DENVER, Aug. 6, 2013 /PRNewswire/ — One of the hottest buzzwords in technology today is “big data.” Companies that learn how to leverage the massive amount of data that exists in the ether have an automatic advantage over their competitors. However, most companies don’t realize that 80% of data is unstructured and rarely utilized by businesses. Natural language processing software makes unstructured text meaningful and valuable for enterprises with big data initiatives. Today, AlchemyAPI released the first in a series of white papers explaining the benefits of text analysis and the reasons companies should use text analysis as part of their business strategy.
In the white paper titled, “Text Analysis: A Crucial Part of Enterprise Data Initiatives,” Data Scientist Joseph Turian, Ph.D., demystifies the process of text analysis and covers several topics in depth:
What is text analysis? There are 1.2 zettabytes (1.2 billion terabytes) of data on the internet alone. The problem is that much of this data is unstructured text that is not immediately understandable in the context of most data analysis formats. Text analysis extracts the information expressed in unstructured text and transforms it into a structured format. Popular natural language processing techniques like sentiment analysis, named entity extraction, and categorization all make text easier to analyze.
How text analysis can help your company. In order to ensure that their company is taking the right steps towards success, businesses are constantly monitoring and analyzing data in order to make a plan of action. Companies that use text analysis have access to actionable data to achieve a more accurate analysis, thus enabling better decision-making.
Applications of text analysis. As companies are discovering, the applications of big data are broad. Text analysis aids in that process. Bringing structure to unstructured data can help companies with market research, media monitoring, recommendation systems, and voice-of-the-customer initiatives.
AlchemyAPI’s white paper aims to help businesses better understand the process of text analysis and the benefits that it offers to companies who wish to improve their competitive advantage.
About AlchemyAPI, Inc. AlchemyAPI is the world’s most popular natural language processing service, providing critical data analysis capability to more than 32,000 developers across 36 countries and 6 continents. Used more than 3 billion times every month, AlchemyAPI aims to democratize artificial intelligence technology, providing advanced natural language understanding capabilities to a variety of industries world-wide.
Original Release: PR Newswire
Image: Courtesy AlchemyAPI