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What’s in Your Dark Data?

Using AI to explore new information

What’s in Your Dark Data?

How are you using your data?

According to studies from Splunk released last month, 56% of a company’s data is “dark data.” That means it’s information that you don’t know how to find, access, or leverage.

Despite this, 76% of respondents from the study surveyed across Germany, Australia, the UK, the US, and other countries believe that the organisation with the most data is also the most powerful.

While we all know how important having the right information can be when growing a valuable business, it’s crucial to remember that there are more insights out there than you might see on the surface. Like an iceberg, your company has huge amounts of information lurking beneath the surface, ready to be tapped by the right intelligent systems.

All you need is the appropriate AI strategy.

What is Dark Data?

According to Deloitte, the amount of data the world creates today is doubling in size every year. By next year, we’re going to have 44 trillion gigabytes of data floating around. This means that there’ll be almost as many data points in the world are there are potential stars in the universe.

The trouble is, we’re only tapping into a fraction of that information.

Although most companies have a strategy for using their open and available data, there’s also a lot of unstructured content out there that can’t be accessed by humans alone. Dark information is anything related to your business that isn’t indexed by search engines and data centres. It’s about capturing insights from deeper points in your organisation and discovering signals that would otherwise go untapped.

If you want to extract anything useful from this abyss of information, then you’re going to need artificial intelligence.

Leveraging Dark Data with AI

So, how can enterprises leverage all of this untouched “dark” data.

Well, first, they need to transform it into something more structured – something that can be stored on a spreadsheet or database. This extraction method requires AI and classification methods like language processing and ontology detection. It’s a process of using your intelligent tools to shed light on information and translate it into something human beings can understand.

When you turn untouched data into something more structured, you can make faster decisions, uncover smarter insights, and drive stronger outcomes for your business.

For instance, as an example, Vidicode recently started embedding compliant call recording and speech analytics tools into their tools. The Vidicode VoiceCrunch service allows businesses to analyse historical and real-time call recordings, extracting insights that would otherwise go unnoticed. For instance, VoiceCrunch can highlight statements from calls that allow companies to instantly recognise sentiment in a conversation and deliver better customer experiences.

The Benefits of Using AI to Leverage Dark Data

The more information you can collect about your business, customers, and position in the marketplace, the more accurate your decision-making becomes.

Thanks to artificial intelligence, it’s now possible for us to unlock dark data using natural language processing and other tools that we never would have been able to use before. With these solutions, we can:

1.      Improve The Quality of Research

Data collection is something that all businesses need to consider when they’re trying to make intelligent decisions about their future. For instance, in the contact centre, being able to analyse the sentiment in conversations will help businesses to find out how their customers feel about them, and what kind of conversations are most likely to lead to churn.

2.      Enhance Privacy and Compliance

Since GDPR rolled out in May 2018, companies everywhere have been looking for better ways to manage their data strategies. One of the most interesting components of GDPR is that customers can request for their data to be deleted if they no longer want to a brand to have it. However, if information is lost in an unstructured mess, unable to be accessed by the company, it’s impossible to remove it from the system. AI will allow businesses to extract any information required about a customer from even the most difficult-to-navigate environments.

3.      Make the most of Innovative New Tech

The more data we have to work with, the more opportunities there are to take advantage of new technology. For instance, with AI systems translating dark evidence on our behalf, we can use data virtualisation processes to connect all information sources into a unified dashboard. This brings more agility to data processing. More importantly, data is the lifeblood of new AI and machine learning systems. The more information you collect, the easier it will be for you to train new bots and intelligent services.

4.      Deliver Better Customer Experiences

Finally, using AI to access dark data means that companies can find out as much as possible about the clients they’re trying to serve. In a time where companies are under more pressure than ever to deliver incredible customer experiences, the more information we have, the easier it is to provide the experiences that you know your clients want. Analysing customer conversations, sentiment, and countless other data points will help businesses of the future to create the ultimate buyer journey, reducing churn and improving brand loyalty.

Combining Artificial Intelligence and Dark Data

Forward-thinking businesses around the world are already investing in artificial intelligence and other disruptive technology to solve complex business problems. Today, if you want to make the most of the data analytics environment, then you can’t afford to rely exclusively on the information that you can see right in front of you. It’s also essential to take full advantage of AI so that you can unlock unstructured data too.

One of the biggest challenges that businesses will face in this new era involves working out which dark data is useful to them, and which should simply be removed, archived, or deleted. One good thing to keep in mind is that the plunging costs of cloud storage should mean that you don’t have to throw away information unless you’re sure that it’s not relevant to your needs or your future.

However, that doesn’t mean that you can just store everything without a strategy. In a world of new privacy and compliance regulations, you’ll also need to ensure that you know how your information is collected, processed, and stored so that you don’t end up in unnecessary trouble.

 

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