Why to use Laces for Structuring Data

While structured data has formats that are easier for machines and humans to access, up to 80% of the world’s data is, according to the International Data Cooperation (IDC), still unstructured and captured in plain documents, like text files and spreadsheets.

The ability to interpret vast amounts of information and make it meaningful and, therefore, useful is an advantage in this digital age. However, it requires creating order from chaos with tools, techniques, and manual work that helps a business process unstructured data.

In simple terms, most of the data we rely on in business is not captured in a format that our systems and processes can easily use.

We are witnessing a shift from the information age, where the primary goal was to access data, to the age of intelligence, where processing ‘meaningful’ data and understanding the logic within the data is more important. After all, professionals must find the correct data faster, manage it more easily, and be confident about its consistency.

When companies have to deal with manual, document-based processes and are limited to only the already available data, the challenge of becoming data-driven is harder.

The Importance of Structuring Data

In essence, then, turning data into usable information, also described as organized and findable enterprise knowledge, relies on understanding all of its dimensions. Only by structuring it can we extract the intelligence we need from it.

Typically, in traditional databases, no preset option exists to interpret unstructured data like documents. Therein lies the main challenge – because of its format, size, and nature, unstructured data is difficult to treat in a standardized way.

And because it is not uniform and consistent, most of the software applications we use can’t help us understand the contents of the text files and spreadsheets that store it.

This lack of control has implications across the value chain, and when people store data in different places, managing versions and avoiding inconsistencies and redundancies is even harder.

By structuring data, it becomes possible to organize large volumes of data and easily convert them to extract the intelligence you need. That is why Laces is the leading solution for professionals to manage structured data in the cloud.

Laces for Structured Data Management

For those who still manage information primarily as unstructured data, such as documents, Laces offers key features, like cloud storage, annotation and extraction, ontology editors, semantic graphs, knowledge graphs, and Artificial Intelligence to help transform documents and other unstructured data into structured information.

In fact, the key benefit of the Laces solution is its effortless organization of data using automation to help you capture, share, and apply information with anyone you want.

Laces ensures your information is reusable across multiple applications by structuring it to reduce errors, increase consistency, and promote interoperability. All this is done in the cloud for secure, scalable, and cost-effective delivery.

Who Can Benefit From Laces?

So, access to our toolkit allows you to transform your documents into structured data. Laces is an invaluable tool for professionals who want to convert data for more intelligent use with less effort.

It offers a more scalable and flexible solution for those already working with databases. Unlike most solutions, which rely on the IT department, Laces allows the business to make changes or additions.

Laces does for structured data or databases, what Dropbox does for documents. It gives companies the power to manage and distribute data so it can be used and shared whenever and by whoever you want.

Does your organization want to become truly data-driven? To learn how, book a demo today.