How to discover important trends with AI
Do you want to use new technologies with your company to work more efficiently and finally meet growing customer requirements? Until now, you have had to identify, evaluate and integrate new trends independently for your business units. This is not only time-consuming, but also cost-intensive. Researching new technology trends in particular is complex. This can change through the use of Artificial Intelligence.
Starting with keywords, AI processes can first gather information. Data mining and text mining are used to automatically search through data.
What is Data Mining?
Thanks to Data Mining, data can be analyzed and even huge amounts of data (such as Big Data) can be evaluated. Data mining uses algorithms from statistics and Artificial Intelligence methods to automatically find patterns, trends or correlations in data sets.
How do Data Mining and Text Mining differ?
Text Mining is a special form of Data Mining. Similar methods are used to analyze mainly unstructured text data rather than structured data. Thus, Text Mining can be used to extract core statements from texts, for example, without having to read the texts themselves.
Thanks to these two methods with which data is automatically searched, information sources can be identified. These are then assigned to specific technologies and subject areas with the help of Information Retreival.
Information Retreival: The Evaluation of Unstructured Data
Information Retrieval evaluates unstructured data, as search engines do with the Internet, for example.
But that’s not all: A final Sentiment Analysis not only recognizes the technological relevance of the assigned data, but can also evaluate the attitudes of certain groups of people toward technology in the subject context. Sentiment Analysis is a subfield of text mining. In the analysis, texts are evaluated with the aim of classifying statements in the texts as positive or negative.
This is how companies benefit from AI processes
Technology trends identified at an early stage lead to a competitive advantage for your company. Technological improvements to your market performance can differentiate you from your competitors and increase customer loyalty. Learn where AI can be used in product creation in our research report.
Want an example? Through improved sensor technology, based on technology trends identified by AI, you can increase the data quality of data collected in the field. In doing so, you don’t have to devote yourself to the complex task of identifying relevant sources and analyzing large databases. Artificial Intelligence and the AI Marketplace can help you do this.