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Recently, text mining is receiving much attention. Several research groups around the world, as well as R&D departments of big companies, are doing research on text mining. e.g. IBM, Microsoft etc.
One of the largest text mining applications that exists is probably the classified ECHELON surveillance system.
Until recently websites mosty used text based lexical searches. Text mining will allow more "semantic" searches. e.g. Searching for 'car company' will yield the Toyota Company home page even if the page does not contain the words 'car company' explicitly.

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