Think of all the loosely-structured and semi-structured data swimming around in your organization’s documents – policy guidelines, standards, emails, presentation slides, SMS chats, written reports, and so on. All contain hidden nuggets, clues to what’s actually going on at the working level, deep in the trenches. In most reporting systems, these faint, early warning signals usually get filtered out. Detecting and amplifying those weak signals and seeing how they’re connected can alert decision-makers to problems in the very early stages. This greatly reduces organizational risk.
Text analytics ingests the documents, extracts the entities (the topics or concepts being discussed), and categorizes them. It then identifies the interrelationships and visually presents it all in a concept map called a knowledge graph. The best of these tools also give you access to the underlying ontology.
Tom Reamy’s book Deep Text is an excellent reference.