The Question of Dark Data
Data is the most valuable resource of any enterprise, but there is an issue that companies are facing every day – most of the data collected by businesses simply go unused.
Businesses collect more data than they can handle. Any unused or incomplete data is called dark data. Dark data is being collected, processed, and stored, but doesn’t generate any value as businesses lack tools to properly analyze, monetize, or successfully use it in any other meaningful way. It only adds extra storage costs.
On average, 55% percent of all data collected by a company is dark data. Businesses either don’t know how to utilize it or not even sure that they have it. The main reason is the lack of a tool to capture or analyze the data.
Another common issue is that the data collected is incomplete. There might be important customer information about a transaction, but it’s missing location or other metadata, which may be located elsewhere or never captured at all.
What’s the point of collecting data if you can’t put it to work? If you are a business owner who has or had the same problem, share your experience!