Given the vast amount of data that exists within the digital universe, there’s a pressing need to analyze it. The International Data Corporation predicts that by 2020, the digital universe will contain over 40 zettabytes of data. While it does seem like a daunting task to analyze what amounts to 1.7 megabytes of new data per second for every person, there are solutions.
According to the International Data Corporation’s estimates, less than one percent of the data that exists has been analyzed. In order to analyze the remainder, which amounts to roughly 99%, text mining is a solution. When businesses use text mining software, it can be of benefit to them in three significant ways.
When it comes to documents and other vital sources of information, text mining can provide more accurate insights a