Unfortunately, with the expansion of the storage and the capacity, we are seeing massive growth in data with the enterprises or large organizations. This massive expansion of data or the information with organizations is creating a new problem, which is “Unstructured data” most of it is not in the form of any sort of database.
Unstructured data, which is not stored as database, is mainly spreadsheets, text or word files, images or sound files etc. and it accounts for 85% of organizations core information, but it is not always easy to find, manage, or access the file that has been archived properly with religious backup following.
In a recent survey consisting of a data of past 2 years, it has been estimated that more then $3B in fines have been levied against corporations that were unable to produce the right piece of information when it was demanded.
Fortunately, some new generation of text mining tools allows enterprises with large amount of unstructured data to extract key essential elements, find out associations between files, and can easily summarize the information. Many organizations are deploying or considering such software tools to deal with their piles of text.
“We are getting an increasing understanding of what things are possible with text mining,” says Alexander Linden, an analyst at Gartner Inc. “But there is a huge skills problem in this area, which is why it hasn’t gotten much traction so far.”
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