Named Entity Recognition (NER)
(also known as entity identification (EI) and entity extraction)
NER is the simplest and most reliable IE technology. NE systems identify all the names of people, places, organisations, dates, and amounts of money.
For example, a NER system producing MUC-style output might tag the sentence "Jim bought 300 shares of Acme Corp. in 2006".
NER systems have been created that use linguistic grammar-based techniques as well as statistical models. Hand-crafted grammar-based systems typically obtain better results, but at the cost of months of work by experienced linguists. Statistical NER systems typically require a large amount of manually annotated training data.