Most big data projects are far from big in the sense of not analysing all the data relevant to optimal analysis and decision making.
Much is hidden and inaccessible despite the use of document management and enterprise search tools.
Hidden in freeform text, letters, handwritten notes/slips, photos and images.
Rigid metadata classifications often mean investigators cannot follow up hunches and intuition with standard enterprise search tools.
Only by using tools such as 360Retrieve can insurance companies open hidden data that can help fraud investigators follow a hunch. Give them the ability to interrogate unstructured data and access to 100% of your business information and intelligence by turning your unstructured text into instantly searchable data.
Manufacturing is also ripe for such initiatives. Information hidden in blueprints, in silos of isolated datasets with different data custodians. This is a typical result of acquisitions.
PwC's2016 Industry 4.0: Building the Industrial Enterprise survey has bad and good news!
- of 2,000 respondents only 18% rate the maturity of their data analytics as advanced. Only half use data to drive decisions. That's the alarming part.
- Dan DiFilippo states that cost-effective data analytics tools available and gives practical tips to make data-driven decision the standard in your company
Competitive advantage is dependent on extracting the value of all relevant data across an enterprise. Few achieve that standard.
The amount of hidden information and rigorous analysis of it that can create actionable intelligence is overwhelming. Corporations that do not tap into and leverage that resource will be stranded.