Natural Language Processing Can Improve Business Insights

The way we are making progress in computer technology, natural language processing is also becoming more natural to business. We are speaking a natural language in different electronic mediums. This processing is showing the inside feelings, emotions and the thought processes of the common users. Business people, based on these insights, can act and take actions to increase their business value.
Also read: Implement Real-Time Big Data Analytics Cautiously

What Is Natural Language Processing?

Natural language processing is also a branch of artificial intelligence. A human being can interact with a computer using natural human languages. The input can be taken in either written or the spoken form. To see it in practical form, humans must teach computers to use and understand the languages that they speak. This is one of the biggest challenge for NLP.
An example of such a situation is a phrase in which words can have more than one meaning. In the case of human beings, understanding the meaning depends on what the topic is and what makes sense within the context of the conversation. Therefore, the software must be programmed to understand the topic and the structure of valid and invalid statements. Machine learning is a major part of NLP. Artificial intelligence can analyze the speech patterns of a user by easily understanding the command given to it.

Features:

NLP can be used to simplify every interaction with computers with its many features.

• NLP has immense language processing capabilities.
• NLP can also do deep analysis. It makes it very important in the fields of business, medicine and science. Sentiment analysis helps the company in gaining insight feelings of the customers.
• NLP can be used for translating one language into another language easily, quickly and accurately.
• It also has data mining capabilities. It can be used to extract a named entity with the help of entity recognition.
• NLP can automatically summarize huge amounts of text.
• NLP can provide better documentation and improve the efficiency of the processes for documentation.
• NLP can be used to filter out the spam emails and keep only the useful parts.

All these features make NLP perfect for the business intelligence of a company.

Practical Examples:

World famous Paramount Pictures is using this system to know about the quality of their movies and to understand the feelings of their customers, investors and employees of the company. Intel and IBM are also doing the same with their employees.

Conclusion:

Companies are facing fierce competition amongst themselves to get the most out of customers and provide them with the best services possible. This competition will only increase in magnitude as new companies join the bandwagon.
Text analytics and natural language processing hold the key to unlocking the business value within these vast data assets. Such technologies will help companies gain an edge over competition easily.
Business intelligence can help the company gain insights on the behavior of the customers. It will further help the company offer the best professional services.