A quicker alternative to DayZ2P by Mikero and DayZ Tools Extract process. This application will show progress while unpacking the game data.
https://github.com/wrdg/DayZExtract/tree/master
Extraction video
If you use the installer, you will have two shortcuts to DayZExtract in your start menu items.
DayZExtract - extracts all content
DayZExtract Minimal - extracts only text files from the game (good for diff checking)
Following steps are required to enable Unicode support for spinners and progress bars.
Run intl.cpl.
Click the Administrative tab
Click the Change system locale button.
Check the "Use Unicode UTF-8 for worldwide language support" checkbox.
Reboot. (optional)