Were you aware that a human brain receives 10 million bits of information in one second? It's similar to a computer when it downloads a single piece of document from the web over the internet.
But did you know that information processed by the brain is only 30 bits per second¹? So 70% of it is ideally lost!
The same goes for an organization.
Did you know that according to Forbes, there are 2.5 quintillion bytes of data created each day, and only 0.5% of data is analyzed! That is definitely mind-boggling, isn't it?
Data firstly helps you understand your current ongoing business process (derivation of data) and help you make suitable decisions to overcome losses, reduce risks and make good investments in the future.
Right from the product design until the customer support and sustainability, you as a company will be dealing with millions of data in the form of information for deriving respective results and making extremely crucial decisions for your company.
Data can be classified primarily into three types: structured, semi-structured, and unstructured data.
But did you know that of the total data your company has access to, approximately 80-90% of it is unstructured? But what is unstructured data? And how are the different types of data classified into? Let’s look further into this today.
All Data in varied formats can be classified into Semi, Structured, and Unstructured Data.
Let’s elaborate on the specifications of each for better understanding.
We need to find opportunities to manage and derive actionable insights from the 2.5 quintillions of data being generated every day to be on par with our competitors. As most of the organizations have 80-90% unstructured data, it is vital suitable means and methods are used to create hard and soft benefits and production of tangible business value.
With the estimation of the unstructured data growing at a staggering rate of 55-65% each year, it becomes imperative that suitable solutions are catered to by the organizations all around to create sustainable outputs.
This is exactly where Straive comes to play!
Straive helps unlock the potential of unstructured data with its proprietary Straive Data Platform (SDP). The end-to-end data management platform provides – faster time to market, better data coverage, consistent quality, and scalability – through a structured approach and an automated platform.
Regulators want LIBOR to phased out by December 2021, banks and financial institutes must pivot to risk-free alternative rates.
We have been recognized among the “Top 20 Most Promising Big Data Solution Providers – 2020” in a recent listing by a leading global print magazine. The aforementioned list recognizes an exclusive set of solution providers with a proven track record of consistently delivering customer goals.
The COVID-19 has triggered a rush of clinical trials to discover vaccines, threatening the continuity and success of non-COVID-19 drug discovery pipelines. This guide will help you learn to mitigate these new challenges, maintain pole position, and grow your business into the future with practical strategies for decentralization.
Enterprises tend to employ data from external sources in their data strategy to convert insights into financial gain as they mature in their data journey. This external data comes in diverse forms. However, for enterprises, the most critical is public data.
There are currently no compliance mandate around ESG reporting, especially for private companies, and such reporting is voluntary. While many large companies report on ESG as part of CSR, growing awareness among investors and consumers about ESG has led to this becoming a more widespread practice.