Did you know that worldwide data production and consumption had already reached 64.2 zettabytes three years ago? With no end in sight to global data production, it is further projected to grow to more than 180 zettabytes by 2025, as illustrated by Statista.
The continuing advancements in technology and various other factors have led to the world’s data growing exponentially. However, the majority of data created every day is usually raw and unstructured. Whether it’s audio, text, image, or video-big data when meticulously collected, organized, and processed can be leveraged to propel business growth and success with the help of modern technologies such as AI, ML, and RPA.
And for companies looking to strive, let alone thrive through the cutthroat competition, relying on existing manual data collection workflows no longer suffices. They must have automated data capture solutions in line with the strong growth of the data volume to properly harness it.
Introducing Smart Data Transformation
In this, human expertise is combined with the next-gen tech marvels including AI, ML, and RPA to transform raw unstructured data into schema-compliant and tagged structured XML for AI/ML applications, data analytics, and products. Be it proprietary or public data, you can easily transform them into structured and normalized data using smart solutions.
The automatic data capture process involves extracting data from different documents using tools and software such as OCR, OMR, ICR, voice recognition, etc. The gauged-out information is then transformed into a computer-readable format. Machine Learning and AI programming enable the software to read and translate images and paper files and turn them into easily accessible digital files. Automated data collection allows businesses to streamline their document management, among other benefits.
Given the time-consuming and mundane nature of manual data entry tasks, there is the danger of inevitable human error occurring. But with automated data processing at rescue, using technologies like IDR, OCR, ICR, and Artificial Intelligence can help alleviate these mistakes. The smart software can swiftly scan through documents as well as compare them to templates and other files to assure data is complete and information like names, date of birth, and gender are accurate on sensitive documents.
The digital workforce is specially designed to perform no-brainer tasks like online data collection and data capture. Stakeholders can easily optimize their workflows by assigning repetitive tasks to these bots. So, when businesses invest in automated solutions, they get the dual benefits of increased efficiency and maximized productivity.
Transcription and data entry are essential processes for keeping records, but performing them manually can be rote and time-consuming. Amidst this, automating the data capture and collection process is one of the most effective ways to optimize workflows.
Regulatory Compliant Data
Workflow software that supports automatic data capture and collection can also simplify data processing and streamline management. A majority of businesses need to keep records of compliance with occupational safety regulations and other industry-specific standards. Hence, the successful implementation of workflow management software is the first step towards automated data capture, which in turn provides access to current and reliable data managed in accordance with set practices.
Agile Data Management
Automatic data capture integrated with online collection also offers organizations the advantage of real-time reporting and analytics. Leveraging this approach allows the stakeholders to free their resources from the burden of taking and reporting timely readings.
And, it goes without saying that workflows across an enterprise benefit from real-time access to data. Processing delays caused due to manual tasks such as data entry or others can either be eliminated or optimized through automation-by setting up notifications to sync automated and manual processes.
Real-Time Data Capture and Analytics
Heavy construction is one such industry where real-time, as well as accurate data capture, is critical. An organization that takes the right approach to infuse automation in non-core processes like data entry can provide employees and clients with the most current information.
Construction companies are often held accountable for structural and occupational safety regulations. Real-time data captured at the necessary sites and points provide the necessary proof of compliance, which is useful in reviews, audits, or for meeting other reporting requirements.
Apart from digital data, files, and documents, it is possible to digitize the process of capturing other types of data. From magnetic stripe cards to magnetic ink character recognition and any other data capture methods that are in use, you can scrape out valuable information from practically any source using automatic data capture tools and technologies.
All in all, adopting intelligent automation for ancillary tasks such as web data collection, data capture, data cleansing, etc., is a complex undertaking. But the rewards you get in return are all worth it. As an organization, employees will be free to do higher-value work, customers will be delighted by new experiences, and your business will set the standards for others to follow.
The post Smart Data Transformation – The Sustainable Solution for Long-Term Business Growth appeared first on Datafloq.