![]() “Text Mining is a technique that boosts the research process and helps to test the queries.”įor analysis, I will be using R and R studio, a language and environment for statistical computing and graphics. Here, I will process with Tweets about Indian Premier League IPL 2020 by following the link here. This case study can be seen as an example of Social Media Analysis as mentioned above. Now, let us consider a case study for a better illustration of how actually text mining works and how to create word clouds using text mining, reasons one should use word clouds to present text data. aiming to a sharp reduction in the response time of the company. Companies are investing in text analytics software to enhance their overall customer experience by accessing the textual data from surveys, customer feedback, calls, etc. This analysis enables social media platforms to understand ‘what’s hot and what’s not’ for their target audience.Ĭustomer Care Services: Text mining techniques like Natural Language Processing (NLP), are getting increasing importance in the field of customer care. Also, text mining tools can efficiently analyze the number of posts, likes, and followers on social media, thereby allowing people to understand the reaction of netizens who are interacting with their brand and online content. These help to track and interpret the texts from news, blogs, emails, etc. Social Media Analysis: There are many text mining tools designed exclusively for analyzing the performance of social media platforms. By combining the outcomes of text analyses with relevant structured data these companies process claims swiftly as well as detects and prevents fraud more efficiently.īusiness Intelligence: Apart from providing profound insights into customer behavior and trends, text mining techniques also help companies to analyze the strengths and weaknesses of their rivals, thus, giving them a competitive advantage in the market. ![]() Since text mining tools and technologies can gather relevant information from thousands of text data sources and create links between the extracted insights, it allows companies to access the right information at the right moment and boost their abilities to mitigate potential risks.įraud Detection: Finance and Insurance companies mainly utilizes this opportunity. Risk Management: One of the primary causes of failure in the business sector is the lack of proper risk analysis. Here are a few most common text mining applications around us: Text Mining tools and techniques are rapidly penetrating industries right from academia and healthcare to businesses and social media platforms. Text Mining will also send an alert to the email used to remove the mails with such offending words or content. Such emails will automatically go to spam. One can plug in any vocabulary to use the terminology in their area of interest.įor example, Text Mining can be used to filter irrelevant e-mail using certain words or phrases.The text which is indexed using Text mining can be used in predictive analytics.Also, it helps to extract concepts from the text and present it in a more simple way.Text mining techniques used to analyze problems in different areas of business.Text Mining used to summarize the documents and helps to track opinions over time.Text mining can help in predictive analytics.Text Mining saves time and is efficient to analyze unstructured data which forms nearly 80% of the world’s data.
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