucial for business success. However, the sheer volume and variety of data—from meticulously organized databases to spontaneous social media posts—can be overwhelming. This data can be broadly categorized into structured and unstructured data, each with its own implications for decision-making and strategy.
Structured Data
The term structured data refers to data that resides in a fixed field within a file or record. Structured data is typically stored in a relational database (RDBMS). It can consist of numbers and text, and sourcing can happen automatically or manually, as long as it's within an RDBMS structure. It depends on the creation of a data model, defining what types of data to include and how to store and process it.
Unstructured Data
Unstructured data (UD) encompasses all data that lacks a predefined format or data model, making it distinct from structured data. Unlike structured data, which is neatly organized in tables and fields, UD includes diverse formats such as text, rich media, social media activity, and surveillance imagery. Its volume significantly surpasses that of structured data, making it a vast, often untapped resource for insights.
While structured data offers valuable numerical insights, it falls short in capturing the depth and nuance found in UD. This type of data, growing at an exponential rate, includes everything from social media posts to multimedia content. As IDG predicts that 93% of digital data will be unstructured by 2022, businesses that learn to harness this data will gain a competitive edge. Despite its potential, UD remains underutilized, often referred to as "dark" information due to its raw and unprocessed nature.
Recent advancements in AI and machine learning have revolutionized how unstructured data can be leveraged for marketing. By applying these technologies, companies can transform vast amounts of UD into actionable insights, such as sentiment analysis from customer reviews and feedback. This shift allows marketers to move beyond traditional demographic segmentation and gain a more sophisticated understanding of their market, revealing hidden opportunities and enhancing strategy through sophisticated "dark analytics."
Conclusion
In conclusion, as Michael Michalis highlights, the true value of data lies not just in its collection but in its interpretation and application. While structured data offers clarity, unstructured data holds the depth and nuance necessary for comprehensive marketing insights. Advances in AI and machine learning are making it possible to unlock this previously elusive "dark" data, providing businesses with richer, more actionable insights. Embracing these technologies can transform how companies understand and engage with their customers, revealing valuable opportunities hidden within the vast expanse of unstructured data.
Origal Source: Analytic Insight
