Text processing is the process of analyzing and manipulating textual information. This includes extracting smaller bits of information from text (aka text extraction), assign values or tags depending on its content (aka text classification), or performing calculations that depend on the textual information.
Since we naturally communicate in words, not numbers, companies receive a lot of raw text data via emails, chat conversations, social media, and other channels. This unstructured data is filled with insights and opinions about different topics, products, and services, but companies first need to organize, sort, and measure textual data to get access to this valuable information. One way to process text data is manually, which has been the most popular method – up until now.
We’re still in the early days of text processing, but there have been some nice improvements over the past decade.