The lack of a predefined data model makes it extremely difficult to access and process quantitative and qualitative information for decision making.
Depending on the industry, it is estimated that each organization today has between one and 12 million gigabytes of data. In addition, most of these data (between 80-90%) are not structured or are poorly organized in a network of e-mails, paper documents, network units, among others. For this reason, data management is one of the biggest challenges facing professionals today.
Unstructured data represent 90% of tasks performed on a typical work day, including phone calls and emails, but the lack of a predefined data model makes it tough to access and process the quantitative and qualitative information required to make fast decisions.
By the year 2020, It is estimated that the unstructured data will outperform the structured data by 9 times. The increased size and growth of the data present significant obstacles for organizations in terms of operational efficiency, responsiveness to customers and profitable growth.
Big Data plays a vital role
Big Data plays a critical role in business decision-making processes, providing complete information on consumer behavior. For that reason, decisions are increasingly based on these data, such as investment in social media marketing.
In a McKinsey study, 64% of executives surveyed confirmed that Big Data changed the way they make decisions. In fact, Organizations that infuse their operations with Big Data analysis are estimated to generate productivity gains and profits 5-6% higher than competitors.
Through digitization in business, organizations can expect to benefit from greater synergies. In addition, effective data analysis is critical to gaining insight into business data, such as specific areas of improvement within the various business functions.
The Digital Transformation allows companies to obtain greater benefits and gains a competitive advantage in the market, through the knowledge that can gain from a quick analysis of their data and the improvements of the back office.
According to IDC, more and more organizations are incorporating 3rd Platform technologies such as Big Data and mobility to facilitate more productive and meaningful ways of interacting with customers and assisting with compliance in the case of regulated industries.
Given the challenges of today’s business environment, web capture offers significant opportunities for changing growth. The ability to scan documents anytime, anywhere, and across all devices increases efficiency and productivity by reducing the time spent locating and analyzing information.
Capturing through a browser does not require substantial investments in staff training. A simple but effective “exploration button” can be incorporated into Business Line software, allowing documents and information to be scanned directly into the organization’s network.
Therefore, employees have more time to concentrate on their work or customers, rather than on paperwork. This can lead to greater customer and employee satisfaction, which in turn leads to increased loyalty.