What is entity recognition?

Entity recognition is a technique for spotting named entities in transaction text. It allows us to link a (possibly abbreviated) name of a company, place or organization to an external record, such as a Wikipedia entry, companies database or geo-location, or some other data source.

Benefits of entity recognition.

Being able to identify counter-parties in transactions, adds valuable context is to data. This includes organizations and places, as well as dates and times. This additional context can be used in various ways, from adding links to external sources (links to a website, or logo), as well as inferring.