The majority of business data is unstructured. This includes text-based data such as emails, chat conversations, social media posts, customer support tickets, and more. In order to extract actionable insights from this data, it must be structured. This is where Text Classification comes in. Text classification is a Natural Language Processing (NLP) task that involves automatically analyzing textual data and arranging them into groups (e.g., a group of articles about politics and another group about sports). In this article, we will look at some methods for implementing text classification in Python.
Text classification is used in a wide range of applications from organizing short texts like tweets, headlines, and chatbot queries to structuring much larger documents such as longform product reviews, news articles, legal contracts, and even e-commerce transactions. One of the most popular uses of text classification is sentiment analysis, where a machine can read a piece of text and determine its opinion polarity (positive, negative, neutral). Companies use sentiment analyzers for a number of purposes including marketing, product development, customer support, and more. Organizing and categorizing large amounts of unstructured business data can be time-consuming and difficult to manage. That’s why automated text classification tools are so useful. They combine NLP and Machine Learning to structure business data quickly and easily.
These no-code text classification models can automate the work of manually sorting through your business data and help you find important insights that will drive company growth. For example, a company that has a large customer support team may spend a significant amount of time inputting new incoming messages into a queue and prioritizing them. Automated text classification can make this process easier by allowing the system to recognize keywords that indicate that a problem needs attention immediately and then route those messages to the right person or trigger automatic responses. This allows the team to work on more urgent problems first, prioritize customer feedback, and get ahead of the game when it comes to customer service. Another way businesses use text classification is to analyze NPS (Net Promoter Score) survey replies or product feedback and identify common themes in the results. This can provide valuable insight into what customers are most interested in, which is critical for creating a successful product. Automated text classification can also be used to track brand mentions in real-time and detect trends that could be impacting the business negatively or positively.
There are a variety of different algorithms for text classification, and the most suitable one will depend on your specific business needs. One of the most popular is the Naive Bayes algorithm, which is a simple classification model that calculates the probability that a document falls into a particular group based on its features. Another popular technique is the SVM (Support Vector Machine), which is an advanced machine learning architecture that uses multiple layers of predictive models to classify text data. There are also a number of deep learning models that perform extremely well for text classification, including Convolutional Neural Networks and Recurrent Neural Networks. However, these are often difficult to set up and require a substantial amount of engineering expertise. Fortunately, many no-code text classification software solutions make these models easy to integrate into your workflows and can eliminate the need for extensive coding knowledge.