Text analytics, also known as text mining, is the process of deriving high-quality information from unstructured or semi-structured data sources. In this context, the term “information” refers to all forms of structured and unstructured data, including text, images, audio, and video.
The goal of text analytics is to turn unstructured or semi-structured data into actionable insights that can be used to improve business decisions. To do this, text analytics relies on a variety of techniques, including Natural Language Processing (NLP), machine learning, and statistical methods.
There are many different ways to define the term “information.” In the context of text analytics, we can think of information as data that has been processed and organized in a way that makes it meaningful and useful. This includes both structured and unstructured data, as well as text, images, audio, and video.
Information vs Data
Data is raw, unprocessed facts and figures. When data is processed, organized, structured or presented in a given context so as to make it meaningful or useful, it is called information. Information provides context for data.
So while all information is data, not all data is information. The key difference is that information has been processed in some way to be made meaningful and useful.
In the text analytics industry, the term “information” is used to refer to all forms of structured and unstructured data, including text, images, audio, and video. This is different from how the term is used in other industries, where it may refer only to structured data.
To understand how the term “information” is used in the text analytics industry, it is helpful to first understand how it is used in other industries. In many cases, the term “information” refers only to structured data. This includes data that has been organized in a specific way, such as by rows and columns in a database.
In the text analytics industry, however, the term “information” includes both structured and unstructured data. This is because text analytics relies heavily on Natural Language Processing (NLP), which is a branch of artificial intelligence that deals with understanding human language. NLP is particularly well-suited for processing unstructured data, such as text.
The term “information” can also be used to refer to knowledge that has been derived from data. This includes insights, conclusions, and recommendations that have been generated from data. In the text analytics industry, the term “information” is often used to refer to both data and knowledge.