Having a lot of data can be pretty hard to deal with on its own. Many companies find that they have so much text and data that going through it all can be overwhelming and not the most streamlined process. That is where entity resolution software comes in handy.
The first question that many people ask is what is entity resolution software? Any company or organization that deals at all with big data can use this. Basically, it sifts though all of the complicated data sets that have already been collected and organizes it. It is then neatly compiled into a way where it can be more easily used and understood. This is how many large and small companies are able to make connections with their data and then use that to work through their business plan in a more thoughtful and strategic manner.
To put all of that more simply and succinctly, this kind of software makes a lot of what businesses do today possible. With all of the data that comes in — most of it is unstructured data and unstructured text — and compiling in so that it can be accessed and harnessed, companies are put in a better position to learn more about their customer base, the products they sell and how they can grow their bottom line. That is something all businesses want to do.
To better understand entity resolution software, it is important to have an understanding of what entity resolution is. When a keyword is used, it can be referencing a number of things. It can be a person, a company, an idea, an item, location or some kind of process. This keyword is what is called the “entity.” If something is randomly mentioned at various times and in different conversations or communications, the software will find that and link those references. While they may appear random, they typically are not and after the links begin to be made, the entity resolution software can look for patterns. That is where the real value added impact of this kind of software comes into play. A good example of this might be when a large company finds that the same process is mentioned in a variety of place such as logins, inputs and records.
For some people, that is still on the abstract concept. Here is another for instance for you. A person may be in different records but in a different format. In the real world, you may know that Jane Susan Smith is the same person as Jane Smith or Jane S. Smith but many computer systems may not see that right away. The right entity resolution software will see them all as the same person and will link them automatically.
The implications of using this kind of system may also be hard to grasp. A good entity resolution software package can look at an amount of data that is staggering to think about. When you add in the “internet of things” to the mix, you can see that the amount of data that is collected every day would be overwhelming without the use of the right kind of software. We use our devices to help us find information but more and more, they are collecting it on us. If your company relies on any data you take in, the ability to go through and analyze and process all of this incoming data can be the difference of a decent quarter and an amazing one for you and your business. In the future, as more and more data comes in from a wider variety of sources, your business will not be able to function without a great entity resolution software package.
In baseball, they often say “be where the ball is.” In business today, the saying is often “be where the client (or customer is.” With better data analysis, you can see how your customers and clients are using your products are services to be there with what they need when they need it. This is the real benefit of better software applications. You want to know your customers and clients better than they know themselves.
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