Named entity recognition is an important area of research in machine learning and natural language processing (NLP), because it can be used to answer many real-world questions, such as:
Does a tweet contain the name of a person? Does the tweet also provide his/her current location?
Which companies were mentioned in a news article?
Were specified products mentioned in complaints or reviews?
To get a list of named entities, you provide a dataset as input that contains a text column. The Named Entity Recognition module will then identify three types of entities: people (PER), locations (LOC), and organizations (ORG).
The module also labels the sequences by where these words were found, so that you can use the terms in further analysis.
For further information, please see Microsoft's official documentation
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