Driving Value in Content Services with Smart Capture
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This presentation examines the 4 Elements of Content Value, and presents how to use them to make Box, SharePoint, Dropbox, Google Drive and OneDrive content more valuable. It explores how document unstructured content can be exposed through machine learning and OCR to produce great value.
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Driving Value in Content Services with Smart Capture
- 1. Webinar: Driving Value in Content Services with Smart Capture Stephen Boals VP, Business Development
- 2. “Naked” Content is Expensive “Poor data can cost businesses 20%–35% of their operating revenue.” Bad data or poor data quality costs US businesses $600 billion annually. Fathom – Big Data Statistics
- 4. Inbound, Sourced and Existing Organization Boundary
- 5. How do we fix it? ? Contract Date: 2/3/2017 Customer: Jaco Expiration: 2/3/2020
- 8. Building Blocks • Each layer is dependent on the one below • Value builds with each higher layer • Core technology can provide all layers • Exponential effect • Overarching theme is unstructured to structured process • Requires supervised machine learning and analytics engine
- 10. The Value of Full Text Search • Big Ocean Search • All document content is accessible • PDF Image+Text (Content Suitcase) • Portable format • Required for other elements
- 12. What is Classification? • Identification of document/content type • Not just text matching • Requires supervised ML and analytics engine • Multi-dimensional (No text only)
- 13. What is the Value? • Provides separation • For “scan the stack” • Bundled PDFs or TIFFs • Auto-sorting • Once classified, rules can be applied • Automated routing • Extraction • Business rules
- 15. Data About the Document • Works with Classification • Extracted document info • Specific to that document type • Key “catalyst” • Content Services enabler
- 16. What is the Value? • Drives efficiency and automation • Eliminate manual data entry • Reduces clerical headcount • Metadata search • Catalyst for all • Workflow Intelligence • Security • Governance & Compliance • Reporting
- 18. What is Correlation? • Relationships between documents • Digital “bread crumbs” • Metadata linking across document types
- 19. What is the Value? • Eliminates nested searches • Speed of analysis • Visual relationships • Reduction in headcount
- 20. 4 Elements: Expand and Infiltrate ERP Workflow CRM Analytics
- 21. Chaos Order Enlightenment Transact Insight
- 22. Demo
- 23. More Information Video of this presentation: Driving Value in Content Services with Smart Capture Blog Post: 4 Elements of Content Value Box Smart Capture: Box Scanning & OCR Solutions SharePoint Smart Capture: SharePoint Scanning, Capture and OCR Salesforce OCR: OCR, Capture and Scanning for Salesforce Smart Capture APIs: OCR APIs for Workflow
Hinweis der Redaktion
- Thanks for joining us today. If you aren’t familiar with us, we provide technology that unlocks unstructured document content, and makes that data accessible and actionable to the Enterpise. The focus of this webinar is how organizations can drive value from their document content. We will explore the 4 elements of Content Value, and show how to leverage it. Lets go ahead and get started.
- Its estimated that nearly 80% of the data out there is unstructured and inaccessible. When it comes to an organizations documents, naked content, or those documents missing the elements of value we’ll cover in a minute, is expensive. When is the last time you couldn’t find a key document, or searched for one for over 10 minutes? Missing, poor or bad data has an immense impact on efficiency and productivity. Take alook at these stats from Fathom…the impact is real and painful.
- Today’s organizations deal with a sea of dark content on a daily basis. The average Enterpise has no less than 10 document repositories. With document spread across numerous locations and technologies, both on prem and in the cloud, and the advent of technologies like Box, Dropbox and OneDrive, end users struggle with leveraging the true value of content.
- A prime challenge is that document creation never stops. On a daily basis, they are received via email, mobile devices, fax, mail and uploads. Internally users and systems create new content through their daily effforts, scanning and interaction with systems. Pile this on top of the pre-existing content, content acquired through mergers and acquisitions, and the problem continues to multiply. To create a solution, a “smart layer” that interprets document content, and exposes value on inbound documents, those created by systems and users and pre-existing documents is required.
- When we put in that “smart layer” or catalyst, it makes every document searchable, classifies the type, extracts pertinent and important data, and then correlates the data and document to other, existing documentation. This information is all made available to other systems, and enhances their value as well.
- We call these the 4 Elements of Document Content Value. To truly drive maxiumum efficiency and productivity around document-centric process, technology must be available to create searchable content, classify those documents, extract important data and create correlation to other existing documents.
- When we look at this elemental stack, we start at the bottom, and there we have native, unprocessed documents. As we proceed up the stack, processing gets more complicated and more involved, and each layer is dependent on the one below. For example, to properly extract metadata, you need to know what the document is. For example, once I know the document is a contract, I can extract the correct data of interest, like parties, date, etc. Similarly, with proper metadata, I can now create relationships and correlate linked documents. Without all 4 layers, processed in sequence, value is lost, and max value cannot be achieved.
