Big Data Analytics
Significant increases in the volume of data is creating a huge opportunity for companies of all sizes to make a significant impact on their overall business growth by improving products, services, customer experience, and productivity. The amount of data created every day is staggering, most of which is comprised of unstructured text:
- Twitter feeds generate 8 terabytes of data per day (InformationWeek)
- Facebook users shares over 1 billion pieces of content every day (McKinsey)
- The New York Stock Exchange creates 1 terabyte of data per day (InformationWeek)
- 10,000 payment card transactions are made every second around the world (American Banker)
However, according to Gartner research, more than 85% of Fortune 500 organizations will be unable to effectively exploit Big Data by 2015. With the growing volume, velocity, and variety of data, how can businesses access, transform, and integrate the unstructured data from these sources to turn it into actionable information for competitive advantage?
Big Data Applications Using Unstructured Text
In order to extract substantial value from Big Data, companies need to be able to access, process, and analyze in relevant unstructured data that will have material impact on their business – “Predictive Analytics”. Predictive Analytics will enable intelligent and actionable decision making that will transform businesses into agile, data-driven, and more successful organizations. Types of analysis that are possible by analyzing unstructured Big Data companies are:
- Advertising optimization
- Customer trend analysis
- Brand sentiment analysis
- Product sentiment analysis
- Online news/product comment analysis
- Customer support optimization
- Post audit analysis
- Log file analysis
Further, by combining unstructured data with structured data analysis companies can create a more complete single view of their brand, products, and customers.
IT.com for Big Data
IT.com provides the world’s most powerful software-as-a-service (SaaS) platform for the analysis of unstructured information, providing our customers with an interactive interface, advanced visualization tools, and reporting at a fraction of the cost and complexity of other approaches. As a result, IT.com connects more business people to relevant business data helping them ultimately make better business decisions. With IT.com, companies can gain access to the necessary data at for generating meaningful intelligence that can help save costs, grow revenue, create new compelling products, improve customer experience and improve overall business growth.