Relevant information is always available. It’s simply how you find it in the first place.
With the Internet more powerful than it’s ever been it’s imperative you make sure nothing flies under your radar. Customizeable extraction software is a tool your business should use to pierce the seemingly mysterious veil of endless information and get the data it needs to move forward with confidence. Big data analysis is a huge field and one that only gets bigger by the day. Entity extraction tools, their functions and their financial benefits will be explored below so you can proceed throughout the year with your eyes on the prize.
Did You Know?
We can only comprehend so much. With the Internet swarming with new content on a daily basis, you need to find ways of creating bite-sized pieces of knowledge for simplicity’s sake. The IDC found the digital universe will exceed 40 ZB by the time 2020 arrives. That means nearly 2 MB of new information created by every person every second of every single day. It’s not possible for any one person to keep track of so many articles, posts, comments, links and photos. It is, however, very possible for text mining software to do the work for you.
The Growth Of The Text Analytic Market
Data is all around you. How do you separate the useful tidbits from the noise? Customizeable extraction changes depending on the needs of your brand and the data it needs to address each customer need. The value of the text analytic market is at an impressive $3 billion and is expected to double in just the next three to four years. The four steps in the text mining process include retrieving information, processing natural language, extracting information and mining for data.
Social Media’s Influence On Your Business
Social media data analysis is a natural result of the influx of new information and the changing needs of your customers. More people rely on social media not just to communicate with friends and deliver news, but to reach out to brands and see where their money is going. Semantic extraction (among other forms of text mining software) works by finding specific keywords, phrases and posts that can narrow down the time you put into learning about customer interest. A business that generates content and maintains a social media account should be using entity extraction tools to stay ahead of the pack.
Increasing Safety In Security And Identification-Based Industries
Customizeable extraction software can even be used to keep people safer. Text analytics are now being used to strengthen border security in a number of ways, from identifying dangers near the border and preventing potential issues as soon as possible. A major benefit to sentiment analysis is its ability to provide accurate predictions for the future. Entity resolution works by both finding and linking mentions of the same entity across different data sets. This record linkage saves time, money and can even save lives.
Moving Forward With Identity Resolution And Text Mining Software
The IDC (short for International Data Corporation) has found just 1% of data is analyzed. There’s a world of potential at your fingertips just waiting to be exposed and text mining software can bridge the gap. Businesses stand to improve their customer engagement by pinpointing what customers want to see from your brand, naturally processing language and making links that would take weeks (even months) to do by hand. Future insights can also help you plan more accurately, creating a positive cycle that only gets better in the long-term. When you’re not sure where to invest next, smart geotagging and customizeable extraction software can literally provide you the answer.