Only a very small portion of Enterprise data is structured; most of it is noisy, unstructured text and is often distributed across the organisation. These rich datasets come in wildly different forms for different organisations, they may be patient notes or insurance claims in healthcare, multi-lingual supply chain data in retail & manufacturing, very short employee data in HR, technical documentation such as leased line data in telecommunications, and many more.
However, there is a disconnect in most organisations: Whilst unstructured data is most prevalent, it is usually only the structured data is that is used. The very rich unstructured data is often left sat in a data warehouse unused. Gartner recently stated that an 8x uplift in value could be achieved if unstructured data is used as much as structured data is today.
We see two linked reasons for this:
- Enterprise data is very confidential. It simply cannot be sent across the public web to the cloud and so this means that in-house solutions must be developed to extract value from it.
- Data Science talent is expensive and scarce (in fact, there are only circa 22k fully qualified AI scientists in the world) and so when available time is focussed only on the easy to process & access structured data.
At Chatterbox Labs we take an unstructured first approach with our Artificial Intelligence software portfolio. Importantly this software portfolio:
- Empowers non-Data Scientists to generate results in days, and
- Is deployed on your infrastructure so no data must leave
By taking an unstructured first approach, the time consuming & laborious work of structuring the data, feature engineering and modelling is offset to the software. In fact, the whole process from data in, to classification results out is automated so that staff time is maximised. To us, structured data is just a simplified version of unstructured data.
Organisations that use our software move away from the model of long, point based solutions in which the underlying machine learning is tinkered with for months, to a rapid and iterative approach in which business outcomes are the focus (letting the software handle the machine learning).
Your organisation will be sat on a goldmine of unstructured data; if you’d like to find out more about our software, please contact [email protected]