Develop/acquire algorithms. There are several kinds of approaches to process unstructured data. Companies can use heuristics, as well as machine learning techniques, to process data. For text mining, natural language processing, combined with neural networks, allows companies to capture the sentiment of social media feeds. Support vector machines allow classification of graphics that enable companies to identify whether visitors are customers or store associates. Techniques, like Bayesian Networks, can help discover patterns across multiple dimensions, allowing organizations to learn by mining existing data. There are several algorithms that are freely available through open source communities. However, it is important to note that you will almost never get it right the first time. Companies should also invest in good visualization techniques. Given the volume of data, visualization is a key factor in ensuring better consumption of insight from the data; often, visualization becomes as important as the analysis.
All Information Management articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to:
- Full access to information-management.com including all searchable archived content
- Exclusive E-Newsletters delivering the latest headlines to your inbox
- Access to White Papers, Web Seminars, and Blog Discussions
- Discounts to upcoming conferences & events
- Uninterrupted access to all sponsored content, and MORE!