Digging for Data Gold
April 1, 2014
Tech Radar has an article that suggests an idea we have never heard before: “How Text Mining Can Help Your Business Dig Gold.” Be mindful that was a sarcastic comment. It is already common knowledge that text mining is advantageous tool to learn about customers, products, new innovations, market trends, and other patterns. One of big data’s main scopes is capturing that information from an organization’s data. The article explains how much data is created in a single minute from text with some interesting facts (2.46 million Facebook posts, wow!).
It suggests understanding the type of knowledge you wish to capture and finding software with a user-friendly dashboard. It ends on this note:
“In summary, you need to listen to what the world is trying to tell you, and the premier technology for doing so is “text mining.” But, you can lean on others to help you use this daunting technology to extract the right conversations and meanings for you.”
The entire article is an overview of what text mining can do and how it is beneficial. It does not go further than basic explanations or how to mine the gold in the data mine. That will require further reading. We suggest a follow up article that explains how text mining can also lead to fool’s gold.
Whitney Grace, April 01, 2014
Sponsored by ArnoldIT.com, developer of Augmentext
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