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Natural Language Processing Helps In Faster Data Conversions And Data AnalysisBy Expert Author: Michel Smith
In both these cases we need to understand the concept of analytics and insights.As we have a lot of data and it is also collected from various sources, hence we need to analyze it in a more minute form so that we can use it. There is another factor as data is collected from various sources hence, it is stored in different formats and we have to bring it in a common pattern to make it in readable form.
Analytics and insights means that we proper analyses of the data and use proper logic on it so that we can use it for future decision making. It works on the artificial intelligence mechanism wherein both offline and online analytics is performed. This mechanism is mostly used when there is large amount of data and it is coming from multiple sources.
This process involves millions of records and calculations which cannot be done manually therefore proper computer programs are designed to perform this task termed as Artificial Intelligence. In this mechanismmachines are designed in replacement of human beings wherein the logic would be written in such amanner that it would appear a human is working on the data, but in real terms it is a system working. In artificial intelligence we have the concept of natural language processing (NLP) which gives the machines the ability to read and understand languages like human beings. This process has been coded in such a way that if we have a newspaper and plain English or any language has been written on it then it would pick up all the data and text from it and read and understand it. This behavior is same as humans.
In natural language processing a large set of data is input and also set of rules has been coded. The data would pass through the rules and also convert it into logical information. The NLP comes into picture as data is written in some standard language, so it pick up all that and sort the relevant details and remove the junk data. This process works in a systematic manner. There are many companies who offer these services to many big financial and retails companies. They would help them in taking decisions and deciding future investments for them.
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