It is no surprise that digital data is a gold mine for those who know how to harness its power. The fact that Facebook has 1.97 billion monthly active users worldwide is an indicator that it is a platform that can produce enormous amounts of data every second of every day. Likewise, the fact that Twitter has 319 million worldwide monthly active users means that it is also a goldmine of information for those who know how to use it. The development of the analytical software that can retrieve, process, and extract needed data is a process that is known as text mining. From entity resolution software to various other kinds of software, the text mining process is an invaluable resource in today’s digital data age.
The text mining process has four basic steps:
- Information retrieval.
- Natural language processing.
- Information extraction.
- Data mining.
Text mining software goes through texts and looks through keywords for the purpose of direct advertising. If, for instance you are texting your friends about the New Kids on the Block single that is about to drop, you might see sponsored ads promoting that song and similar products the next time that you log in to your social media account.
Sentiment analysis software has been widely used in political campaigns lately. This software configuration allows candidates quickly determine which messages are generating the strongest messages with potential voters. Following the sentiments of the most popular messages, the thought is, a candidate can more quickly connect with a campaign stop audience of future town hall setting.
Entity resolution software specifically looks for a user’s name, in all of its versions, and then takes this information to make sure that you see products, scenes, or other items that include your name. Seeing an unusual name like Penelope written in the sand on a private beach with an empty hammock is intended to be an invitation to entice you to purchase any number of products, from personalized vacation photo albums to airline tickets to your favorite dream destination.
Social media data analysis as explained as long ago in a 2014 New York Times article, Americans say that they want privacy, but they simply cannot quit sharing. It should come as no surprise then that an entire industry is built around trying to use that shared information as a marketing tool. A marketing tool that can be sold and resold to any number of buyers who are looking to market to very specific audiences.
Identity resolution software aims to provide security, while at the same time protecting, and not sacrificing privacy. From fingerprint recognition to various other kinds of advanced technologies, identity resolution software is used for everything from employee access to bank identification.
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