Natural Language Processing: Need and Importance

Natural language processing (NLP) is a field of computer science, artificial intelligence, and computational linguistics concerned with the interactions between computers and human (natural) languages and, in particular, concerned with programming computers to fruitfully process large natural language corpora.

With the growing demand of capturing the customer voice in order to use these insights for providing better customer experience, the enterprises are looking for solutions which will enhance human to machine interaction. Natural Language Processing (NLP) techniques provide various solutions for automation of various business operations. The rise in big data has also demanded the high tech NLP techniques to process human language on real-time basis. Additionally, with the enormous rise in amount of social media content, the web is getting flooded with huge volumes of unstructured data. In order to capture important information out of this huge sea of data, organizations are looking for better and efficient NLP solutions.

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There are many leading vendors that are providing natural language processing solutions across all industrial verticals. Besides the huge product portfolio of NLP solution vendors, there are basically three broad types of NLP solutions, namely rule-based NLP, statistical/machine learning NLP, and hybrid NLP. The prominent players in this market are 3M, Apple, Dolbey Systems, Google, HP, IBM Corporation, Microsoft Corporation, NetBase Solutions, SAS Institute, and Verint Systems.

Natural Language Processing (NLP) solutions have become very significant for many business operations. It works to provide human to machine interaction by analyzing the spoken and written languages and comprehending the pattern accordingly. The advent of smartphones and the leverage of big data have given rise to huge amount of data. Maintaining the business database manually has become outdated. In order to extract important data from these text corpus business organization are looking for the solutions which will provide a real-time access to the important information and the voice of customers in order to enhance their business operations. NLP techniques enable the computer to perform various tasks. A few of these applications include machine translation, information extraction, report generation, question answering among various others.

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