NER meaning in General ?

Named-entity recognition (NER) (also known as (named) entity identification, entity chunking, and entity extraction) is a subtask of information extraction that seeks to locate and classify named entities mentioned in unstructured text into pre-defined categories such as person names, organizations, locations, medical codes, time expressions, quantities, monetary values, percentages, etc.

Most research on NER/NEE systems has been structured as taking an unannotated block of text, such as this one:

Jim bought 300 shares of Acme Corp. in 2006.

And producing an annotated block of text that highlights the names of entities:

[Jim]Person bought 300 shares of [Acme Corp.]Organization in [2006]Time.

In this example, a person name consisting of one token, a two-token company name and a temporal expression have been detected and classified.

State-of-the-art NER systems for English produce near-human performance. For example, the best system entering MUC-7 scored 93.39% of F-measure while human annotators scored 97.60% and 96.95%.