{"id":16367,"date":"2022-02-08T13:33:00","date_gmt":"2022-02-08T08:03:00","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=16367"},"modified":"2023-11-15T13:54:32","modified_gmt":"2023-11-15T08:24:32","slug":"bad-data-solving-enterprises-biggest-problem-with-ai","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/","title":{"rendered":"Bad Data: Solving Enterprises\u2019 Biggest Problem With AI"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a148acda6d13\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a148acda6d13\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#what-is-bad-data\" title=\"What Is Bad Data?\">What Is Bad Data?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#why-should-this-matter-to-organizations-like-yours\" title=\"Why Should This Matter To Organizations Like Yours?\">Why Should This Matter To Organizations Like Yours?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#heres-why-businesses-should-fix-their-data\" title=\"Here\u2019s Why Businesses Should Fix Their Data:\">Here\u2019s Why Businesses Should Fix Their Data:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#1-improved-productivity\" title=\"1.&nbsp;Improved Productivity&nbsp;\">1.&nbsp;Improved Productivity&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#2-enhanced-customer-experience\" title=\"2.&nbsp;Enhanced Customer Experience\">2.&nbsp;Enhanced Customer Experience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#3-superior-decision-making\" title=\"3.&nbsp;Superior Decision Making\">3.&nbsp;Superior Decision Making<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#4-more-efficient-processes\" title=\"4.&nbsp;More Efficient Processes\">4.&nbsp;More Efficient Processes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.vue.ai\/blog\/enterprise-ai\/bad-data-solving-enterprises-biggest-problem-with-ai\/#the-vueai-intervention\" title=\"The Vue.ai Intervention\">The Vue.ai Intervention<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>The rate of AI adoption has skyrocketed in the recent past. Organizations are turning to AI to improve operational agility and efficiency, deliver superior customer experiences, inform decision-making, and ultimately secure a competitive edge over the others. Today, over <a href=\"https:\/\/www.spiceworks.com\/tech\/artificial-intelligence\/news\/74-companies-have-either-adopted-or-are-exploring-ai-over-the-year-ibm-study\/\">74%<\/a> of companies are currently exploring or deploying AI in their businesses. However, one of the biggest challenges that stand in the way of realizing the full impact of their AI investments is inefficient data management and bad data.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-is-bad-data\"><\/span><strong>What Is Bad Data?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bad data is essentially inaccurate information. These could be incomplete, inconsistent, or unstructured records. It also includes everything from missing data, duplicate data, and wrong information to non-conforming entries. With the volume of data exponentially growing every day, the amount of unstructured data is also growing at unprecedented rates.&nbsp;<strong>Today,<\/strong>&nbsp;<strong>over <a href=\"https:\/\/blog.box.com\/90-your-data-unstructured-and-its-full-untapped-value\">90%<\/a> of the world\u2019s data is unstructured and inaccessible for business operations.&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-should-this-matter-to-organizations-like-yours\"><\/span><strong>Why Should This Matter To Org<\/strong>anizations Like Yours?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.gartner.com\/smarterwithgartner\/how-to-improve-your-data-quality\" target=\"_blank\" rel=\"noreferrer noopener\">Every year, poor data quality costs organizations an average of $12.9 million.&nbsp;<\/a>&nbsp;<\/strong>Apart from the immediate impact it has on revenue, poor quality data increases the complexity of data ecosystems. It also leads to poor decision-making in the long term.<\/p>\n\n\n\n<p><em>\u201cData quality is directly linked to the quality of decision-making. Good quality data provides better leads, a better understanding of customers, and better customer relationships. Data quality is a competitive advantage that D&amp;A leaders need to improve upon continuously.\u201d&nbsp; &#8211; Melody Chien, Senior Director Analyst, Gartner.<\/em><\/p>\n\n\n\n<p>With the majority of enterprise data being either inaccurate or unavailable, organizations are failing to deliver on their data-backed promises.&nbsp;<strong><a href=\"https:\/\/www.forbes.com\/sites\/rkulkarni\/2019\/02\/07\/big-data-goes-big\/\" target=\"_blank\" rel=\"noreferrer noopener\">95% of businesses cite the need to manage unstructured data as a problem for their business.<\/a><\/strong>&nbsp;In this article, we will explore how AI can help organizations with their management.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-1024x576.jpeg\" alt=\"Enterpise data clean-up and organisation\" class=\"wp-image-16368\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-1024x576.jpeg 1024w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-300x169.jpeg 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-768x432.jpeg 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-1536x864.jpeg 1536w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100-150x84.jpeg 150w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/option-1-data-100.jpeg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"heres-why-businesses-should-fix-their-data\"><\/span><strong>Here\u2019s Why Businesses Should Fix Their Data<\/strong><strong>:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With AI, businesses can not only clean and organize their data but ensure appropriate data management as well. The benefits of which are multi-fold.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1-improved-productivity\"><\/span>1.&nbsp;<strong>Improved Productivity&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Organizations spend 80% of their time looking for data and only 20% of the time utilizing it.<\/em><\/strong><\/p>\n\n\n\n<p>Bad data slows down an organization and its pipelines. Businesses collect over 75,000 data points for a single customer. Up to 30% of this data becomes inaccurate every year. As a result,&nbsp;<strong>data science teams spend hours on time-consuming legacy processes and manually execute mundane tasks such as looking, cleaning, normalizing, and organizing data.