What is Named Entity Recognition (NER)?
Named Entity Recognition (NER) is the process of identifying and categorizing named entities in a given text. Examples of categories are organizations, locations, time, names, money, and rate. Other terms that are synonymous to NER are:
- Entity Identification
- Entity Extraction
- Entity Chunking
NER is part of information extraction (IE) or the process of automatically getting structured information from an unstructured document. With NER, the entity is the specific piece of information extracted. An example of NER is when the following unannotated text gets annotated:
Bill Gates sold $35.8 billion worth of Microsoft stock and gave it to the Bill and Melinda Gates Foundation.
NER creates the following annotated text from the sentence above:
[Bill Gates]Person sold [$35.8 billion]Money worth of Microsoft Stock and gave it to the [Bill and Melinda Gates Foundation]Organization.