Peeking Into Graph Extraction Using Infrrd’s IDC Platform
by Amit Jnagal, on September 9, 2019 11:00:00 AM PDT
Whether you’re presenting an annual report, comparing sales figures, or highlighting a trend, visual representations such as graphs or charts are a great help to understand data elements quickly. However, in today's hyper-interactive world, it’s hard to understand why data still continues to be represented as colorful graphs. These data trapped visual representations that cause restrictions in harnessing the data or make better decisions.
With an increase in document volumes and a growing number of layouts, graph extraction has become a complex process; its optimization is a struggle for many organizations. Manual data retyping is prone to up 90% error, is time-consuming, and is therefore not scalable. This grinding process also requires significant rework and is an area that could benefit from AI-enabled automated platforms.
Many enterprises already understood this and are ready to jump right into automated solutions, implement them into their business processes, and reap the benefits. These solutions have a fast, direct, and measurable impact on operations including graph extraction, improved compliance, security, and workflow.
Unlike humans, automated platforms have no distractions and need no breaks. This can bring graph extraction to a new level of efficiency and efficacy, freeing data entry employees from tedious work and letting them concentrate on added-value activities.
"Intelligent Data Capture Can Achieve Up To 95% Accuracy and Processes 12x Faster Than Manual Processing."
While traditional OCR solution may still be a better option for a few organizations, it fails to address critical challenges of graph extraction like identifying trends. Moreover, it also fails to address issues such as identifying overlapping graphs or axis scales and labels.
Unlike OCR technology, the IDC platform is powered with AI-capabilities like Machine Learning and Natural Language Generator (NLG) to analyze the full population of data and identify outliers and expectations. It is these capabilities that enable entrepreneurs to draw a broader and deeper set of insights from visual representations. Once all the rules are in place, the data is extracted quickly and accurately, thereby increasing productivity and reducing the number of keystrokes required to perform the graph extraction task.
Infrrd's IDC platform holds the capability to comb through reams of visual representations effectively and efficiently.
Benefits of Infrrd’s Intelligent Data Capture Platform:
- Effort Reduction: The IDC platform is well-equipped with cognitive capabilities that makes self-learning feasible and adapts different layouts, configuration, rules, or templates. This saves a great deal of effort.
- Time-saving: IDC solutions can process graphs 12x times faster than humans letting employees work on value-added tasks.
- High Precision: Through self-learning, the module learns to become more efficient and reduces human-ridden errors leading to more accurate and faster results.
- Increased Productivity: With IDC in place, it’s possible to perform graph extraction in less time with reduced errors. This means less double-checking and reworking tasks, leading to higher efficiency and productivity. Moreover, the business processes will be streamlined, resulting in less focus on repetitive low-level and manual work.
- Cost-Effective: Since there is no need to configure rules, templates, or layouts every time, implementation costs will be decreased significantly.
- Better Process Management: By eliminating human errors from the process and letting employees focus on value-added tasks dynamically increases productivity and streamlines the work process.
With the rise of AI technologies, we are just at the dawn of the automation revolution. All of the above-mentioned benefits are symbiotic and not mutually exclusive. While the technology is still developing, it will continue to improve not only the company’s bottom line, but today’s business operations overall.
Connect with us today for a consultation or a free demo to understand more about Intelligent Data Capture and its abilities.