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Business Data Science: Combining Machine Learning and Economics to Optimize, Automate, and Accelerate Business Decisions by Matt Taddy

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Text as Data

The modern business environment generates vast quantities of raw unstructured text. As the costs of storage drop and as more conversations and records move to digital platforms, we accumulate massive corpora that track communications, including customer conversations, product descriptions or reviews, news, comments, blogs, and tweets. For business decision-makers, this provides an opportunity to dive into customer relationships and understand marketplaces. The information in text is a rich complement to the more structured variables contained in a traditional transaction or customer database.

Social scientists have also woken up ...

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