The application of text mining in accounting

Abstract

By facilitating the derivation of knowledge and qualitative measures from textual data, text mining techniques have come into vogue in various domains and industries. Namely in ac-counting, text mining outputs can elucidate, complement, and validate the customary quantita-tive data. This study creates an up-to-date view of text mining applications in accounting practice. Through a critical review of text mining literature, insight is given into the stages of a typical text mining process, contemporary text mining techniques that have been named valuable in an ac-counting context, and the information that can be obtained by applying these techniques.