Free form text is estimated to make up 70% to 80% of a company’s data assets and is considered significantly underutilized from an analytical perspective. There are numerous sources for this growing pool of unstructured data such as customer email, call center notes, chat logs, satisfaction surveys or claim forms to name a few. Is your company leveraging all of its data assets?
Historically, it has been very difficult to analyze text records for trends or patterns due to the free-form nature of this data. Recent advances in text mining have helped to distill and expose their content. The key to realizing the business value of text mining isn’t found in the sophistication of the clustering algorithms, but rather in the way those clusters are combined with structured data and then presented to the business analyst. Text clustering involves the logical grouping of text records based on the similarity of important terms in the documents. While some insights will likely surface through the examination of the text clusters themselves, the most significant value will occur when the text clusters are analyzed in combination with related structured data. Important facts reflected in thousands or millions of documents can be analyze along with structured data elements such as time, location or products to turn new business insights into a sustainable competitive advantage.
Reid Karabush, President of Decision Systems will discuss and demonstrate how the use of unstructured data may be leveraged within a Microsoft Analysis cube by integrating unstructured data (text) with structured data.
Reid Karabush is President of Decision Systems Inc., based in Northbrook, IL. His expertise includes over twenty years specializing in the field of business performance management and analytics, and is recognized nationwide as an expert in these field. His experience includes architecting and designing systems for various organizations including ArcelorMittal, American Pharmaceutical Partners, APAC, AT&T, Bristol-Myers Squibb, Chamberlain Group, Corning Inc., Fleet Bank, GMR Marketing, HSBC Bank, IPEX, J.D. Power & Assoc. and The Major League Baseball Players Association.
Reid has published various articles related to business analytics and business performance management and has mentored and trained a number of software vendors including Hyperion, Pillar and Applix. His background includes working within the software product management groups of Comshare and Wang Laboratories, where he focused on multi-dimensional database, analytics, and executive information systems.