- A key concept I want to reinforce is that these elements are building blocks, and each layer relies on all the underlying layers. With each step up the chain, value increases, and starts to grow exponentially. It is critical that for continuity and speed, a single core technology or catalyst engine, process content step by step. And a key overarching principle is the conversion of unstaructured data to structured information. Plain text mining or an OCR process alone cannot leverage true value, and today, supervised machine learning with analytics is key to quick deployment, and maximizing value.
- So lets dive into each of the elements, one by one, and examine their value. First, and lowest in the value stack is Searchability. To create a searchable entity, document content has to go through a normalization and conversion process to standardize the output. The end result is a consumable format that can be utilized by humans and machines alike.
- Full text search capability is the most basic, fundamental value a “smart capture” layer can provide. Being able to find that needle in a haystack throughout your sea of content provides great value. All of the content services platofrms on the market have text indexing engines, and when provided a searchable document format, you have broad reaching search capabilities of the full text content. Today, the most common searchable format is the PDF image + text, which is really a suitcase for a pristine unchanged snapshot of the document in image form, and a hidden text layer for searchability. As the P in its acronym ddenotes, this Portable format is easily recognized and searcble in just about any system. One note here: searchability also extends to machines, and this notion is typically missed. Modern smart layer technologies also create a machine readable fingerprint, usually in XML, in parallel with a PDF. This machine directed content can be kept for future initiatives, and consumed by systems for other needs, including enabling higher value element exposure, and is the foundation for our next 3 elements.
- Next in the stack is Classification. In the tech world, this can mean different things, so lets define classificiation and what it means in the value stack.
- In the smart capture world, we use classification to define the type of document. Classification engines discriminate between drivers licenses, applications and passports, and do auto-sorting. I want to be clear, many legacy capture applications do classification by text pattern matching. This method leads to poor accuracy and misclassification, and can cause huge headaches. Modern, smart capture engines use simple supervised machine learning that can be conducted by administrators and end users alike. Just drop a document into a learning folder and boom, you are done. How does this work? Not going too techy, but the applications examine the page just like a human would, and analyze words, patterns, locations, font face and more to create a digital fingerprint ID for document types.
- Tied to classification is one of the most important concepts in smart capture, and a huge efficiency driver: separation. If I handed you a stack of 30 documents, and told youu to sort them, you inherently know when one document ends and another begins. With classificiationn and separation, the machine performs this effort. It can rip apart digital documents that are bundled sets, or allow you to scan a big stack of disparate documents and do all the heavy lifting. Beyond the obvious benefits and value of classification, once identified, documents can now be auto-named, routed to their end resting place, or have business rules applied based on requirements. Examples are: Specific Security rules on typeps of documents Routing of documents to different departments OR Kicking off workflows when a certain type of document arrives. Most importantly, classification enables document type specific data extractiion or rules…which we cover next.
- As one of the most important value elements, metadata, or data about the data, is the most common missing or incomplete piece of the puzzle.
- This value componennet works hand in hand with classification, and encompasses pertinent and important information. It is specific to that document type, and uses extraction rules to provide a deep understanding of the content. It is one of the keys to enabling efficiency and productivity, and greatly enables other technologies that manage content. The majority of content services platforms can receive a document and metadata.
- The value of this specific element initially is the elimination of manual data entry and a reduction in clerical requirements. In addition, the speed and efficiency of processing leads to rapid turnaround time on critical business documents. with metadata added, granular search can now be performed. The biggest benefit here, is that content and its associated data are now open for all types of workflow, access and governance, and this layer of data is a catalyst that exposes dark content for business system use and automation.
- As we rise to the top of the stack, we have correlation, which can provide immesnse power to any organization.
- So, just what is correlation. It’s the ability to automatically establish a relationship between documents across document types, based on specific metadata. An example would be a bank that wants to see all documents tied to a name, email or account. Correlation creates and maintains the digital breadcrumb trail that shows all these related entities. Modern systems will create this automatically, and do it through multiple dimensions of metadata.
- So where is the value? Without correlation or a tool to visualize it, analysts, auditors or knowledge works have to perform a series of nested searches to attempt to find the documents in a chain. There is now simple way to save this set of searches, and they typically have to be conducted over and over. Imagine to power of entering and ID number and having all the associated document and data relationships presented in a single view. This unified correlation view, also known as mind mapping, can present simple, visiual relationships, and allow for faster search, analysis and overall results with fewer people.
- So, that is a quick overview of the 4 elements, and when they aare put to broad use in an organization through smart capture, they permeate not only the initial systems they touch, but their effect expands and infitrates every system in the organization. Workflows become smarter with this added layer, ERP and CRM systems now have additional information and broad elemental value can enhance and extend analytics and reporting.
- So, how do we expose these elements and end the document content chaos? Ephesoft provides this catalyst technology in our smart capture and analytics engine, that is exposed through two core products, Transact and Insight. Lets dig in and see how they work.