AI-driven text mining, a relatively new business analytics tool, allows users to unlock troves of information contained in documents and make them searchable by content and metadata. The ability to analyze documents requires a number of intricate steps. First, optical character recognition must be used to convert a document image into machine-readable text. The text must then be converted to a format in which it can be analyzed. Finally, information must be extracted from the documents. This case takes students through some of the theory behind and examples of text analysis.
This case is a companion to Evisort: An AI-Powered Start-up Uses Text Mining to Become Google for Contracts (Case ID: 190201A).