1. A method for analyzing items using lexical analysis and filtering process comprising of: storing a plurality of items in a data storage unit, wherein said plurality of items are represented by source data and said source data is one of structured data and unstructured data; parsing the unstructured data of the source data to extract at least One textual data along with any available structured supporting information; parsing the structured data of the source data to extract a set of associated data in a tuple structure, said tuple structure being formed by each a subject being the conceptual information representing each item of said plurality of items, a predicate including information representing one or more categories of each item of said plurality of items, and an object including information representing the extracted data itself; processing the extracted data from each item of said plurality of items, wherein said extracted data is associated with an item of said plurality of items; processing the extracted data from each item of said plurality of items, wherein said extracted data is matched against a list of synonyms associated with said plurality of items; displaying a first group of said items based on said extracted data of said items on an electronic display presented in at least one of a tabular view and a geospatial view, wherein said electronic display is electrically connected to at least one processor in electronic communication with said source data, wherein said first group of said items represents items having at least one common characteristic of said extracted data; mapping each of said plurality of items with at least one lexicon term, wherein said extracted data is analyzed to identify a match between said plurality of items and lexicon terms, wherein said lexicon terms are represented as a network of a plurality of nodes and each node of said plurality of nodes represents a lexicon term, which is subordinate to at least one of a parent node and a child node; mapping each of said plurality of items with at least one lexicon term based on an associated synonym, wherein said extracted data is analyzed to identify a match between said plurality of items and synonyms of said lexicon terms, wherein said lexicon terms are represented as said network of said plurality of nodes and each node of said plurality of nodes represents said lexicon term, said associated synonyms corresponding with at least one lexicon term identified at each node of said plurality of nodes; and displaying a second group of said items, wherein said second group of items represent said items mapped to a first matching lexicon term of said plurality of lexicon terms on said electronic display presented in at least one of said tabular view and said geospatial view, wherein said electronic display is electrically connected to at least one processor in electronic communication with said source data.