Do You Express Strong Opinions In Your Social Media Posts?
It should come as no surprise that companies across the globe want to mine any information that they can about the goods and services that they offer. From Twitter accounts to Snapchat stories, the companies that offer their products to consumers are looking at increasing the number of ways that they can connect with their potential clients.
Tracking feelings of their consumers through the use of named entity recognition tools is one way that companies are trying to match the message they send with the latest trends. Finding out, for instance, that the wild popularity of watching young animals play does not seem to be a fascination that is fading, can direct a marketing team to include some of these furry favorites in their public relations and advertising messages. Knowing that their is increasing frustration across party lines with the current lack of respect for teachers and education, as another example, might encourage a company to use inspirational teachers and stories of educational successes in their marketing plans.
Although the way to find out what consumers must like and dislike can still be accomplished in focus groups and other older techniques, a growing number of marketing and advertising teams are using named entity recognition tools to get a better read of what the latest trends are. Matching key emotional words, for instance, with topics associated with their products can help companies get a real time read for what customers are thinking.
Consider some of these statistics about the named entity recognition tools that are being used in social media data analysis and the purposes that these entity analytics serve:
- Text mining can bridge the gap to the missing 99% of data analytics that is never used. The fact that the International Data Corporation (IDC) estimates that less than 1% of data is ever analyzed is an indicator that there is far more information available than most companies are using.
- identity resolution software and name matching software can help your company create customized marketing graphics that will capture the attention of many online users.
- Predictions indicate that by the year 2018 there will be 2.67 billion social media users worldwide. This will be an increase from the 2.34 billion in the year 2016.
- Information retrieval, natural language processing, information extraction, and data mining are the four steps in the text mining process.
- Entity resolution refers to the practice of finding and linking mentions of the same entity across and within various data sets. Duplication, record linkage, and canonicalization are the three primary tasks involved in entity resolution.