Unstructured data—document text, voice, images, videos—accounts for almost 80 percent of an enterprise’s data and holds untapped value when it comes to addressing challenges and seizing opportunities. Extracting insights from unstructured data has been difficult because it involves laborious data analytics processes. But intelligent document understanding is changing this.
Intelligent document understanding solutions combine search and analytics with Natural Language Processing (NLP) and Machine Learning (ML) to automatically extract relevant information from unstructured data. Businesses can then access critical insights in real-time, saving significant time and resources that would’ve been required to manually search through massive data. The benefits include:
- Improve compliance and risk management
- Increase operational efficiencies
- Enhance business processes through automation