If you have been reading my articles for a while, you will know I have a passion for helping businesses to tell their story.
Let me tell you one of the most interesting and exciting business stories I have heard.
I recently worked with a small group of researchers, preparing them to deliver their pitch to seek investment.
In advance of our meeting up, each team provided me with a paragraph to help me, and others, understand their research and business opportunity.
Below is the paragraph I endeavoured to understand from one of the research projects.
“Today, knowledge graphs (KG) are quickly becoming an essential part of any sector dealing with data.
Despite the fact that the majority of industries view their databases as knowledge sources, many nevertheless struggle to make the most of unstructured data.
We intend to provide a tool to transform unstructured data into a semantic knowledge graph.
Industries need a technology to draw from vast quantities of unstructured organisational data to create interrogatable data structures and knowledge graphs that enable rapid generation and maintenance of chatbots, recommendation systems, analytics, and other applications”.
For me, not the most easily understood or engaging introduction to an exciting business opportunity, as I later came to understand.
Having worked with the teams over two sessions one week apart, here is the story that emerged.
A story for the ages.
Although most industries view their database as a knowledge source, many struggle to make the most of their unstructured data.
“Data is the new Oil.”
Clive Humby
Data is only an asset if readily accessible and available to add value to your business.
Here is the story created by Sampritha, a member of the research team, to explain how they can readily improve the quality of chatbots, enhancing both business and customer engagement.
We have all had the experience of engaging with chatbots on websites only to be generally disappointed and wishing to get back to talking to a real person.
Sampritha told this story with the images below to help us understand the problem.
The Problem:
You send your child to your bedroom to find and bring back your pink top.
Not Likely (Unstructured) = Chaotic Data
Very Likely = Organised Data (Structured)
A structure is required, whether a pink top or a piece of data needs to be found.
The Chatbot story is only one example of how structured data and connection between these data will provide opportunities for forward-looking organisations.
The Solution:
Businesses that wish to acquire the ability to intelligently interrogate their data need our solution, for example, to provide support online to their customers quickly and effectively, to query their system and get meaningful answers, may it be on risk assessment, business analytics or decision making.
The future is interrogatable data, and Sampritha’s team provide a solution to transform unstructured data into a semantic knowledge graph using Natural Language Processing (NLP) and thus help in extracting knowledge/insight from your data.
What we Do:
Industries need a technology to draw insights from vast quantities of unstructured organisational data to create interrogatable data structures and knowledge graphs that enable rapid generation and maintenance of chatbots, recommendation systems, analytics, and other applications.
The Ask:
Why not engage with us and explore the opportunities for your data?
P.S “Data is the new Oil.”
The successful oil companies long ago were the ones who were best at finding oil. Over the years, oil developed into many by-products; so will your data, when readily accessible.
I would like to thank Sampritha Manjunath and Paul Buitelaar of the University of Galway, whose research is behind this fascinating story, for their support in writing this article.
