Text Analytics

Series 1: A re-emerging data trend Background Information With some experts in the analytics industry forecasting revenues hitting $18.4 billion by 2024, it begs the question what is text analytics? Data mining can use traditional statistical and machine learning techniques to investigate and assess overlooked information that is hidden in the electronic text. In fact, over…Read more

How Text Analytics Works

Series 2: Text mining – how it works Background This week continues our second series of Text Analytics (TA). As previously stated, TA can be used as an invaluable source in interpreting text data in providing rich customer information that otherwise may go undetected via numerical data (structured) analysis. Several players in the industry have…Read more

Problems and Solutions of Text Analytics

 Series 3: The problems and the solution Today’s world contains mountains and mountains of data. In fact, analysts are stating that unstructured data will outgrow structured (numerical data) by a rate of 10%-50% per year.  Here is where text analytics (TA) come into play. Text Analytics can make use of the 80% of unstructured data…Read more

Social Media and Text Analytics

There is no doubt that the use of social media is ubiquitous in our society. Yet the implications of social media are enormous, with possibilities in financial services growing more each year. Industries will soon realize how text analysis can merge our social media driven society, and offer an unconventional and intuitive approach to the…Read more

What is Big Data?

Did you know there were 5 billion mobile phone users in 2010 that exchange messages and surf the internet? Also, that there are 30 billion pieces of information shared on facebook each month? Finally, how about 15 out of the 17 business sectors in the United States have more data per company than the entire…Read more

5 Things One Should Know About Hadoop

Big Data is a term used to categorize an excessive amount of aggregated data. But, how do Data Miners manage all of this data? Hadoop is one of the popular tools that data analysts are using to store and mine immense volumes of data. Here are 5 Things a Data Analyst should know about Hadoop:…Read more