Text Analysis for business: why you should consider it!
Collecting millions of documents without having the right approach to extract what’s relevant can lead to a waste of time and resources.
Some think they can handle this amount of data only with human capabilities, while others believe that they can delegate all of their requirements to a pure Machine Learning approach. Instead, a good compromise can be found in the middle.
The text analysis based on Cogito Technology takes advantage of both worlds.
The text analysis based on Cogito Technology takes advantage of both worlds, applying human-like capabilities for comprehension to the power of Machine Learning. From this perfect combination of artificial intelligence (AI) and semantic rules, a semantic text analysis software based on Cogito can read any kind of document with the accuracy of human comprehension thanks to its NLP (natural language processing) capabilities, but at the speed of modern technologies.
This can help companies extract any kind of relevant information from their documents (e-mails, web pages, posts, Social Media Feeds, and much more) since potentially any entity can be tagged.
Extracting entities and concepts from information is an inherent and powerful capability of Expert System technology. Cogito has also mastered the unique way to comprehend the context in which entities—people, places, organizations, companies, etc.—appear, recognizing patterns, and highlighting relationships among them. Let’s look at an example of how this could be useful.
A Chief Legal Officer, among other duties, is responsible for helping the organization minimize legal risks and providing board members the information they need to face new regulatory issues, such as the European Union’s new General Data Protection Regulation (GDPR). Compliance with GDPR requires that your suppliers are compliant, and naturally your contracts would stipulate this requirement. But how can you be sure that they will always be compliant? Furthermore, how could you know a supplier is acting in a way that could damage your company?
Thanks to the power of text analysis based on Cogito, every piece of relevant information extracted will be analyzed, highlighting the relationships among people, companies, and facts, providing the right insight at the right time to support risk management and any other initiatives that depend on data. Having access to real time and accurate information can support your organization in making better decisions or countermeasures, faster, while helping reduce your exposure to sudden risks.