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How Important is Data Extraction for an Organization?

How Important is Data Extraction for an Organization?

Data extraction is known to help businesses by giving them ways to access data that can be stored in a variety of formats. Through processes like data extraction, business enterprises can make use of data for various purposes like marketing, research, or even decision-making.

Right now, with technology at our disposal, there are several ways to extract data. For instance, it could be extracting a list of contacts from an email, extracting information from a webpage, extracting financial data from an accounting record, or extracting data from documents in a PDF format.

Generally, data extraction can be carried out both manually and through automation. Manual data extraction can be defined as a process in which the data is collected from the sources manually. Automated data extraction is a process in which data is collected from sources using software or some other automated means.

Importance of Data Extraction

Data extraction is very important because it can be used to derive information from any kind of text or document. This is useful, particularly for social media content or some other form of textual data that is shared on the internet. Many reasons outline its importance. Here are a few of them.

  • Extracting the information available from texts that comprise a lot of content and can be difficult to read in raw form.
  • Getting access to information from texts that are published on the internet in different formats like webpages, PDFs, word documents, and more.
  • Data extraction from texts that are published in languages that users cannot understand and need to translate into a native language.

Benefits of Data Extraction

There are several benefits of data extraction which is why it has become a crucial practice to follow for all organizations. Here are a few of these benefits.

Benefits of Data Extraction

Easy Data Access

One of the most important benefits of data extraction is its ability to access data stored in different formats and to make it convenient to review and analyze. More often than not, transformations are required in order to create data that can be stored in formats like PDFs and text files that are ready for analysis.

Improves Accuracy

Errors during data entry can put the entire process at risk as it could result in costly repercussions. It is vital to reduce human error by using software applications that extract data more accurately and reduce the risk of errors and mistakes during research.

Improves Productivity

Data extraction helps extract data automatically from various sources and export it into a database or spreadsheet. This is also beneficial when attempts are made to enter data in large proportions. Automated extraction is a top benefit of data extraction that can lead to higher productivity.

Enhances Customer Services

Another notable benefit of data extraction is that it enhances customer service by providing timely and accurate information that is used to resolve complaints and customer inquiries. The data extraction process also helps identify trends and issues that could affect customer satisfaction.

Helps Automate Processes

Automation can save a significant amount of time and resources that can later be used to improve other areas of a business. With automation, organizations can essentially transform their business processes into fully digital experiences.

Data Extraction with 91Social

As part of our data engineering services, 91Social is now rendering data extraction and reporting services. Here, our team will help you extract data from text files or documents and store them in a central location. Users can access this data easily and will not have to go through the task of scanning hundreds of documents.

To avail of our data engineering services, visit our website and reach out to us.

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