As the world goes digital, advanced technologies have drastically changed the way of capturing information – data extraction, storage, and verification can be fully automated. Digital solutions capture data faster and more accurately than humans do, saving time and resources. “Who rules the data, rules the world” – automated data capture methods are in the focus of our attention today.

What Is Data Capture? How Does It Work and Why Do We Need It?

As the name implies, data capture means extraction of data for its further processing. Enterprises across various sectors process tons of documentation daily. More often than not the extracted data is needed for other documentation, such as compiling data charts, issuing invoices, storing databases, and making informed decisions.

Methods of Capturing Data: Manual Capture and Automated Data Capture

Methods of data capturing can be divided into two categories: manual capturing and automatic data capture.

Manual capturing means extracting the necessary data from various documentation and manual entry into the computer system, so that information is presented in the digital form. However, manual data capture and entry is still used for extracting small data volumes from unstructured documents when using automated solutions isn’t profitable.

Automated data capturing minimizes human involvement and extracts, stores, and processes data from diverse sources automatically. Automated data capture solutions help enterprises to streamline routine processes, accelerate data management and processing, lower operational costs, and save valuable human resources for more strategic tasks.

Methods of Automatic Data Capture

As data volumes grow and become unmanageable (error-prone and slow) for manual processing, businesses turn to technologies that help to extract and process information from various sources. The most common methods include:

• OCR. This method is based on optical character recognition technology that identifies and extracts information from photos and scanned documents and transforms it into digital form.
• ICR. Intelligent character recognition is considered an advanced version of the OCR technology and used to process handwritten (unstructured) documents or forms that combine printed and handwritten information.
• IDR. The intelligent document recognition technology deploys AI and NLP algorithms to identify the required data from diverse types of documents, capture the necessary data, and even verify it. Built-in self-learning capabilities ensure high accuracy levels. IDR is used for processing applications, receipts, invoices, etc.
• OMR. The optical mark reading technology helps to identify and capture human-made marks (checkboxes and marked fields) in various documents. This method has found its application in ballots and surveys.
• MICR. The technology is responsible for recognizing characters printed in a magnetic link. This method is often used by banks for processing checks.
• Intelligent image and video capture. The technology is commonly used for recognizing and extracting information for further analysis. This method has found its implementation in biometric identification, security check-ups, etc.
• Intelligent voice capture. Speech recognition technology can recognize and understand speech. Some popular messengers with voice messaging function offer to transform voice messages into text.
• Magnetic stripe cards. Encoded data is stored in a magnetic stripe and can be decoded by special code-reading devices. This method is used in ID cards, transport cards, bank cards, hotel room cards, etc.
• Barcodes and QR codes. Barcodes contain encrypted data in 1D format, while QR codes — in 2D format. Both solutions are commonly used in digitized industries for fast and accurate data capture.

Differences between automatic data capture methods

As you see from the brief description of methods, they deploy different technologies. While choosing a solution, note that some methods have specific uses.

For example, OCR is a great tool for structured documentation, such as purchase orders and invoices. If your company needs to process large volumes of handwritten documents, ICR might be a better option. IDR goes further and can capture information and sort documents into predefined categories. It is suitable for processing tax returns, insurance claim applications, and so on.

Small differences in functionality prove that you can always choose a solution for specific needs.

Advantages of Automatic Data Capture for Businesses

• High accuracy. Automated data capture solutions can process huge volumes of documents within minutes instead of days or weeks in case of manual processing. Moreover, technologies don’t suffer from exhaustion or low concentration, so the risk of errors is minimal. AI-driven data capturing methods with built-in self-learning capabilities can continuously improve the accuracy.
• Reduction of operation costs. Automation of data capturing minimizes human labor, streamlines the docflow, and results in lower operational costs.
• Acceleration of data processing. Automated data collection and processing boosts operational efficiency. If manual data entry for a specific doc volume requires several hours, intelligent solutions can complete the work within minutes. This means that saved time and human resources can be dedicated to other, more strategic tasks.
• Improves employee satisfaction. Large volumes of repetitive tasks may result in exhaustion, lack of concentration, and burnout and lead to errors. Automation of routine processes saves employees’ time and energy for strategic tasks and leads to higher productivity and satisfaction.
• Centralized data access. Automated solutions capture, process, and store information in a centralized database. Advanced solutions provide cloud storage with 24/7 availability — this flexibility in access to data is critical to make fast data-driven decisions, react to customer requests, etc.
• Analytics and reporting. Built-in analytical features ensure fast and accurate data analysis that is crucial for performance assessment and decision-making.
• Enhanced security. Reliable providers include security elements into their systems to help enterprises meet regulatory requirements.

Automating Data Capture with Graip.AI Platform

Graip.AI platform stands out in the highly competitive market of data capture solutions providers — the AI-driven platform combines the power of robotic process automation and self-learning capabilities.

– 100% recognition rate

– 140+ doc types

– Up to 1500% ROI

– 140+ languages

Intelligent solutions from Graip.AI help businesses to streamline and optimize the docflow and maximize the overall business potential. Automated document processing accelerates the docflow and boosts productivity. If you seek a technology to improve operational efficiency, Graip.AI platform is definitely the optimal solution for your enterprise.

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• Source: Plato Data Intelligence.