With businesses operating round the clock, a large amount of data gets generated. This data can be efficiently converted into useful knowledge that can take your business to a higher level. This book introduces you to the concept of taxonomies and how they are used to simplify and understand the text. You'll explore how to use taxonomies for textual analytics. It begins with a quick history of taxonomies and their earliest usage. You’ll learn about the different types of taxonomies (recursive, networked, hierarchical, and so on). You'll also learn about ontologies and understand how the ontology becomes a bridge between the worlds of technology and business and commerce. The later chapters of the book show how to find the taxonomies that you need for successful textual analytics, update your taxonomies to include the constantly-changing language, and extract meaningful information from raw text using different tools, such as textual disambiguation, document fracturing, and so on. By the end of this book, you’ll be able to utilize the various aspects of taxonomies for efficient textual analysis.