Home Technology ICR Software: The Best Solution to Complex and Unstructured Data

ICR Software: The Best Solution to Complex and Unstructured Data

As the world is moving towards digital platforms for data processing, the need for some reliable character recognition software that can help in data extraction increases. Because intelligent character recognition software saves time, money and eliminates manual interruption, it is becoming an essential need for any business. 

Why ICR Software?

In the past, the data extraction on documents was done manually by office employees but that was a costly and time-consuming task. OCR solves this problem by extracting data from documents in seconds. However, in the case of handwritten and complex documents, OCR’s ability to extract data is limited. OCR was originally designed to read black text from printed white background documents. So in order to facilitate handwritten and unstructured documents and extracting key fields from documents ICR services can help.

What is ICR and How it is Different from OCR?

ICR Intelligent Character Recognition is the modern form of OCR (Optical Character Recognition). ICR was designed to understand complex handwritten documents that an OCR can’t. While OCR only extracts data from hand-printed documents, ICR can extract data from handwritten documents of different handwritten styles and fonts. OCR can’t get more detailed data of a document while ICR can extract more detailed data. ICR improves the accuracy and recognition levels of the OCR. OCR is a vast technology but has limited ability to extract data contrary to ICR which is a limited technology but has vast ability to extract data from documents.

Multiple steps include extracting and structuring the information from documents. The first one is to precisely analyze the type of document so that the system can easily extract the father name, DOB, and address, OCR without advanced AI can’t extract data from that. OCR needs a document that is properly aligned and well-oriented. ICR software can itself align and reorient the image and can easily extract data from that. Blurred and distorted images that are taken from low-quality cameras or webcams of desktops or laptops can raise the difficulty level for OCR. As discussed before, character recognition software is not good with unstructured documents or pictures containing holograms, watermarks, or printed on shining surfaces. Data on a document that is not structured or has specific ID types can be extracted more accurately through ICR rather than OCR.  benefits of using ICR include time-saving, accuracy and productivity improvement, better customer satisfaction, and compliance. It also gives more attention to the details present in a document. ICR software will become more and more mature and produce more accurate results as it gets itself trained on new and complex data sets.  

How ICR Works?

ICR is trained on thousands of data sets containing documents from different languages with different handwritten styles and fonts. ICR uses AI (Artificial Intelligence) and ML (Machine Learning) and neural network algorithms to train itself on data sets. As ML helps the software to train and test on data, ICR uses this technique to train itself to give more mature and accurate results. ICR converts the extracted data to MRZ (Machine Readable Zone) so that the machine can understand and verify the results. 

Consent verification is the best use case of ICR. Opening an account in a bank or online financial website are applications of ICR.

It is done in the following steps:

  • The user is asked to upload his ID document and ICR extracts his name, DOB, and address from it
  • The user shows his handwritten consent i.e. I want to open an account in this bank
  • Then the extracted data is verified and the results will be sent to host

The data extracted through ICR software is more effective and can be further used to train intelligent character recognition software to get more accurate results in the future.

Conclusion

ICR is the need of such companies having huge structure, semi-structured and unstructured data bundles that need to be processed daily. Its need will arise in the future when ICR software will become more mature. ICR services will be a very useful technology for companies that use long-term investment plans because it will cut costs in the longer run.

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