Consistently, new technologies are introduced to increase business effectiveness and automatic business processes with improved insight are such an advancement. Thanks to scripted, rule-based workflows, content entry has gotten a whole lot easier.
Think about simple data with simple data entry. It is unrecognized and it has no meaning. When it’s captured, the process to understanding has begun.
The data can then be classified so it turns into information where important components are identified, and that can be used in transactions. When complete, data has transformed into information and then knowledge for the organization to improve their understanding.
As demonstrated in the chart below, the process of data being captured to becoming understood knowledge, leads you through the transformation from Enterprise Content Management to Customer Experience Management. This means that you are taking the information from a company view and understanding how it will be utilized to benefit customers and their needs—which drives customer loyalty.
As another example, social media is data and companies are able to discover useful information to help maintain relationships and business partnerships—providing power to see concerns, complements, as well as feedback.
Using this methodology—Intelligent Document Understanding—will make your business more competitive.