A Text Tagger and linker

How about something which takes a doc or spreadsheet and finds the important words(ie skips common words ) and tags them and makes links of them so when you click on a word it brings up other places in that document and other documents associated with that.

im thinking of council meeting minutes. click on name on and it bring up every question that person asked, or bring up which words or topics the person said the most, its sorta like an automatically creating content for a cms, but not quite.

i best go learn how to use drupal... :)