What is text analytics?

Text analysis is about deriving high-quality structured data from unstructured text. Another name for text analytics is text mining. A good reason for using text analytics might be to extract additional data about customers from unstructured data sources to enrich customer master data, to produce new customer insight or to determine sentiment about products and services. Entity extraction,the parsing and extracting of entities from raw text, is a key part of text analytics. In many cases, entity extraction can be turned into automated entity recognition, in which text is parsed and well-understood entities are automatically selected from the text by the software.