Introduction to Text Mining
The mining process of text analytics to derive high quality information from text is called text mining. The information is collected by forming patterns or trends from statistic methods. Due to this mining process, users can save costs for operations and recognize the data mysteries. The unstructured data is converted into useful information with the help of technologies such as NLP or any other AI technologies. It deals only with the text and the patterns of text. It can be used in customer care service, cybercrime prevention and detection and for business intelligence.
What is Text Mining?
- This process has become more practical because of the big data. The data scientists and other users use big data and deep learning that can analyze massive sets of unstructured data.
- After identifying the facts, relationships and also assertions, all these facts are extracted and analysis, to analyze first turned into structured data, visualization with the help of HTML tables, mind maps, charts etc, integration with structured data in databases or warehouses, and further classify using machine learning (ML) systems.
- The sources of mining and analyzing could be corporate documents, customer emails, survey comments, call center logs, social network posts, medical records and other sources of text-based data which helps a business to find potentially valuable business insights.
- Text Mining and Natural Language Processing (NLP) are Artificial Intelligence (AI) technologies that allow users to rapidly transform the key content in text documents into quantitative, actionable insights.
How does Text Mining make working so easy?
It works same as to data mining, but with a focus on text instead of more structured forms of data. The first step in this process is to organize the data in terms of both quantitative and qualitative analysis that’s why to use natural language processing (NLP) technology.
It work includes information retrieval or identification (collect the data from all the sources for analysis), apply text analytics (statistical methods or natural language processing to part of speech tagging), named entity recognition (identify named text features the process name as categorizing), disambiguation (clustering), document clustering ( to identify sets of similar text documents), identify noun and other terms that refer to the same object, then find the relationship and fact among entities and other information in text, then perform sentiment analysis and quantitative text analysis and then create the analytic model that help to generate business strategies and operational actions.
What can you do with Text Mining?
The best example of the text mining is sentiment analysis that can track customer review or sentiment about a restaurant, company and so on also known as opinion mining, in this sentiment analysis collects text from online reviews or social networks and other data sources and perform the NLP to identify positive or negative feelings of customers. Theses information farther used to solve the negative point and improve customer satisfaction and also can help in marketing and other areas of improvements.
Another common uses include Security applications, Biomedical applications for clinical studies and precision medicine analyzing descriptions of medical symptoms to aid in diagnoses, marketing like analytical customer relationship management, add targeting, screening job candidates based on the wording in their resumes, Scientific literature mining for publisher to search the data on index retrieval, blocking spam emails, classifying website content, identifying insurance claims that may be fraudulent, and examining corporate documents as part of electronic discovery processes.
It helps in fraud detection for the insurance company, risk management, scientific analysis, customers behavior and so on, which helps the company in their work improvement.
It help companies detect issues and then resolve them before they become a big problem which affects the company. The customer reviews and communications can help to improve the customer experience by identifying require features for customer and improvement by all which increase the sale and then increase revenue and profit of the company.
Even text mining in healthcare enables to identify disease and diagnose disease.
To perform the text mining people should have skills of data analysis, should be good in statistics, Big data processing frameworks, Database knowledge, Machine Learning or Deep Learning Algorithm, Natural Language Processing and apart from this good in the programming language.
It is a fast-growing field as the big data field is growing so the scope is very promising in the future as the amount of Text Data is increasing exponentially day by day. Social media platforms are generating a lot of text data which can be mined to get real insights about different domains.
The Right Audience for learning these Technologies
The target audience for learning this technologies are professionals who want to identify the valuable insights the huge amount of unstructured data for the companies for different purposes like increase the sales and profits of the company, fraud detection for the insurance company as well in the field of health and even scientists to perform the scientific analysis and all.
- It is also known as text data mining is the process of extracts and analyzes data from large amounts of unstructured text data.
- It work includes information retrieval or identification, apply text analytics, named entity recognition, disambiguation, document clustering, identify noun and other terms that refer to the same object, then find the relationship and fact among entities and other information in text, then perform sentiment analysis and quantitative text analysis and then create the analytic model that help to generate business strategies and operational actions.
- It helps in fraud detection, risk management, scientific analysis, customers behavior, healthcare and so on.
- To perform the mining people should have skills of data analysis, statistics, big data processing frameworks, database knowledge, Machine Learning or Deep Learning Algorithm, Natural Language Processing and apart from this good in the programming langue.
- It is a fast-growing field as the big data field is growing so the scope for this is very promising in the future.
This has been a guide to What is Text Mining?. Here we discussed the working, skill required, scope, and advantages of Text Mining. You can also go through our other suggested articles to learn more –