The Value and Benefits of Text Mining

JIASC has released The Value and Benefits of Text Mining.

Here's an excerpt:

Vast amounts of new information and data are generated everyday through economic, academic and social activities. This sea of data, predicted to increase at a rate of 40% p.a., has significant potential economic and societal value. Techniques such as text and data mining and analytics are required to exploit this potential. . . .

To date there has been no systematic analysis of the value and benefits of text mining to UK further and higher education (UKFHE), nor of the additional value and benefits that might result from the exceptions to copyright proposed by Hargreaves. JISC thus commissioned this analysis of 'The Value and Benefits of Text Mining to UK Further and Higher Education'.

We have explored the costs, benefits, barriers and risks associated with text mining within UKFHE research using the approach to welfare economics laid out in the UK Treasury best practice guidelines for evaluation [2]. We gathered our evidence from consultations with key stakeholders and a set of case studies.

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