Whether it’s CRM software used to track sales, ERP software for streamlining production, email software for tracking communication, advertising software used for marketing (Meta ads, LinkedIn ads, Google ads, Bing ads, etc.), or other third-party apps for streamlining business operations—organizations have customer data dispersed across a myriad of platforms.
According to Statista, the total amount of data created, copied, and consumed globally had already reached 64.2 zettabytes in 2020. The same is expected to reach more than 180 zettabytes by 2025. Organizations tapping into data-driven decision-making to pull ahead of the competition have to collect these vast amounts of data produced and extract intelligence using data analysis.
As evident, the amount of data being produced in the world is growing exponentially, but the majority of it is unstructured which makes it unfit for business consumption. Keeping a record of all the differences and working on extracting information can be extremely time-consuming.
Whether it’s the image, audio, video, text, or big data, when well collected, organized, and processed can be used to drive business success and growth through leveraging modern technologies such as Robotic Process Automation, Artificial Intelligence, and Machine Learning. Growth-focused companies understand that data collection lays the foundation for the data processing and analysis stage; thus, they automate their data aggregation process to accelerate their time to value.
The Automation Advantage
Remember cash registers where each product had to be entered manually by employees? Take another example of supply chains where passing an item from one level to the next of the chain meant filling in a ridiculous amount of paperwork. These manual tasks were made easy with the help of barcode scanners—one of the first examples of data capture systems that accelerated item identification and processing.
However, the world has now moved beyond data collection devices such as RFID readers or barcode scanners into fully automated data collection systems and smart data capture solutions. These automatic data capture platforms take all of a company’s data sources such as CRMs, ERPs, advertising software, emails, accounting software, etc., and extract valuable information without the need for a programmer to do the coding-decoding.
Smart data transformation solutions combine human expertise with AI, ML, and RPA. Hence, whether you have public or proprietary data in a raw unorganized format, automatic solutions can help you transform them into tagged and schema-compliant structured XML for data products, analytics, and AI/ML applications.
Automated Data Capture Methods
Automated data capture systems come in different methods and forms that change based on the unique needs of a business. Additionally, the level of automation can be changed to meet certain character recognition requirements. Listed below are some of the most common automated data capture methods:
- Optical Character Recognition (OCR)
As the first revolutionary technology in automated data capture, Optical Character Recognition is used to convert typed documents, PDF files, images, or scanned documents into editable, searchable, digital documents.
Since the 1990s, OCR has helped companies across multiple sectors including healthcare, finance, logistics, and governments, to digitize their files accurately. It is extremely helpful for sectors dealing with sensitive information such as patient information and medical claims.
- Optical Mark Recognition (OMR)
This is another excellent way to manage all the documents. Optical Mark Recognition not only recognizes characters but also scans documents for marks such as filled-in bubbles and checkmarks. OMR is commonly used to expedite and facilitate capturing of human-marked details including consumer feedback or surveys, multiple-choice tests, symptoms checklists, poll results, etc.
- Intelligent Character Recognition (ICR)
Intelligent Character Recognition technology leverages Machine Learning to teach machines to comprehend handwritten documents and focuses on solving complex challenges. Though the accuracy offered is not that high, ICR can save significant time processing handwritten documents.
- Intelligent Document Recognition (IDR)
Intelligent Document Recognition is a highly sensitive and accurate data capture method from any part of a document, including the tags and meta description. It is more like a complex type of Optical Character Recognition, which is used to extract data from unstructured documents such as medical forms, delivery notes, and invoices.
Additionally, IDR is capable of interpreting patterns, tables, and content in both paper and electronic formats, recognizing the start and the end of a document, as well as sorting documents according to their category. This method is commonly used in legal, logistics, mailrooms, and accounting companies.
- Voice Recognition
If you have Siri, Alexa, Cortana, or Google Assistant, you are already using some type of voice recognition algorithm. Voice Recognition technology leverages Natural Language Processing (NLP) embedded in Deep Learning algorithms to recognize and comprehend different voice patterns. It has countless applications when combined with smart chatbot technologies as they can provide excellent customer service, support, and security.
