Webinar – Leveraging Intelligent Automation Synergies for Insurers6/201 PM ET

Turning Unstructured Data into Actionable Insights

August 23, 2023

 

In today’s data-driven world, information is the crown jewel, with businesses accumulating data at unprecedented rates. Yet, not all data follows a neat pattern. According to Gartner, as much as 80% of enterprise data today is unstructured and not organized in a predefined manner.  What’s more, it’s growing at an impressive pace of 55% to 65% annually. But here’s the question: How can companies transform this data into a competitive edge?

The Challenge of Unstructured Data

Unstructured data, like everyday conversations, images, or videos, can be a puzzle to piece together into something useful. This poses a considerable hurdle for businesses striving to extract value from their data. Unstructured data can assume various forms:

  • Web pages 
  • Blog posts
  • Emails
  • Open-ended survey responses
  • Call-center recordings
  • MP3 & MP4 files

The main challenge with unstructured data is its absence of a clear workflow. Unlike structured data, which can be neatly categorized and analyzed, unstructured data—like everyday conversations—presents intricacies that require additional steps for effective analysis.

These complexities can arise in a customer service unit dealing with a high influx of customer queries via emails and chat logs. Or in a social media marketing team collecting customer opinions from comments and reviews. Without organization, this data becomes nearly impossible to spot trends or pinpoint areas for improvement.

Converting Unstructured Data into Valuable Insights with ChatGPT

Structured data permits easy searching, categorization, and analysis, resulting in better decision-making. With AI tools like ChatGPT, companies can decipher unstructured data, such as customer chats or social media remarks. By integrating ChatGPT into their workflows, companies can harness its abilities to arrange and extract precious insights from unstructured data.

Strategies to leverage ChatGPT for organizing unstructured data:

  • Automating the categorization and analysis process: A company swamped with customer emails can use ChatGPT to automatically sort the emails based on content—complaints, inquiries, feedback—saving time compared to manual sorting.
  • Extracting key information or entities from unstructured data: ChatGPT can identify crucial details in customer interactions, like product names, specific issues, or customer preferences. This lets businesses categorize insights rapidly, make educated choices, and take action.

Next Steps

If you’re excited to tap into the potential of ChatGPT and AI orchestration for structuring your unstructured data, we welcome you to explore our latest webinar: “Unstructured to Structured Data with ChatGPT.” In this session, industry experts will showcase how Decisions can orchestrate ChatGPT to establish consistent column names, enable JSON processing, and standardize various data elements within unstructured data. This process assists your team in turning raw data into valuable assets, enhancing data consistency, and streamlining operations.

If you’re ready to dive right in, don’t hesitate to contact a Decisions expert today and schedule your own, personal demo.

Cecelia Troyan
Cecelia Troyan is a content strategist and writer at Decisions. She is passionate about accessible digital content and communication.

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