Named-entity recognition (NER) (also known as entity identification, entity chunking and entity extraction) is a subtask of information extraction that seeks to locate and classify named entity mentions in unstructured text into pre-defined categories such as the person names, organizations, locations, medical codes, time expressions, quantities, monetary values, percentages, etc.Jim bought 300 shares of Acme Corp. in 2006.Person bought 300 shares of Organization in Time. Named-entity recognition (NER) (also known as entity identification, entity chunking and entity extraction) is a subtask of information extraction that seeks to locate and classify named entity mentions in unstructured text into pre-defined categories such as the person names, organizations, locations, medical codes, time expressions, quantities, monetary values, percentages, etc.