Data Extraction through Intelligent Character Recognition ICR Software
As the world is moving towards digitization, businesses have to deal with huge data bundles. The data that is in the hard form either typed or handwritten needs to be digitized for fast processing.
Data processing and data manipulation is a tough task if the data is no digitized or computerized form. Hence, organizations are thriving to adopt more reliable means to convert hard data into a soft form, to save time and resources on data processing.
Optical Character Recognition (OCR) provides the ease of converting typed either from typewriter or computer documents into a soft form. The Optical Character Recognition OCR technology was giving the best results on structured and semi-structured typewritten documents, but when it comes to unstructured and handwritten data the OCR was not reliable. To combat that problem Intelligent Character Recognition (ICR) software was introduced.
Also Read: AutoCAD for Students
Intelligent Character Recognition ICR Software
The extended technology of Optical Character Recognition empowered with Artificial Intelligence and Machine Learning. It gives accurate results on various fonts and handwriting styles is called Intelligent Character Recognition ICR Software. The thing that makes ICR technology more efficient is the learning of new handwritten patterns with the help of AI and ML algorithms.
The online Intelligent Character Recognition ICR is well recognized by businesses because of solid and accurate results. Legal development, separation, agreement, method enhancement, archival and maintenance, and a host of other features and utilization all can now leverage handwritten data to not simply lessen the jeopardy to the business, but additionally, produce new possibilities that may have never been recognized in the past. Here are some cases
Constrained and Unconstrained Data
The data that is present in fields in the case of typewritten documents is called constrained data. To fetch constrained data was an easy task for OCR technology but when digitizing unconstrained data OCR technology was accurate. Unconstrained data contains irregular and unsaturated data from typewritten to handwritten documents.
Sometimes the important information is in the form of handwritten patterns that may be cursive in styling. ICR multiplies human capacity while archiving data from cursive handwritten patterns. The recognition of cursive handwritten documents was not well delivered by the manual process because of non-standard and abnormal writing styles. ICR services can precisely recognize and fetch data from cursive handwritten documents.
Financial Institutions like banks need to verify cheque signatures on a daily basis. The verification of the signatures is a very sensitive task because a wrong verification can cause a shady transaction. An account holder can lose their money just due to the wrong identification of signatures. ICR intelligent character recognition can identify and verify signatures in no time.
ICR can locate one or multiple signatures on the documents and can compare them with the previously stored data.
Intelligent Character Recognition v/s Optical Character Recognition
Both ICR and OCR are used in the modern world for data fetching. ICR is best while extracting data from handwritten documents and OCR is producing accurate results while extracting data from typewritten documents. OCR is a vast technology but with the limited ability on complicated fonts while ICR is a subset of OCR but with more focus on handwritten and complex data. The main difference between the two is that ICR can learn new patterns and become more mature while OCR can’t learn new algorithms.
It depends on the requirements of the business. Intelligent Character Recognition (ICR) Software is an expensive service and large organization that can’t compromise on security and results can avail ICR services while an organization that can’t spend enough on data extraction but can compromise on accuracy should opt for OCR services
Summing It Up
Intelligent Character Recognition software can extract data from thousands of documents in just no time thus saving time for organizations in data extraction. ICR scans documents from about every language written in any script. Data processing will become more convenient by using ICR solutions. Intelligent Character Recognition (ICR) Software can be availed by every organization from online financial institutions to health sectors. This will fasten the organizational process with errorless results minimizing the manual intrusion.