Text analysis and text mining software automatically “read” huge amounts of text in unstructured electronic documents, databases, and repositories. The software extracts relevant information specific to a user’s query or requirements and provides the results in any number of database or visual formats. Text mining software offers a wide variety of text analysis capabilities, including compiling, filtering, reasoning, data extraction, automatic database population, and automatic summarization and metadata creation. Text mining software can also be used for more advanced capabilities including entity extraction and sentiment analysis.
Text mining software can be combined with any other knowledge management system that requires the collection of data. The software is often used in conjunction with enterprise search, and external facing search engines. The software can also be used for marketing purposes when combined with a web crawling connector to gather data for the text mining engine. Text analysis is being used in all fields as it is estimated that over 80 percent of all data is stored in unstructured text.
Business value from text mining and text analysis arises from the software’s ability to navigate large unstructured information sources quickly and accurately. The software can automatically index new data as it comes into the system. Application areas include news, search, market research, competitive intelligence, and many types of due diligence. Business processes are quicker when data can be easily found, thus lowering the cost of innovation and change.
Iknow has deep expertise in all aspects of text mining from initial requirements gathering, to designing connectors to gather data, to integrating the software into search, to system customization and deployment. Iknow has experience in text mining projects of all sizes, from designing processes to choose the correct sentiment analysis system, to using text mining to enhance the enterprise search for large companies.
The text mining/text analysis product landscape is complex and includes the following products. Iknow can help you evaluate and select the right software product to help you achieve your business objectives.