In: Computer Science
TEXT MINING CASE STUDY
1. What challenges does the increase in unstructured data present for businesses?
2. How does text-mining improve decision-making?
3. What kinds of companies are most likely to benefit from text mining software? Explain your answer.
4. In what ways could text mining potentially lead to the erosion of personal information privacy? Explain.
Q1. What challenges does the increase in unstructured
data present for businesses?
Answer:--------
Text mining enables many companies to respond to their customers
satisfaction surveys, and web mining enables many web search
engines to facilitate collecting data that people need to be more
profitable. Now, a huge amount of unstructured data is distributed
by these systems. A manager is able to use this system and make an
accurate decision for unprecedented cases. information Business
intelligence tools deal primarily with data that have been
structured in databases and files. However, unstructured data,
mostly the kind
of data we generate in e-mails, phone conversations,
blog postings, online customer surveys, and tweets are all valuable
for finding patterns and trends that will help employees make
better business decisions.
Text mining tools are now available to help businesses analyze
these data. These tools are able to extract key elements from large
unstructured data sets, discover patterns and relationships, and
summarize the information. Businesses might turn to text mining to
analyze transcripts of calls to customer service centers to
identify major service and repair issues.
Q2. How does text-mining improve
decision-making?
Answer:--------
Text mining system enables airlines to rapidly extract customer
sentiments, preferences, and requests for example, when the
airlines suffered from unprecedented levels of customer discontent
in the wake of a February ice storm in 2007. Managers were
concerned about their reputation degrading but there had been no
means to glean their responses without text mining. Fortunately,
they could make decisions and figure out a lot of measures to
respond to customers’ discontent. The reason is that text mining
facilitates gleaning from many unstructured text data and compiles
them. This data wouldn’t be analyzed by decision making systems
like MIS and DSS because text mining is not structured data. Text
mining is indispensable for decision making of unstructured data.
text mining improve in decition making by Offering unique insights
into customer behaviour and attitudes.
Q3. What kinds of companies are most likely to benefit
from text mining software?Explain your answer.
Answer:--------
In the past, only government and large companies tend to use text
mining system but now, text mining system can be geared towards
small businesses. Restaurants, hotels, supermarkets etc. are
applying the system and able to make a decision as well as earn
profits. Every company is able to use both structured data and
unstructured data. Above all, internet search engines like Google
and Yahoo are doing good business because they used AdWord and
AdSence which efficient advertising system is kind of web
mining.
Q4. In what ways could text mining potentially lead to the
erosion of personal information privacy? Explain.
Answer:--------
Nowadays, companies tend to use and manage personal information for
their business. Mobile phone companies manages huge amount of
privacy data as structured data. However sometimes hacker invade
this data and abuse it.
According to text mining, some companies use personal information
as unstructured data which is gathered from survey or
questionnaires. This case is different from structured data because
unstructured and mining data is not provided by customer. There is
a risk to occur some unprecedented accidents.