If you are a solutions architect or a securities advisor who is looking into adding or improving your organizations capabilities in the text or entity analytics area you are likely looking at the latest in identity resolution software options, as well as other kinds of semantic extraction software tools. In fact, solution architects, software engineers, systems engineers, project managers, and tech-leads are often looking at information that they can glean that will help them understand both customer and market perspectives. From semantic extraction software to identity resolution applications, a growing number of companies are working on making the most of the digital data that they have.
Interestingly enough, even though they could be doing much more data from the International Data Corporation (IDC) estimates that less than 1% of data is ever analyzed by most businesses. If businesses work with the best semantic analysis providers, however, the latest text mining can bridge the gap to the missing 99%.
Digital Data Can Help Your Company Understand Its Current and Potential Customers
Whether you are looking for a renewal quote or you are just beginning the process of making use of the digital data that is available to you, working with the right software sentiment analysis tools and providers can help you make the most of the digital data that is available to you. Consider some of these facts and figures about the industry that makes use of identity resolution data and other kinds of software sentiment analysis tools:
- Information retrieval is the first step in the text mining process.
- Natural language processing is the second step in the text mining process.
- Information extraction is the third step in the text mining process.
- Data mining is the fourth step in the text mining process.
- Producing an enormous amount of data every second, Facebook has 1.97 billion monthly active users worldwide.
- $3 billion is the current value of the text analytic market, and it is forecasted to reach almost $6 billion by the year 2020.
Even when the data is inconsistent, identity resolution software can help users determine when two or more different looking identities are actually describing the same person. Although it can be used by corporations analyzing customer data, or by governments conducting visa screenings, identity resolution software also has many other applications as well.