Semantic relatedness (SR) is a form of measurement that quantitatively identifies
the relationship between two words or concepts based on the similarity or
closeness of their meaning. In the recent years, there have been noteworthy
efforts to compute SR between pairs of words or concepts by exploiting various
knowledge resources such as linguistically structured (e.g. WordNet) and
collaboratively developed knowledge bases (e.g. Wikipedia), among others. The
existing approaches rely on different methods for utilizing these knowledge
resources, for instance, methods that depend on the path between two words, or a
vector representation of the word descriptions. The purpose of this paper is to
review and present the state of the art in SR research through a hierarchical
framework. The dimensions of the proposed framework cover three main aspects of
SR approaches including the resources they rely on, the computational methods
applied on the resources for developing a relatedness metric, and the evaluation
models that are used for measuring their effectiveness. We have selected 14
representative SR approaches to be analyzed using our framework. We compare and
critically review each of them through the dimensions of our framework, thus,
identifying strengths and weaknesses of each approach. In addition, we provide
guidelines for researchers and practitioners on how to select the most relevant
SR method for their purpose. Finally, based on the comparative analysis of the
reviewed relatedness measures, we identify existing challenges and potentially
valuable future research directions in this domain.