The number of online consumers using social media has increased exponentially over the past few years. Twitter, alone, has active users worldwide numbering 319 million. Because of this, social media data analysis can do wonders for understanding your audience as a business in order to gain momentum in the social media marketing industry.
However, while identity resolution software can assist your company in this field by connecting separate data sources in order to create probable identity matches across a myriad of databases, additional software may be necessary for effective analysis.
Link extraction and event extraction can be used to further understanding regarding group affiliations, familial relationships, and participants in mergers or acquisitions. Here are three ways in which link extraction and event extraction can assist your business’ use of social media data analysis:
- Semantic Links
Based on linguistic hints in text, link extraction can extract links between two entities in such a way that is beyond co-occurrence. Entity extraction simply extracts a series of persons, places, or objects that are likely to be related across a large spans of collected data. Link extraction, on the other hand, offers an advanced coreference resolution that allows for extraction that is rich in information via the identification of the large sets of semantic links enabled by the software.
- Enhanced Information
Entity analytics and name matching software can provide your company with a look into the connections between your products and your audience. Additionally, text analytics software provides your business with the ability to determine your audience’s opinions regarding your business and product without attempting to gauge a response via survey.
Yet these types of analytical software and extraction can only give your business so much information that can used for marketing opportunities. Event extraction provides additionally rich information regarding the locations, times, and participants of particular events.
This can be especially useful when your business is looking for a new angle in which to approach the marketing of your products to your audience. For example, if your audience is Suburban, middle-class mothers your business may be able to utilize social media data analysis alongside event extraction to determine when your audience is particularly active, what they do in their free time, and what your audience does together as a collective group.
- Coreference Resolution
While mentioned briefly during the first point, link extraction and event extraction offer additional coreference resolution as a means of gaining particularly rich information from the extracted data.
Coreference resolution works by solving the identities of co-referenced entities that have been extracted whether they are pronouns or name aliases. For instance, coreference resolution allows for software to determine that “the Prime Minister of England” and “Theresa May” are one in the same person.
Link extraction and event extraction can provide your business with beneficial information that simple entity analytics and name matching are less likely to provide.