Transform Unstructured Data with Rackspace Intelligent Document Processing
By Sam Myoung, Senior Product Manager, Data & AI, Rackspace Technology
As technologies like AI and machine learning increasingly come online, we’re able to do more with structured data than ever before. Spreadsheets and databases are the cornerstone of structured data analytics applications. But what about unstructured data? For too long, it’s been lurking in the corner, a symbol of uncertainty and unrealized value — until now.
Intelligent Document Processing (IDP) helps businesses turn unstructured data into structured data and gain valuable data insights. IDP relies on the use of artificial Intelligent (AI) and machine learning techniques to analyze, interpret, and extract insights from data. It enables the automation of data analytics and decision-making processes to increase efficiency and accuracy.
An IDP solution helps make documents, images and other files searchable. So, what type of documents and images are we talking about here? Think employee records, medical records, insurance claims, invoices, purchase orders, audio recordings, videos and similar documentation.
IDP helps you:
- Reduce and optimize costs by operationalizing document processing workflows
- Scale easily to process large volumes of documents
- Increase efficiency, deliver consistent results and reduce tedious manual tasks
- Address compliance needs while improving governance and security
IDP is used across industries to improve data efficiency and accuracy. Banks use predictive analytics to review mortgage applications and identify potential applicants. Hospitals use IDP to extract patient information from admission forms. HR departments can quickly scan and process job applications while flagging key information for closer review.
Recently, we helped a performance materials manufacturer extract product and price information from scanned invoices using Amazon Textract. By automating the extraction of this data, we reached an accuracy rating of 85% while generating a cost savings of $125,000 per year. Below is a closer look at the technologies and processes we enlisted for this project.
In another scenario, we helped a healthcare software services company design and deploy a custom IDP solution. Using ML-based Amazon Textract and Amazon Comprehend natural language processing custom classification, we developed a solution designed to classify incoming faxes. With the associated document type, we helped the customer streamline access, communications and workflows across provider communities, delivering data and insights that improved patient outcomes. The solution helped reduce operating cost by greater than 50%.
Get ahead of the curve with Rackspace Intelligent Document Processing
By making document and image data searchable, IDP can provide descriptive analytics to show what has happened over a given period.
Say you own an enterprise software company. You are looking to understand customer behavior and preferences, as well as anticipate future trends. IDP can provide the predictive analytics to help you understand how your customers are using your software, and how to best meet their needs.
For example, you can examine customer usage patterns to identify the most popular features and some others that are more popular than you would have thought. This can help you refine and customize existing features, as well as identify opportunities to develop additional features that customers might find useful.
Predictive analytics can also help you understand your customers’ preferences in different markets so you can tailor offerings regionally.
Rackspace Intelligent Document Processing offers a suite of features such as an accelerator built with the AWS platform, automated classification and human-in-the-loop frameworks, integration with existing systems, end-to-end automation, visualization and reporting, and alerts and monitoring. Here are some key features of the Rackspace Intelligent Document Processing Accelerator:
- Custom IP built with the AWS platform to process, and prepare documents to be searchable content
- Fully customizable and configurable with AWS: Built on AWS cloud infrastructure
Rackspace Intelligent Document Processing provides access to the following features:
- Automated classification and human-in-the-loop frameworks: Increase data quality (with Amazon Textract and Amazon Comprehend) to 98% or higher
- Integration with existing systems: Highly flexible and customizable solution that plugs into your existing systems seamlessly
- End-to-end automation: Workflows designed to automatically process your document types
- Visualization and reporting: Easily interpret metrics related to your documents
- Alerts and monitoring: Create and manage custom alerts and monitoring using AWS tools and Rackspace Technology services
From day one, our solution offers you significant advantages by providing exact solutions leveraging cloud native. We assess your current situation, identify your pain points and map each data source online. We then quickly deploy projects with our AI/ML engineers, using a framework that can be deployed in just a few days.
Rackspace Technology® provides the talent and tools to save time and effort, cutting costs and streamlining the entire data process with alerts and monitoring features that increase visibility and transparency.
Rackspace Intelligent Document Processing can help businesses like yours become more efficient and make better decisions. Leveraging predictive analytics, automated classification, and end-to-end automation, you can proactively adjust your go-to-market strategy.
How Rackspace Object Storage Solves Your Multicloud Unstructured Data Storage Challenges
May 26th, 2023
Rackspace SDDC Solutions Overcomes Business Challenges on the Journey to Modernization
May 16th, 2023
How can Microsoft Azure spur innovation? FAQ Session
May 12th, 2023