The Digital Universe Will Double By 2020 Can Your Business Keep Up?
The Internet is a dynamic place. Data is fed to us every second of every day, countless people are attempting to make their voices heard and recent law changes are attempting to exert control over the digital space. When it comes to keeping your business ahead of the pack you need to be up-to-date on everything that goes on, even when it seems virtually impossible. Aspect based sentiment analysis software is a modern incarnation of an old issue — when you’d otherwise be trying to find a needle in a haystack advanced software can help narrow down your search, giving you the information you need in half the time.
From marketing to security protocol, aspect based sentiment analysis is soon going to be the difference between success and failure for businesses going forward.
With so much data pushed forth into the world every single second, you need experienced tools designed with the express purpose of filtering the noise from the useful. The past several years have seen an unprecedented amount of new data created, with the IDC (International Data Corporation) estimating the digital universe reaching over 40 ZB by the time 2020 arrives. How much data, exactly? As much as two MB of new information for every person for every second of every day. As you’ve likely feared yourself, Businesses are worried they won’t be able to keep up.
The text analytic market has, quite easily, responded to these new issues with aplomb. It’s reached $3 billion recently and is expected to double this number in 2020. Just like there’s more than one way to fish and more than one way to garden, there are a bevy of useful techniques that can be accessed to make the most out of a sea of data. Semantic extraction is a term used to describe filtering different emotions and thoughts on a certain topic. Text analytics uses specialized software to find relationships between words and phrases. Identity resolution software is indispensable for security-run establishments.
Entity resolution is unique in that it both finds and links mentions of the same entity across multiple data sets (which is vital if your business taps into local groups and social media). The three most notable tasks involved with entity resolution software are deduplication, record linkage and canonicalization. This can be combined with text mining to ensure you’re never in the dark when it comes to the success of your brand. Businesses can be helped in three significant ways with text analytics software — providing accurate risk and threat detection, offering a broader range of sources and offering insight into customer desires.
How does the text mining process work? The first step is information retrieval — this means just finding what you’re looking for without wasting countless hours reading and discarding. Natural language processing is the next step and is vital for maintaining accuracy among Internet slang, acronyms and typos. Information extraction is the third step, tied closely to the first, and the last step is data mining. All of this together results in smart geotagging solutions and social media data analysis that keeps businesses in touch with their future goals. These tools can even save lives.
Border security has made great strides with the aid of text analytics software. Through structured data mining and geotagging dangers near borders and through screening can be easily pinpointed, with potential dangers followed up far more easily than if officials had attempted to dig in the dark. Even future issues, new ones included, can be more accurately predicted. The International Data Corporation has estimated a mere 1% of data ever being analyzed. Aspect based sentiment analysis software bridges the gap and provides the missing 99%. With opinion mining and semantic links you could discover completely new things about your business’s potential.
The text analytic market is moving ahead at a breakneck pace to keep pace with the changes of the future. Keep up with aspect based sentiment analysis.