- Magnetic Ink Character Recognition (MICR)
Magnetic Ink Character Recognition Technology is used to identify specially formatted characters printed in magnetic ink. This is commonly used in banks to speed up the processing of checks and other documents. One of the good things about this technology is that people can read the data as well.
Benefits of Automated Data Capture
- Faster Turnaround Times
Processing speed is one of the unavoidable benefits of automated data capture. Imagine how a nightclub bouncer would have a difficult time trying to verify the age of a customer by looking at them or the time it would take to manually process, proofread and mail out medical claims. With ID scanning software, this process would take a few seconds.
- Minimized Errors
Manual data entry includes high chances of human error. However, you can easily avoid these mistakes with automated data processing as the smart data collection software can swiftly scan through documents. They can compare these documents to templates and other files to assure data is complete and things such as names, gender, and date of birth are accurate on sensitive documents.
- Boosted Efficiency
With automated data collection systems at your disposal, you can simplify complex tasks that in turn help you to increase efficiency. Besides, replacing physical files with digital files serves to eliminate workplace clutter and makes all files accessible to authorized persons from any device and at all times.
- Cost Savings
Numerous organizations have turned to automation because of its cost-saving benefits. You can eliminate costs related to ongoing training, extra labor, equipment maintenance, document storage, and system updates with automation.
- Greater Employee Satisfaction
Outdated manual processes like prolonged data entry are both mentally and physically taxing, which makes it difficult for employees to focus on such arduous tasks for a long duration. Automating such processes facilitates employees to better focus on more engaging tasks or core competencies.
Endnote
Among the benefits of automated data capture solutions include faster turnaround times, cost-optimization, reduced human errors, enhanced customer experience, and greater employee satisfaction.
The Statista reports proved the same as most respondents agreed that automation reduced the risk of equipment failure, performance issues, data breaches, and regulatory compliance violations, as of 2021. At the same time, 50 percent of respondents agreed that automation processes give more space to the IT staff to focus on strategic initiatives. Hence, you already know what to do next.
9 thoughts on “Why Automated Data Capture Solutions are a Smart Way Forward for Businesses?”
MUST READ FOR ALL VICTIMS OF CRYPTOCURRENCY THEFT AND FAKE RECOVERY EXPERT
Below is the genuine process to retrieve your stolen/scammed funds.
Sometimes in early January I lost about £167,500 to a fake broker who promised me 100% profit on my investment monthly only to discover few days ago it was a shady investment and I became worried my money is gone until I got referred to RecoveryBureauC by my close friend and this team was able to totally recover my stolen funds within few hours I hired them at ( RECOVERYBUREAUC @ GMAIL C0M). This has been the best service I ever got on the internet and this agency worth the positive recommendations they got on here. Get in touch now if you need similar help and they were able to put me on a better investment platform where I’m currently enjoying massive profits.
Contact info;
RECOVERYBUREAUC @ GMAIL C0M
WhatsApp: +56 9 3129 3092.
Many have come to the conclusion that Bitcoin and other cryptocurrencies cannot be traced or recovered but it’s incorrect, it can be traced and recovered with the right tools and resources. I was one of those who didn’t believe in it but I was able to recover my Bitcoin after I sent a huge amount to the wrong address with the help of a recovery team called CYBERWALLFIRE. I thought all hope was lost for good but with the intervention of CYBERWALLFIRE, I was able to trace and recover my Bitcoins. Truly remarkable work by CYBERWALLFIRE and I highly recommend their service.
CYBERWALLFIRE can be reached via E-mail: Cyberwallfire(@)techie(.)com
Almost every day, there is different news of scams all over the world. Here’s just a piece of advice I can give, we should be careful of all these so-called cryptocurrency & investment companies and beware of Forex trading. I was once a victim who almost lost everything I worked for in my life. Luckily, I was rescued by Astraweb Cyber Service, an organization that helps track and recover stolen BTC or any type of cryptocurrency. Please be careful out there and contact them immediately to get back your lost funds. For more info contact them through E-mail:[email protected]
FOR RECOVERY OF STOLEN BITCOIN / CRYPTOCURRENCY , RECOVERY OF LOST FUNDS FROM SCAMMER.
