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Data exists in various formats, from online content to printed materials, and extracting valuable insights from it is essential. Data extraction is the process of retrieving data from one format to a more useful one for further processing. It's important to note that data extraction itself is distinct from any subsequent processing or analysis. In some cases, similar data sets may be extracted from different sources, necessitating a review to ensure consistency in formatting. The tutorial will also cover the different types of data sources, emphasizing that there are numerous ways in which data can be structured.