In this digital era, businesses should be aware of the rising importance of data for their development. It’s essential to start by understanding the difference between unstructured data vs structured data, and how to leverage them.
Data is varied and can be found in a wide range of forms. Text and paragraphs in a PDF document are data, and the table of contents in an Excel file is also data. But which one is considered unstructured data and which is structured data? Although both are data, they differ in terms of format and the degree to which they can be processed, as you will see further below.
1. Data Format
Unstructured data does not have a clear format and lacks a specific structure. This includes text within images, PDFs, scanned documents, and other media files. In contrast, structured data is well-organized and formatted to machine standards. Examples of this type of data include tables, spreadsheets, JSON, and CSV files.
2. Data Searchability & Accessibility
Structured data is easier to access and edit than unstructured data. Making changes to unstructured data, such as PDFs, requires specialized tools and complex steps. Searching for specific information in unstructured documents is also like looking for a needle in a haystack. On the other hand, storing data in a structured database allows you to quickly find what you need.
3. Data Usability
Unstructured data comes in a mostly incompatible format with typical processing tools, making it difficult for computers to analyze. Thus, the data inside often needs to be extracted or converted using OCR into a more machine-friendly format. In comparison, structured data is already systematically organized into key-value pairs, which makes it easier for computers to process.
The real example of how structured data is utilized in business can be seen in various industries, such as accounting, where financial performance is analyzed using transaction recap in Excel spreadsheets. On the other hand, unstructured data can refer to customer feedback, often compiled in a PDF, which still requires multiple steps to extract the insights effectively.
Only 20% of the data available in most businesses is structured, leaving the remaining 80% unstructured and untapped. Do not miss the opportunity to unlock the potential of your data. Now is the time to leverage OCR to transform disorganized documents into fully usable datasets.
Fintelite OCR is designed to automatically extract value from a wide range of resources, opening the door for you to easily access and gain meaningful insights. It transforms your unstructured data from PDFs or scanned documents into structured formats. You can seamlessly export the extraction results into formats like XLS or JSON. Our AI-powered OCR adapts flexibly to different layouts without the need for additional training, facilitating you an all-in-one platform to process a wide range of documents. Book a demo to see how Fintelite OCR helps you extract data faster, or try it out yourself by signing up for a 30-day free trial account.