Along with co-presenter Alex Hasha, Jaime spoke on “New Insights from ‘Big Legacy Data’: The Role of Text Analytics at Bundle.com.”
For decades, credit card transactions have generated mountains of data about consumer spending habits, but the data formats were designed for archiving and reporting rather than for data mining and pattern discovery. In particular, the merchant's name is embedded in a text field, which also contains other information, without any standard format.
Bundle.com is a new startup that is building a business on the extraction of value from this legacy data source. Text analytics are being used to robustly identify merchants in the dataset as a first crucial step in the extraction of powerful insights about consumer spending behavior.