Tokenization refers to the process of converting a string of text into tokens, which are essentially words or terms. The reason tokenization is useful is because it can help convert unstructured data (like natural language) into structured data (like numbers and machine-readable text), which can be more easily analyzed.
One common approach to tokenization is to simply split a string of text into tokens based on whitespace, which is what we did in the previous section. However, this approach doesn't always work well because it doesn't take into account things like punctuation or contractions.
Tokenization is also helpful in the protection of data against hackers. Tokenization is useful because it makes it more difficult for hackers to access sensitive information. By tokenizing data, companies can reduce the risk of data breaches and protect the privacy of their customers.
Additionally, Tokenization is important to marketing in that it can help create more targeted content and ads. Tokenization can also help improve customer experience by allowing for more personalized service. In addition, Tokenization can help protect customer data and privacy.
Overall, tokenization is a very helpful and useful tool, especially when it comes to data analysis and security. Tokenization can help make data more manageable and easier to understand while also protecting sensitive information.
Tokenization works by replacing sensitive data with a unique identifier or “token” that retains all the essential information about the data but doesn’t reveal any of its actual contents. The token can then be used to securely access and store the original data.
Tokenization provides enhanced security for sensitive data, reduces fraud risk, simplifies compliance requirements, and increases operational efficiency.
Fun Fact:
"Tokenization is projected to drive $1.67 trillion in global card payments by 2022, according to a study conducted by Juniper Research." (Juniper Research, 2019)