Dark data is a set of data that companies commonly collect, may process and store, but then do not use for any specific purpose.
It is data that is unstructured and not only has no use, but is also not visible to the organization.
Examples are abundant. Recordings of calls with customers, security camera footage, geolocation data or social media posts about products are just some of them.
In total, they make up a significant critical mass of information: according to the consulting firm Gartner, 54% of a company’s data falls into this category. IDC goes even further, stating that up to 90% of big data is dark data.
Dark data as a cost driver
Keeping all this data unused is not free. Storing and securing it often generates more costs (and sometimes greater risks) than benefits.
Why are companies missing the valuable opportunity to take advantage of this source of information? How can we reverse this trend and capitalize on it to reduce costs, improve business efficiency or gain competitive advantage?
As an obstacle, and according to data collected by Nubiral, 85% of companies identify that they do not have a tool to capture and store this data. Another 39% mention that it is too much volume and that they do not have an analytics team large enough to analyze it.
How to overcome these challenges?
Today we have the help of different tools that allow us to store and process this information. When thinking about a data solution, different architecture alternatives pop up.
Dark data also refers to unstructured data (such as recordings, videos or logs). Therefore, it is ideal to start by building a data lake that allows us to store them in a single centralized repository of information.
Based on this, there are different tools that will allow us, through the analysis of this data, to obtain insights that add value to the business. The range is wide and starts with no-code or low-code tools, such as Excel or Tableau. Of course, there are also those that require programming knowledge, such as SQL or Python. The important thing is to find the most suitable one for each team.
Use cases linked to dark data
The processing of images from security cameras located at the door of commercial premises could indicate the number of people entering or how many leave with a bag of our brand.
Cameras housed in the checkout area could help us quantify the average time customers wait to be served, information that could be used to improve the user experience.
Analysis of our customers’ tweets, on the other hand, serves as an indicator of whether they are happy with our products or not. They also allow us to get to know consumers better in order to customize promotions based on their profiles.
There are many and diverse examples.
The important thing, in all cases, is first to recognize the dark data in our business. Then, to store all this information. And finally, the step that takes us to the next level: generating value from it.
Our experts at Nubiral are waiting for your contact to help you unlock the power of your data. Schedule your meeting!
By Javier Minhondo, Nubiral’s Business Solution Architect