&nbsp;<\/strong>This is time that could be better spent on extracting clear insights that could determine critical business decisions.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2-enhanced-customer-experience\"><\/span>2.&nbsp;<strong>Enhanced Customer Experience<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>78% of organizations say that the data they collect helps them increase customer acquisitions and lead conversions.<\/em><\/strong><\/p>\n\n\n\n<p>Today, consumer data typically comes from so many sources that it is often siloed, inconsistent, and lacks a single source of truth. As a result, insights drawn from these disparate datasets are inaccurate as well.<br><strong>By consolidating transactional and behavioral signals acrossvarious channels and standardizing them in formats that are compatible with internal workflows,&nbsp;<\/strong>businesses can&nbsp;<strong>feed actionable insights to downstream processes<\/strong>&nbsp;such as prediction, personalization, and targeting and deliver stellar experiences that keep their customers coming back for more.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3-superior-decision-making\"><\/span>3.&nbsp;<strong>Superior Decision Making<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Data-driven companies are 23X&nbsp; more likely to acquire customers and 6X more likely to retain them.<\/em><\/strong><\/p>\n\n\n\n<p>The adage \u201c<em>garbage in, garbage out<\/em>\u201d holds especially true when it comes to AI. With good data, business leaders can stop shooting in the dark and work with precision. They can draw inferences and predict demand for products and services based on historical data as well as identify trends, create accurate forecasts from past patterns and situations, and devise data-backed strategies to figure out the optimal solution to a situation.&nbsp;<strong>Businesses can also leverage these insights to make informed decisions, efficiently meet demand, optimize operations and maximize profitability.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4-more-efficient-processes\"><\/span>4.&nbsp;<strong>More Efficient Processes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Fortune 1000 companies stand to gain $65 million in additional income with even a 10% increase in data visibility.<\/em><\/strong><\/p>\n\n\n\n<p><strong>With the right data, businesses can uncover inefficiencies, optimize operations for profitability and even cut down on unnecessary spending.&nbsp;<\/strong>For instance, most businesses have fixed guidelines around how content, text, images, audio, or video, should appear on their platforms. As a result, they invest a significant amount of time, money, and resources to ensure that all content onboarded onto their platforms adheres to their internal guidelines. With AI, businesses can moderate content at scale and ensure that the submitted content meets preset criteria, thus reducing the cost associated with manual moderation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-vueai-intervention\"><\/span>The Vue.ai Intervention<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>At Vue.ai, we understand that an organization\u2019s AI strategy is only as good as the data they work with.&nbsp;<\/strong>As a result, we\u2019ve developed an intelligent system to extract, enrich, organize, and manage enterprise data and transform it into a strategic asset.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/Copy-of-Visualize-Your-Data-Blox.ai-1-1024x576.gif\" alt=\"Data organisation process\" class=\"wp-image-16369\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/Copy-of-Visualize-Your-Data-Blox.ai-1-1024x576.gif 1024w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/Copy-of-Visualize-Your-Data-Blox.ai-1-300x169.gif 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/Copy-of-Visualize-Your-Data-Blox.ai-1-768x432.gif 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/11\/Copy-of-Visualize-Your-Data-Blox.ai-1-150x84.gif 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Raw data consisting of images, numerical, structured, and unstructured text is enriched with attributes to build rich metadata and structured data catalogs. This is done using a&nbsp;<strong>variety of AI-enabled APIs that can detect, recognize, and extract data<\/strong>&nbsp;across all incoming media sources such as text, image, audio.<\/p>\n\n\n\n<p>The structured data will be labeled according to standard or custom taxonomy that is relevant to your segment, business, and use case. In fact,our tool gives enterprise users complete control over their data by enabling them to visually label or classify data points based on their&nbsp;custom&nbsp;attributes on an&nbsp;<a href=\"https:\/\/getblox.ai\/platform\/xblox\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>intuitive, no-code, fully customizable data organization platform.<\/strong><\/a><\/p>\n\n\n\n<p>The labeled data is then classified into normalized data structures that various teams across the organization can use to build and maintain AI models that solve for their KPIs.<\/p>\n\n\n\n<p><strong>We fix the ugly parts of enterprise data<\/strong>&nbsp;by breaking down silos, bringing the data together, converting raw data into meaningful attributes, and organizing it into structured formats so that your teams can seamlessly integrate it into their systems and uncover data-backed insights that drive competitive value in the long term.<\/p>\n\n\n\n<p><strong>Use your data to build a&nbsp;strategic&nbsp;moat around your business so that you can focus on scale and growth.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> The rate of AI adoption has skyrocketed in the recent past. Organizations are turning to AI to improve operational agility and efficiency, deliver superior customer experiences, inform decision-making, and ultimately secure a competitive edge over the others. Today, over 74% of companies are currently exploring or deploying AI in their businesses. However, one of the  &#8230;<\/p>\n","protected":false},"author":23,"featured_media":16368,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1495],"tags":[1520,1517,1524,1441,1518,1525],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bad Data: Solving Enterprises\u2019 Biggest Problem With AI<\/title>\n<meta name=\"description\" content=\"Every year, bad data quality costs businesses an average of $12.9 million. 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