OCR Is Used by Data-Driven Businesses For The Highest Data Quality

  • 29/08/2023

OCR Is Used by Data-Driven Businesses For The Highest Data Quality

  • 29/08/2023

OCR Is Used by Data-Driven Businesses For The Highest Data Quality

  • 29/08/2023

OCR Is Used by Data-Driven Businesses For The Highest Data Quality

  • 29/08/2023

OCR Is Used by Data-Driven Businesses For The Highest Data Quality

  • 29/08/2023

OCR is the most recent advancement in data extraction technology, and data-driven businesses are jumping on board to take advantage of its benefits. Utilizing technology to the benefit of your corporation might bring about a variety of positive outcomes.

What is OCR, and how is it used by data-driven businesses?

OCR, often known as optical character recognition, is a tool for reading documents and gathering data. The way you may process your documents has radically changed thanks to automated and far more dependable OCR software.

Every business handles a specific number of documents daily, such as invoices, receipts, logistics, or HR paperwork. You must save these documents, extract the data pertinent to your company, and manually add it to your database.

The Advantages of OCR For Your Business

1. Enhanced Speed and Accuracy

Your document management and processing are made better by automated data capture. Utilize OCR technologies to increase speed and precision. Here are just a few advantages that adopting OCR software might bring to your business.

2. Higher Effectiveness

Because it operates in a standardized manner, OCR enables the processing of a greater number of documents. It is possible to extract data from documents more quickly than it is possible to enter data manually.

3. Time-Saving Techniques

You will be able to process more documents more quickly with OCR and automation of your document processing.

Within a few seconds, the OCR software analyzes and extracts your information (2 to 5 seconds). This process can take several tens of minutes when done manually.

4. Credit Cards Data Extraction

You might need to extract credit card data for the online registration of new customers, and you might need to harvest credit card data as a bank. Here is how the OCR program retrieves the data you require in just three simple stages while being safe, quick, and dependable.

  • Start by providing a document with the credit card to be processed in order to extract the information by PDF, image, or by using your smartphone’s camera to scan the blue card using the app.
  • The second stage of your document analysis extracts all the information on the blue card. They are not structured, nevertheless, at this time.
  • When the OCR application receives an image, it optimizes it and turns it into a plain text file. The text on the card has been retrieved at this point but has not been organized.

The recovered text is organized in the third and final stage, which also provides you with it in JSON format.

5. Verification of a Driver’s License For Insurance Purposes

Let’s assume that your business is an insurance company. Drivers must present their driver’s license in order to obtain an insurance certificate for their vehicle. Do you envision yourself collecting data from every client? Repeating this arduous, time-consuming activity every day? No? See how OCR automatically extracts information from a driver’s license?

  • Start by giving the OCR software your driver’s license to process. Send a PDF, a picture, or a scan to the OCR software using your smartphone.
  • In a matter of seconds, the OCR application mechanically extracts the information. Although all driving license data has been extracted, it is not yet structured. For the time being, the result is in TXT format.
  • The parser structures all of the extracted data in the last step. The result is presented at this point in JSON format.

Frequently asked questions:

What is the use of data-driven?

Utilizing a data-driven strategy, businesses can organize and analyze their data to better serve their customers. By leveraging data to direct its actions, a company can contextualize or adapt communications to its prospects and consumers for a more customer-centric approach.

What is data-driven quality?

With data-driven quality management, you may anticipate potential fault locations before, during, and instead of after production. This method entails methodically gathering and reviewing real-time, high-quality data. Creating high-quality models and profiles using data.

What is an OCR used for?

Optical character recognition is the process used to convert a text image into a machine-readable text format (OCR). Your computer will save the scanned image of a form or a receipt as an image file. A text editor cannot be used to change, look up, or count the words contained in the image file.

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At Hir Infotech, we know that every dollar you spend on your business is an investment, and when you don’t get a return on that investment, it’s money down the drain. To ensure that we’re the right business with you before you spend a single dollar, and to make working with us as easy as possible, we offer free quotes for your project.

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Request a free quote

At Hir Infotech, we know that every dollar you spend on your business is an investment, and when you don’t get a return on that investment, it’s money down the drain. To ensure that we’re the right business with you before you spend a single dollar, and to make working with us as easy as possible, we offer free quotes for your project.

Subscribe to our newsletter!

Request a free quote

At Hir Infotech, we know that every dollar you spend on your business is an investment, and when you don’t get a return on that investment, it’s money down the drain. To ensure that we’re the right business with you before you spend a single dollar, and to make working with us as easy as possible, we offer free quotes for your project.

Subscribe to our newsletter!

Request a free quote

At Hir Infotech, we know that every dollar you spend on your business is an investment, and when you don’t get a return on that investment, it’s money down the drain. To ensure that we’re the right business with you before you spend a single dollar, and to make working with us as easy as possible, we offer free quotes for your project.

Subscribe to our newsletter!

Request a free quote

At Hir Infotech, we know that every dollar you spend on your business is an investment, and when you don’t get a return on that investment, it’s money down the drain. To ensure that we’re the right business with you before you spend a single dollar, and to make working with us as easy as possible, we offer free quotes for your project.

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