Cognitive Data Capture, Explained: What Cognitive Data Capture Means for Automated Document Processing
Data capture has historically been a focal point for efficiency and innovation, dating back to the popularity of the steno pool. From that point forward, with dictation and transcribed notes to Xerox and the fax machine, data capture has been poised for full automation since the possibilities of computing were first dreamt of.
Cognitive data capture realizes that vision. This technique utilizes artificial intelligence and machine learning algorithms to extract unstructured data (such as text within image files or PDFs) and convert it into structured data (Excel sheets or tables).
Far faster and more accurate than manual data entry, the realization of cognitive data capture has emerged from the earliest days of optical character recognition (OCR) and intelligent document processing (IDP).
What is Cognitive Data Capture?
Cognitive data capture is the process of using artificial intelligence to extract unstructured data from a document and convert it into structured data for a computer to read and analyze.
Cognitive data capture differs from manual data processing and other forms of OCR in that it uses the strengths of AI and machine learning to recognize patterns, ignore imperfections in a document, and use cognitive reasoning to evaluate and perform document analysis with precision.
As with many forms of artificial intelligence and machine learning, cognitive data capture solutions can improve their accuracy and efficiency by using training models or by processing a greater number of documents over time.
How Cognitive Data Capture Works in Modern Intelligent Document Processing (IDP)
When used in a modern IDP solution, cognitive data capture works in unison with several different computerized processes, including AI, machine learning, neural networks, OCR, natural language processing, and more. As a result, the process can produce an incredibly accurate account of the unstructured data contained within a document or file.
In leveraging these many technologies, cognitive data capture hopes to streamline data processing in accounting, law, healthcare, logistics, accounts payable, and other business applications.
Advanced IDP solutions like Rossum use cognitive data capture to analyze unstructured documents at scale, helping reduce manual processing and approach 99.9% accuracy after just a few weeks of deployment. Plus, systems like Rossum can integrate into existing business systems, helping to automatically sort and file processed documents after they’ve been analyzed.
The Benefits of Using Cognitive Data Capture in Modern IDP Solutions
Compared to traditional data capture forms like manual processing, copy/paste, and scanning/OCR technologies, a cognitive data capture solution is faster, more accurate, and works intuitively within existing organizational systems.
From a resource perspective, instituting a cognitive data processing solution is a no-brainer. The amount of time saved alone is worth the cost of incorporating such a solution, as 50% of knowledge workers’ time is spent verifying and sorting data.
So called “bad data” costs the United States $3.1 trillion annually — that’s not just typos. Duplicate data, incorrect information, outdated data, document errors, bad formatting, lack of organization, outdated archival and retrieval systems — the list of factors in this loss goes endlessly on.
A cognitive data capture solution like Rossum can not only achieve greater degrees of accuracy in unstructured data extraction, but help sort and organize existing data to help expand searchability, helping to streamline audits and research throughout your organization.
Begin Your Journey to More Accurate and Useful Data with Cognitive Data Capture from Rossum
Rossum is a leading provider of next-generation intelligent document processing solutions, integrating cognitive data capture solutions like artificial intelligence, machine learning, and neural networks to help extract unstructured data with pinpoint accuracy.
Built to integrate into existing systems and work from anywhere, Rossum’s cloud-based solution helps our clients extract, analyze, sort, and act upon their data regardless of format or source.