The volume of unstructured data that businesses generate on a daily basis is staggering. It includes documents, emails, images, videos, social media posts, and other forms of data that do not have a predetermined structure. While structured data is easier to manage, unstructured data is more challenging to extract insights from because of its varying formats and lack of structure. However, companies that find ways to harness this data can gain significant benefits that will help them stand out in the competitive landscape.
One of the most effective ways to extract value from unstructured data is by using a document understanding platform like Document Al. This technology can transform unstructured data into structured data that is easier to analyze and understand. In this blog post, we will discuss the top three benefits of capturing unstructured data for businesses and how cloud computing plays a role in these benefits.
Top 3 Benefits of Capturing Unstructured Data
#1 Enhanced Decision Making
One of the key benefits of capturing unstructured data is that it provides businesses with a more comprehensive view of their customers, competitors, and industry trends. By analyzing unstructured data from various sources, companies can gain insights that would be difficult to obtain from structured data alone. For example, a retailer can analyze social media posts to understand customer sentiment about their brand or products. By capturing unstructured data, businesses can make more informed decisions, enhance customer satisfaction, and gain a competitive edge.
Cloud computing can significantly enhance the process of capturing and analyzing unstructured data. Cloud platforms like Google Cloud Platform provide scalable and cost-effective infrastructure for storing and processing large volumes of data. By using cloud-based document understanding platforms, businesses can capture and process unstructured data in real time, enabling them to make faster and more accurate decisions.
#2 Improved Efficiency and Productivity
Another significant benefit of capturing unstructured data is that it can improve efficiency and productivity. When businesses use document understanding platforms like Document Al to process unstructured data, they can automate many manual processes that would otherwise be time-consuming and error-prone. For example, an insurance company can use a document understanding platform to automatically extract data from claims forms, eliminating the need for manual data entry. By automating these processes, businesses can reduce costs, improve accuracy, and free up employees to focus on more strategic tasks.
Cloud computing also plays a critical role in improving efficiency and productivity. By using cloud-based tools, businesses can reduce the time and resources required to set up and maintain infrastructure. Cloud platforms provide scalable and flexible infrastructure that can adapt to changing business needs, enabling businesses to focus on their core competencies.
#3 Competitive Advantage
Capturing unstructured data can provide businesses with a significant competitive advantage. By analyzing unstructured data, companies can gain insights that their competitors may not have access to. This information can help businesses identify new opportunities, develop more effective marketing campaigns, and make better strategic decisions. By leveraging the power of unstructured data, businesses can differentiate themselves from their competitors and create a sustainable competitive advantage.
Cloud Computing and Data Capture Pipelines
Cloud computing can help businesses gain a competitive advantage by providing access to cutting-edge technologies like machine learning, artificial intelligence, and natural language processing. These technologies can be used to analyze unstructured data and extract valuable insights that can drive business growth.
Build a Document Data Capture Pipeline for $70/month
Getting started with the Google Cloud Platform is easy and straightforward. With a user-friendly interface and comprehensive documentation, businesses of all sizes can quickly create an account, choose from a variety of services, and start building their applications and services in the cloud. Additionally, Google Cloud Platform provides a free tier that enables users to explore the platform's capabilities and try out different services without incurring any costs. Whether you are a developer, data analyst, or IT professional, the Google Cloud Platform offers the tools and resources you need to succeed in the cloud. If you have questions about data pipelines, please contact the Suitebriar team.
Example Architecture Diagram of a Document Data Capture Pipeline
Example Pricing Calculation | Region: Iowa, Currency: USD
|
Services |
Item |
Quantity |
Price |
|
Document AI |
Form Parser |
1000 pages/month |
$65.00 |
|
Cloud Storage |
Storage Capacity |
5 GiB |
$0.10 |
|
BigQuery |
Storage Pricing |
100 GiB |
$2.07 |
|
Query Pricing |
1000 GiB |
$0.00 |
|
|
Cloud Functions |
512MB, CPU 800 MHz |
1000 invocations, 10 min per exec |
$2.80 |
| Total Monthly Charges: | $69.97 | ||
The pricing estimates above are subject to change. Please refer to the pricing calculator for the updated pricing. Free Tier is applied to the above estimate up to the usage limit.
Conclusion
Capturing unstructured data can provide businesses with numerous benefits, including enhanced decision-making, improved efficiency and productivity, and a sustainable competitive advantage. By using document understanding platforms like Document Al and leveraging the power of cloud computing, businesses can unlock the full potential of unstructured data and gain a competitive edge in their industry.
