Knowledge graphs, also known as a semantic networks, are an important and highly practical technology used by businesses to drive intelligence into data. Knowledge graphs help to resolve a wide range of today’s data-related business challenges, such as data silos, and unstructured data management, by illustrating relationships between data and entities in an accessible format.
Knowledge graph technology is gaining rapid traction from enterprises because it offers a way to contextualise huge amounts of data in a similar way to the human mind. Many of us are already using it in day-to–day life, perhaps unknowingly, with Siri, Google Assistant and Alexa all being examples of widely-used knowledge graphs.
Any organisation with a large amount of data stands to benefit from using knowledge graphs. Here’s how knowledge graph technology can be applied to extract comprehensive understanding and insights from data and to enable better and faster decision making.
Breaking Data Silos with Knowledge Graph Technology
Data is typically stored in what is commonly referred to as a ‘data silo’, defined by TechTarget as “a repository of data that’s controlled by one department or business unit and isolated from the rest of an organisation”. Knowledge graphs make it possible to combine disparate silos of data, providing an overview of all business data – not only departmentally but across the entire organisation.
By facilitating knowledge sharing and making it accessible to everyone, businesses are able to operate with full transparency and to enjoy faster, better, and more trusted insights.
Integrating Structured and Unstructured Data
Much of the information stored in today’s enterprise data ecosystems comes in the form of unstructured data which, despite being the most valuable and insightful type of data, can be challenging for businesses to decipher. Businesses are therefore turning to knowledge graphs to translate their data into usable information.
By integrating multiple unstructured and semi-structured sources of data, knowledge graph technology enriches an organisation’s data with meaning and allows for multiple interpretations, helping business leaders to derive insights with more efficiency.
Visualise Your Data with A Knowledge Graph
Knowledge graph technology is primarily a visualization tool which benefits decision makers in several ways:
- Data visualisation makes it possible for decision makers to interpret vast quantities of data in a clear and cohesive way
- To recognise emerging trends and respond quickly
- To convey the meaning behind the data in the simplest way
- To easily compose data analysis reports
- To dramatically improve the efficiency and speed of decision-making processes