Modern day businesses handle and process homongenous amounts of data, which can be gathered either in-house or from external sources. With the advent of internet, web, and mobile devices the main challenge of the decade is to manage this huge resource of unstructured or raw data, which is getting generated every moment at a very fast pace. Unstructured data streams rapidly and constantly from different sources and is heterogeneous and variable in format. Unstructured data comprise of all data flowing in from customer interactions on websites, marketing applications running on websites, social networks, e-commerce sites, blogs, and responses from surveys and feedback. This data can be dug into and used to uncover customer consumption patterns, product and brand preferences, and other information which queries and reports can’t effectively reveal. So even with an investment of time and money, it is necessary to store and harness this huge volume of data efficiently. This has given rise to the importance of data warehousing and data mining.