PESTLE BASED EVENT DETECTION AND CLASSIFICATION

Abstract

Organizations use PESTLE classification as a tool for tracking the environment in which they are functioning and for launching plan of new product or service. It helps to give true view of the environment from different aspects. These aspects are essential for any business that organization may be in as it gives a clear picture one wishes to check and observe while contemplating on certain idea or plan. The PESTLE framework helps to understand the market dynamics and is also one of the pillars of strategic management of an enterprise that drives goal and strategy for them. PESTLE based event detection approach proposed in this paper would help for PESTLE analysis of any organization. It puts together all relevant factors in terms of detected events in one place and classifies them into separate buckets while taking current market situation into consideration. We accomplish this with the application of clustering technique and later training the classifier to classify the events in PESTLE format.