Did you know that implementing text classification can help your business? If you didn’t and you want to know how you should read this post!
Text Classification is the process of categorizing text into one or more different classes to organize, structure, and filter into any parameter. You can use Text classification, for instance, in legal documents, medical studies and files, or even something as straightforward as product reviews. Data is more crucial than ever, and businesses are paying millions to gain as many insights as they can.
There is a critical need for innovative approaches to using text/document data because they are far more prevalent than other types of data. The value of data can be greatly increased by organizing it such that it is understandable in ways that take into account its inherent unstructuredness and abundance.
Brands may use the power of text classification to enhance their consumer analytics, marketing initiatives, and ultimately their impact within their market if they have the correct tools.
These are some of the benefits you can get by using a text classifier:
Real-Time Analysis
The use of conventional market research techniques is extinct. That’s because they merely produce useful insights when you need them too slowly. Manual analysis is time-consuming and virtually impossible when it comes to social listening.
In urgent circumstances like a PR crisis, it is frequently necessary to quickly gain understanding of consumer perception. You can track brand mentions and keywords in real-time using text classification machine learning, which enables your decision-makers to act rapidly.
Scalability
No amount of data is too much for artificial intelligence to sort through. Big or small brands can quickly acquire and extract insights from a wide range of data sources. Traditional research techniques are incomparably slower and less scalable than modern text categorization systems. When brand mentions soar, your AI won’t panic since you can still access quick results.
Consistency
AI doesn’t become distracted, tired, or bored like human researchers do when classifying data. And perhaps most significantly, it lacks bias. That implies that your text analysis tools consistently use the same NLP algorithms on your data.
However, as we just established, not all AI is made equal, so you need be extremely picky about the tools you choose for your market research. They ought to process data in an open and unquestionably accurate manner.
If you’re trying to find a tool to perform text classification easily you should try Text Classification IAB Taxonomy.
Our pick for the best tool for text classification is Text Classification IAB Taxonomy
Text Classification IAB Taxonomy is the best IAB Taxonomy content classifier. Not only it’s really accurate but with its classification, you’ll be able to organize your data easily.
Texts are categorized using the IAB Taxonomy classifier into one of 360 subjects. The primary category (such as sports, business, or science) and subcategories make up its two levels of depth (soccer, agriculture or physics). It is based on the Taxonomy of the IAB Quality Assurance Guidelines.
What are the most common uses cases of this API?
This API is meant to assist businesses that have a lot of data that has to be categorized. By categorizing the text, you can collect it. This is also ideal for marketing agencies.
Also published on Medium.