The Star Trek franchise of films and TV series, watched by millions around the world, pioneered warp speed spaceships such as the USS Enterprise, as well as themes such as Artificial Intelligence (AI). They even featured a humanoid character called Lieutenant Commander ‘Data’.
In your ‘enterprise’, a digital transformation journey can be impeded by data, specifically the unstructured type, which can include a variety of ‘alien’ formats, such as hand-written text, signatures, images, and so on.
To paraphrase what Dr. McCoy might say to Captain James Kirk, “It’s data Jim, but not as we know it.”
So, to get your transformation journey to warp 10 speed, your enterprise needs to be able to capture, curate and digitise this unstructured data. Any other approach could be what Mr Spock might describe as ‘highly illogical’.
What enterprises need is a ‘secret weapon’ ready to be deployed – Cognitive Machine Reading (CMR) – which can singlehandedly overcome the challenges of capturing and digitising unstructured data.
Set Phasers to ‘Stun’
CMR effectively addresses the serious shortcomings of OCR (Optical Character Recognition). In fact, when it comes to a face-to-face stand-off with OCR, CMR sets the phasers to ‘stun’.
It recognises patterns in data using Machine Vision, Machine Learning and Natural Language Modelling algorithms to localise and contextualise data. And CMR, with its Image Enhancer module, has the ability to enhance the quality of an image or document, giving enterprises like yours the ability to extract clean and complete data – effectively filling the 85 percent unstructured data ‘black hole’.
CMR uses advanced pattern-based data search techniques, a superior approach compared with OCR. It enables you to leverage the untapped and unstructured data found inside your enterprise, automating deeper processes.
Vulcan Mind Meld
A superior capture rate means you can achieve 80 percent accuracy in consistently capturing content and boost the level of data certainty to achieve a higher percentage of straight-through processing.
And, like a ‘Vulcan Mind Meld’, CMR continually learns your processes and facilitates ongoing optimisation.
is highly scalable: vastly improves your business case and long-term ROI due to lower number of exceptions resulting from cleaner data
has a Business Rules layer to input different business rules through an intuitive user interface
is elastic enough to integrate with existing workflows and downstream systems through configurable APIs
has multilingual capabilities
features flexible installation models: on-premise or cloud-based
incorporates robust security- in-built credential vault and integration with industry-standard CyberArk
Explore New Galaxies
So, what type of enterprises are exploring new galaxies using data capture on their digital transformation journey?
Scoot is a low-cost carrier airline wholly owned by Singapore Airlines. Drivers behind its digital transformation journey included enhancing customer experience and improving operational efficiency and workforce engagement. The airline faced the challenge of processing invoices to be more sustainable and effective. With the implementation of CMR, it was able to realise 85 percent accuracy in its conversion rates.
City Union Bank (CUB), one of India’s largest public sector banking and ﬁnancial services companies, was adding 200 new customers each month across each of its 650 branches. Any delay in customer veriﬁcation information led to delays in account opening, resulting in a potential business loss. CMR was able to ingest unstructured data in any format, contextualise it and convert it into structured data, all on a single stand-alone platform. The bank achieved 100% compliance adherence in processing its government mandated cKYC (central Know-Your-Customer) checks.
The Final Frontier
In setting a course ‘from the bridge’, Captain Kirk would be impressed with CMR’s data stability and certainty. CMR has in-built confidence scoring, which means any high scoring data that is extracted can be passed immediately for straight-through processing.
Looking to navigate your way through unstructured data? Find out how CMR can help your enterprise reach the ‘final frontier’.