Good day to everyone here on this platform, I’m Maria Elisabeth from Chicago, Illinois, I want to share my experience with internet scammers. I lost about USD 85,544.00 to a fake crypto investment scam. They posted as an investment company that could deliver a certain percentage in returns if you deposit your Bitcoin with them. At first, it seemed real, it worked twice. I didn’t realize they set up a bot (robot) that will completely shut down my account after i have decided to invest a higher amount. So I couldn’t access my crypto account anymore. I contacted customer service and they told me about an unending website upgrade. To cut the long story short, it was a scam and I was able to do research and saw a comment about a similar experience with a bitcoin scam, and how WIZARD WEB RECOVERY help a victim recover back her stolen crypto within 12 hours, I decided to contact them because I was desperately in need of help to get back my life savings. They asked me some questions regarding the investment. I told them and they asked for my bitcoin wallet address, which I provided for them. To my greatest surprise, they helped me recover my invested crypto back. have you been scammed of your Crypto or Bitcoin? Do you need a reliable hacker to help you with anything related to hacking? Contact them via
Telegram: https://t.me/WizardWebRecovery
Email: [email protected]
Python Development Services
Harness our Python development expertise to create a dependable, efficient, and tailor-made solution. Whether you require assistance or not, we are here for you. Take advantage of this rapidly advancing technology to build advanced applications quickly.
This – https://chudovo.com/python-development-services/
Opportunities are very rare these days because of the high rate of spamming existing on the internet right now but when we find those that are legit we should share their good deeds to prevent people from falling victim of spam. I saw someone who made a review about how she met this FX broker, who provide her with the best trading signals and I took the risk. I started with just $2000 to test the system, they help me trade with my deposit and after 7 working days I made a withdrawal of $20,300. I was so amazed with the profit earned, I told Mr Mark Toray I was gonna refer him and his company to a lot of friends, you can contact him for all FX trading needs via his email [email protected] or telegram @mark4toray_fx You will be glad you did it
Never met any hacker as discrete and fast like this Michael Murphy Hacker. He has helped me in multiple ways. First was when my ex wife cheated on me and then he paid my credit card debts plus he helped me gain access to my spouse’s phone remotely and I was able to use that against her in court. I must say he’s the best at what he does and I recommend him to the world. Email; Michealmurphy At Repairman DOT Com, you can be sure to thank me later. I will keep on telling the world that he’s the best out there, I am very thankful because he gave me and my kids a second chance .Are you interested in the service of a hacker to get into a phone, Face book account, snap chat, Instagram, yahoo, WhatsApp, get verified on any social network account, increase your credit score, bank wire and bank transfer. Contact him on contact Michael ASAP
GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735
I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich {[email protected]} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.
You can also contact them for the service below
* Western Union/MoneyGram Transfer
* Bank Transfer
* PayPal / Skrill Transfer
* Crypto Mining
* CashApp Transfer
* Bitcoin Loans
* Recover Stolen/Missing Crypto/Funds/Assets
Text & Call or WhatsApp: +18033921735
Website: https://darkwebonlinehackers.com
This is a very joyful day of my life because of the help PRIEST Salami has rendered to me by helping me get my ex-husband back with his magic and love spell. I was married for 6 years and it was so terrible because my husband was really cheating on me and was seeking a divorce but when I came across PRIEST Salami email on the internet on how he helped so many people to get their ex back and help to fix relationships. and make people happy in their relationship. I explained my situation to him and then sought his help but to my greatest surprise, he told me that he will help me with my case and here I am now celebrating because my Husband has changed totally for good. He always wants to be by me and can not do anything without my presence. I am really enjoying my marriage, what a great celebration. I will keep on testifying on the internet because PRIEST Salami is truly a real spell caster. DO YOU NEED HELP THEN CONTACT DOCTOR PRIEST Salami NOW VIA EMAIL: [email protected]. Whatsapp number: +2348143757229 He is the only answer to your problem and makes you feel happy in your relationship…