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The numeric information one typically thinks of as “data” represents only the tip of the data iceberg. Anywhere from 70 percent to 85 percent of an organization’s available data is unstructured data – freeform text. It is captured from websites, call center records, online reviews, social media, research archives, clinical notes and more. Imagine what an organization could gain with the ability to automatically categorize that content, identify meaningful patterns in it and use it to enrich all forms of business analysis. This paper summarizes a webinar in the Applying Business Analytics series, where Denise Bedford of Kent State University and Fiona McNeill of SAS described the emerging science of text analytics and presented some real-world examples of text analytics in action.
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