Powered by AI, Higitus can help businesses extract meaning from their mounds of unstructured data
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Spotted: Many businesses are sitting on vast troves of information that they can’t easily get at. This is unstructured data, which consists of things like emails, call centre transcripts, online reviews of products, chatbot conversations and social media mentions. As much as 80 per cent of the data held by companies is in the form of unstructured data. If this information could be analysed, it could provide valuable insights into customer analytics, marketing intelligence and much more.
Up to now, there has been a lack of tools for analysing unstructured data. However, with the advent of artificial intelligence, it has become possible to extract information and report business insights automatically from the volumes of unstructured data that is created daily. Now, an Italian company has developed an AI tool that uses a single framework to extract value from both unstructured and structured data.
Higitus (from a song in the 1963 Disney film, Sword in the Stone, meaning ‘I want your attention, everything’) is an award-winning AI platform developed by Sogetel. It uses Natural Language Processing to identify and analyse hidden relationships between different sources, then extracts information relevant to business processes.
The company claims that Higitus can minimise the risks related to human error, reduce response times in customer care, curtail costs, detect fraud and error and simplify the management of back-office processes – all through analysing unstructured data. The platform can also process non-text documents, using optical character recognition, and integration with systems such as DMS and CRM.
Companies are just now beginning to realise the value of unstructured data – and the value of developing ways to extract and use it. At Springwise, we have seen a surge of interest in this area, including the development of data extraction tools such as facial recognition technology and a system that allows people to extract their personal data from company platforms.