How to take advantage of hidden data?

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Nowadays, it is not enough to simply collect and store information. To gain competitive advantages and position themselves as an alternative in the market, companies must take advantage of the full value of data.

This means making the most of the benefits they bring, using them as key assets to boost innovation, create satisfying customer experiences, improve decision-making and increase operational efficiency.

However, to maximize the value of data, companies must go beyond what meets the eye and unlock what is hidden within.

In this article, we invite you to discover the potential of 4 types of data hidden in the information that every company stores.

4 types of hidden data that add value and drive efficiency
Companies that recognize the value of their data and manage it effectively unlock new growth opportunities.

Maximizing the value of data involves honduras phone number lead gaining insights into operations, customer behavior, and market characteristics to make decisions that improve company efficiency. Companies can also leverage their data assets to develop new products and services, as well as identify new business opportunities.

Below, we review 4 types of data that are not visible to the naked eye, but contain enormous potential.

Unstructured data
Unstructured data—that is, information contained in text files, documents, emails, videos, images, etc.—is arguably the biggest treasure trove. In fact, it currently accounts for 80 to 90% of an organization’s information.

Despite its relevance, a study that ETR conducted for Qlik revealed that, although companies understood the potential value of obtaining information from this data, less than a third felt they were in a position to do so .

Therefore, organizations that are able to unlock the value of unstructured data have been able to take advantage of it, and are much better positioned than their competitors.

It is worth clarifying that generative artificial intelligence is currently providing new ways to take advantage of unstructured data and generate information from it.

Real-time data
Real-time data enables fast, informed decisions , instant responses to market changes, optimise operations, manage risks more effectively and deliver personalised customer experiences.

However, a good portion of organizations are unable to take full advantage of it.

The reasons for this phenomenon are diverse: complex implementation of real-time systems, high costs of infrastructure upgrades, difficulty in finding – and hiring – qualified talent, and data governance issues related to quality assurance and security in real-time environments.

External data
Although most organizations have made progress in leveraging their internal data, only a few are fully leveraging the power of external data sources.

External data consists of information generated and collected from sources outside the company's operations.

Companies that successfully integrate external data into their operations can obtain valuable information that complements internal data, gaining a broader perspective on markets, customers and current trends.

Through this integration, significant advantages can be achieved in growth, productivity and risk management.

However, leveraging external data presents several challenges, including fragmented and rapidly expanding data and the need to assess data quality , upgrade existing data infrastructure, and address concerns about record privacy.