Identity Resolution Applications 4 Ways They are Beneficial

Entity matching

Identity resolution comes down to accurately and correctly identifying your potential customer. This is done no matter what device they are using and no matter where they are. Once your customer has properly been identified you can then make sure that advertising is appropriate for them. No longer is there a one size fits all when it comes to customer relations and fortunately identity resolution applications can help. Identity matching helps target specific customers with specific targeted needs. The current value of such applications is at an estimated 3 billion dollars and is expected to rise to as much as 6 billion by the year 2020.

Text mining is a popular process which is comprised of 4 steps. These steps include retrieving information, language processing, extracting information and then mining data. There are three specific ways that text mining helps businesses. Read below to see the benefits of text mining or using text mining software.

Text mining can provide more accurate insights. It does this across more of a broader range of different sources. It is estimated that less that one percent of data ever gets analyzed. Text mining could help seal this gap and remove that 99%.

Text mining also helps to provide specific services for it’s users. It helps to provide accurate risk and threat detection among users. Along with this detection it is also helpful for identifying compliance of issues too.

Text mining also helps to improve customer engagement. This process is done with natural language processing. This process helps offer early insights into what customers could be thinking. This can help target needs to better suit customers wants.

Identity resolution applications are beneficial in a variety of ways. Seeing how they can help should help you understand how using these applications can improve customer relations. So much new information has been created over the past few years, that it is sometimes hard to keep up with it all and not get lost in the quick changes. With identity resolution applications, technology is getting one step closer to keeping up with the changing times.

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