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Jan 18
Last Updated on 26 January 2018

How Text Analysis Benefits Our Society

Named entity extraction

Text analysis can be applied to a number of purposes. One such purpose is sentiment analysis for brand reputation, which can hugely benefit the profits of a company or business. But text analysis and text extraction have more purposes than just business analytics. Text analysis and link extraction software can also be used for increased border security.

When it comes to border security, text analysis software is beneficial for three main reasons. First, it allows the United States government to identify dangers not only at screening time but near the borders. Second, it identifies which potential dangers are in need of a follow up and which are able to be looked past. Finally, it allows the government and security forces to predict what future threats and dangers will occur at the borders. In these ways, we can use information to protect borders more completely and fully than ever before.

When it comes to businesses, sentiment analysis for brand reputation is the main thing in play when we talk about data mining. Sentiment analysis software can help come through information and look for the ways that people are discussing a specific brand, what their tone is about the brand, and if they are reviewing it negatively or positively. And there is more information out there on the internet than ever before – by 2020, it’s predicted that the digital universe will reach over 40 ZB. That means that for each person, 1.7 MB of data is being created every second. Social media data analysis hugely benefits from this rapid creation of information. On Facebook alone, almost 2 million users create new data and information every single month. Sentiment analysis for brand recognition can be hugely successful using social media platforms alone, not even accounting for all the other places on the internet that could provide useful information. In fact, there is SO MUCH information out there in the digital world that it is estimated that less than one percent of data is actually analysed.

Text analysis and data mining can be useful in a number of different ways. For businesses, sentiment analysis for brand reputation can help to determine how they are viewed in the world at large and how they can better project themselves to people in the future. For our country’s national security, text analysis can help the government and security forces to accurately identify threats and prevent them. No matter what the purpose, data mining can be an effective and important way of gathering digital information.

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