With advancements in technology and the big data trend, machine learning has become more and more popular in the business world. Machine learning utilizes data mining principles and makes correlations to learn and apply new algorithms for higher accuracy. Quite often, this type of artificial intelligence is used for data extraction purposes in order to collect and organize large sets of data quickly and more efficiently.
So How Does Machine Learning Optimize Data Extraction?
Machine learning holds a lot of potential in the business world because of its ability to evolve. Each algorithm written searches for the relationship between the input and output of data. As large sets of data are put into the algorithms it starts to identify and make revisions to “learn” and increase the accuracy of the output. Similar to how practice makes perfect, machine learning algorithms are constantly working to improve.
Data can be extracted from any physical or digital format. Complex machine algorithms read data from the documents to search for specific terms in order to identify and extract data. For example, utility bill management often utilizes trend data in order to better manage and optimize total consumption of utilities in order to increase cost effectiveness. Once the data is extracted, it goes through multiple validation checks to ensure accuracy and then is normalized to produce a streamlined set of data.
ARDEM’s Machine Learning Platform
What are two things outsourcing and AI have in common? – The ability to scale up production and increase performance.
Hiring data scientists and programmers can become quite expensive in-house which is why businesses choose to outsource data extraction related processes. ARDEM’s Machine Learning platform is built on our 15 years of outsourcing data experience to provide complex algorithms that ensure high data quality for data entry and document processing.
The largest benefit ARDEM’s Machine Learning platform has over manual data extraction is the ability to cut down on time – this provides data to be utilized while still relevant in order to gain a competitive edge. Additionally, cutting down on time also reduces the total overall operational costs of business. Internal resources such as staffing or budgets can now be spent on more core business functions to boost growth.
Contact ARDEM today to find out more on how our machine learning platform can boost your business growth!