Data Mining Yields Important Insights for Government and Businesses

    Written by admin on . Posted in Entity analytics, Text analytics software engine, Unstructured data extraction engine

    Identity matching

    In the age of big data, when there is a tremendous amount of digital information available, most of it goes unanalyzed. The development of data and text analytics makes it possible to screen large amounts of data, structured and unstructured, to improve decision making. Organizations and decision makers like solution architects, software and systems engineers and project managers and tech-leads can use big data analysis to improve their organizations capabilities. What is list matching, entity resolution and other other text analytics procedures used for? They have multiple applications in the business, financial and security worlds.

    What is data mining?
    The sheer volume of digital data in existence is staggering. It will be more than 40 ZB by 2020, according to the International Data Corporation or IDC. In fact, every second, about 1.7 MB of new data is created for every person. While this data could be used to gain valuable information for businesses, government agencies and researchers, most of it is never used. At present, only about 1% of all data available is analyzed, according to the International Data Corporation.
    Big data has been around for a while, but there?s been no good way to search and analyze it, until recently. New software can analyze both structured and unstructured data, yielding usable insights into a range of behaviors.

    What is text analytics?
    Text mining analyzes unstructured data In four stages: information retrieval, natural language processing, information extraction, and data mining. Text analytics can analyze unstructured data, such as Facebook posts, into analysis and measurement of customer opinions, product reviews, feedback, sentiment analysis, and entity extraction.
    Text analytics can be used by businesses to make decisions based on customer sentiment and opinions. Clearly, text analytics and other forms of data mining and analysis have a vast field of information to engage with. With software that can handle tasks like text analytics, entity extraction, sentiment analysis and identity resolution, big data become the basis for informed decision making.

    What is list matching?
    What is list matching software and what is it used for? List matching software can be used to standardize databases, marketing and mailing lists, spreadsheets, CRMs and more. It can be used to eliminate duplication and ensure accuracy of data. It?s also easy to use, and you don?t even need to be an IT whiz to use it.
    It is fast and accurate, and has a number of options for the user. It can be used by businesses and organizations to clean their data and eliminate duplication, resolve identities and more. Banks and financial institutions can use it for compliance screening of customers and employees.

    Data mining software has multiple applications in the worlds of government, business and research. What is list matching and text mining software used for? It allows for better decision making, informed by analysis of the vast amounts of digital data being produced daily.

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