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| | | LAS VEGAS, Oct. 26, 2015 /PRNewswire/ -- IBM INSIGHT 2015 --? IBM (NYSE: IBM ) today announced a new data capture solution – embedd... | |
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Businesses today must contend
with an unprecedented volume and variety of data, with unstructured
information accounting for about 90 percent of enterprise
information[1]. This comes in many forms, from documents to images, and
rich media. And many day-to-day operations are driven by business
transactions that produce paper and digital documents that companies
must manage with capture and imaging solutions. As businesses complete
more complex transactions like processing loan applications or
cross-border shipments, human intervention is needed to review, classify
and make sense of the document's content.
By applying a combination of
advanced imaging, natural language processing, and machine learning
technologies, IBM Datacap Insight Edition can automatically classify and
understand the document – including format and structure, as well words
and numeric information – from any document type to help businesses
quickly and accurately determine the appropriate action to take.
This is particularly important in:
- Banking and Finance
- where different business lines such as Retail/Commercial banking,
Lending, and Investment banking require similar documents for differing
contextual reasons
- Healthcare - where
doctors and hospitals are transferring hand written notes and images
into electronic health records for analysis or filing.
- Insurance - where
roughly half of all documents received are titled "correspondence" and
need to be analyzed for content and classified appropriately.
"In the insurance industry,
it is important to accurately capture and understand unstructured data.
This is especially true when it comes to claims because they often
include a high percentage of unstructured data in the form of
correspondence. A cognitive capture solution would be extremely useful
in helping us to automate the processing of these documents," said Paul
Deffinger, Director ECM Applications at Great American Insurance.
By analyzing the content, IBM
Datacap Insight Edition can identify which content to apply analytics to
at the point of capture, while continually learning about new document
types for future use and overall faster processing. It applies business
rules to help organizations determine what needs to be done – whether a
document should be passed to a line of business system or should
initiate a case and workflow for additional actions.
"Integrating cognitive
capabilities within document capture helps eliminate the need for
time-consuming and costly manual intervention while maintaining the
accuracy and speed required by businesses," said Beth Smith, GM, IBM
Analytics Platforms. "And even more importantly, cognitive capture
allows a business to learn as it processes more transactions to
continuously improve speed and accuracy, while making evidence-based
decisions around critical day-to-day tasks and interactions."