Dark data refers to raw data or information buried in text, tables, and figures that organizations acquire and store during business operations but never use to derive insights or make decisions. This includes structured data stored in databases as well as unanalyzed information from conversations with team members, customers, stakeholders, and investors.

Why is dark data a business problem?

Dark data represents a significant loss of opportunity because it contains undiscovered, essential insights that could drive business decisions. Organizations unable to analyze relevant data miss out on potential productivity gains. IBM estimated that dark data would account for 93% of all data generated by 2020, meaning most organizational data goes unused for decision-making.

How much can companies gain from analyzing dark data?

According to the International Digital Corporation, organizations that can analyze all relevant data and deliver actionable information could achieve an additional USD 430 billion in productivity gains over their peers by 2020. This demonstrates the significant financial impact of converting dark data into usable insights.

What types of dark data come from communication?

Some of the most crucial dark data comes from conversations with team members, prospective customers, customers, stakeholders, and investors. Human communication is a cornerstone of business success, which is why capturing, extracting insights from, and managing conversational data is increasingly important.

What is the growth rate of the dark analytics market?

The dark analytics market is anticipated to register a compound annual growth rate (CAGR) of 21.7% during the forecast period from 2020 to 2025. This rapid growth reflects increasing organizational recognition of the value in analyzing previously unused data.

Dark Data: Unlocking Hidden Insights

Dark data is something I am thinking about a lot especially as we transfer to remote work. Dark data is generally is referred to as raw data or information buried in the text, tables, figures that organizations acquire in various business operations and store it but, is unused to derive insights and for decision making in business.

However, I believe some of the most crucial dark data comes from the conversations we have with ourselves, our team members, prospective customers, customers, stakeholders, investors and more. Human communication is a cornerstone of success and that’s why we’ve been working hard to build systems to better capture, extract insights from, and manage it.

A few notes from some of the links I’ve included in the article:

The dark analytics market is anticipated to register a CAGR 21.7% of over during the forecast period (2020 – 2025).
This un-analyzed data contains undiscovered, essential insights, and represents a loss of opportunity. IBM estimates that dark data will account for 93% of all data generated by 2020.
The International Digital Corporation predicts that organizations that can analyze all relevant data and deliver actionable information could achieve an additional USD 430 billion in productivity gains over their peers by 2020.

What You Need To Know About Dark Data
https://www.forbes.com/sites/tomtaulli/2019/10/27/what-you-need-to-know-about-dark-data/#20fdf42d2c79

What is the importance of Dark Data in Big Data world?
https://www.kdnuggets.com/2015/11/importance-dark-data-big-data-world.html

What Your Data Isn’t Telling You: Dark Data Presents Problems And Opportunities For Big Businesses
https://www.forbes.com/sites/marymeehan/2019/06/04/what-your-data-isnt-telling-you-dark-data-presents-problems-and-opportunities-for-big-businesses/#7be2816484e8

Dark Analytics Market Research Report: Market size, Industry outlook, Market Forecast, Demand Analysis,Market Share, Market Report 2018-2023
https://www.industryarc.com/Report/17942/dark-analytics-market.html

Dark Analytics Market Size, Trends, Analysis, Forecast (2020 – 2025)
https://www.mordorintelligence.com/industry-reports/dark-analytics-market

This is part of my live-learning work. Please forgive any inaccuracies or incomplete thoughts. I will be back 😊

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