Businesses these days have too much to take care of. This is where technology and artificial intelligence comes into play. Entity extraction or NER is a powerful means that helps teams gather data from unstructured text data. 

Many of you may be clueless about what an Entity extraction software can do to help your business grow. So, this article will be a quick introduction and guide to make you aware of NER. You’ll find answers to common questions that people have regarding entity extraction. 

What is NER or Named Entity Recognition?

By using named entity recognition, companies can analyze extensive unstructured data. It can extract names and segment them into different categories based on the initial text classification. The tools allow searching vast data like emails, tweets, customer reviews, queries, and others to gather valuable information. 

For example, 

‘Jack was traveling to Florida on 30th July when Jack met with a car accident.’

In this example, Jack is a ‘name entity’, Florida is a ‘location entity’, 30th July is a ‘data entity’, and a car accident is a ‘record entity’. 

Such information is valuable for government and state authorities to keep track of car accidents in a state and know the victim. 

How does the Entity extraction software work?

The name entity extraction process uses technology that works in two steps. In the first step, the tool picks up all the entities from the text, such as the name, location, date, incident, day, etc. Once the entity names are picked out, the next step is to put them in categories and prepare a structured report. The tool can create endless categories depending on the information you want to gather. Also, you teach machines to perform without putting in any manual labor. 

How does entity extraction benefit your company?

It reduces manual labor by sorting out data automatically

You can get through a large amount of data within minutes which would otherwise take hours to gather and organize information. Entity extraction software shortlists the most appropriate data and removes the rest to avoid unnecessary confusion and delays in preparing reports. 

It understands context and provides more vital data 

When you run ordinary keyword research on a document, you can find the matching keyword but lack in finding relevant context. For example, if you need specific data for car accidents in Florida, and your keyword is car accidents, the entity extraction software will pick up the different entity names from the text and give you relevant context specific to your requirement. 

It reduces your effort to overlook any data

When you make a manual effort to scroll through the information and gather data, there is a high possibility that you might overlook or skip some vital information. It is because you eventually get tired of staring and reading from the screen, so it is natural to skip a few relevant pieces of information. But the computer does not get tired, and it can quickly check multiple files without skipping any data. You won’t require rechecking the data and better decision-making confidence. 

So, do you think your business can gain some help by investing in an entity extraction solution? If yes, start searching for trusted software providers in the country and get a free trial to know how it works. You can finally compare the price, reviews, and performance of the software to make a wise decision.