Category: Data entry

Electronic document and records management solutions – best practices

Digital document management solutions are really crucial for any organization as it helps them to convert, keep and distribute a wide range of documents within a defined set of connections. By this, the work load for corporate managers is minimized owing to least dependency on paper. Actually, a considerable amount of time is saved that would have else been dedicated for paper files distribution, location and organization.

document-management

Systems for document management range in scope and size. There is in fact a long list of document management systems. Though document management is used independently, it is a common element in intranets. However, intranet in this context is not that effective. Some of the prime reasons are risks for errors, lack of swiftness, paper wastage, data derivation inability, duplicated effort etc.

DMS implementation- Key points to remember

Rules for efficiently managing data management systems have been same ever since they were developed. Even amid all these technological advancements, it is a fact that the practices that were considered best during 80’s still hold relevance.

If underlying points are kept in mind while implementing DMS, you would obtain more productivity and thus great results.

Capture wide assortment of files

An ideal DMS is the one which is capable of capturing different file types. Decision makers must ensure that the concerned system can recognize pictures from printing tools and scanned documents. In addition to the said, they should also verify whether the vendor is providing OCR capabilities which can identify texts in documents. There are vendors who offer mark recognition for capturing values in the check boxes. Data management solutions supporting fewer file types should be avoided. So, rely only on those document management companies who deliver up-to-date technologies.

Consider all probable legal issues

Managers normally don’t consider legalities related to documents captured by systems seriously. However, issues from this can pave way for a lot of future disputes including strict penalties. For staying safe from such costly mistakes, managers must review rules detailed by AIIM, ARMA and similar other organizations.  It is not feasible for managers to review complete rulings and therefore such entities must avail legal assistance whenever needed. At the same time, managers must review rules in case of conflicting situations.

Spot and store metadata automatically

As and when a file is captured by DMS, it should spot and store metadata of the concerned document. Metadata, in fact is a heading which provides a small explanation about the file captured. By this employees can retrieve the required information with ease by searching based on keywords included in metadata. Most of the modern systems have OCR which detects metadata in scanned images automatically. In addition to the said, administrators can even prompt users to furnish descriptive keywords for allowing workers to search needed documents.

Policies should be implemented for trust building

Trust is very important when it comes to elevating the comfort and confidence level of the concerned, especially when it comes to the management of sensitive documents. With the increasing popularity of electronic documents, it has become mandatory for managers to acquaint workers with legal polices and ways to deal with critical data. By implementing such policies, trust is built automatically within an organization and allows employees to perfectly decide when to get help.  In most of the cases managers create a disclaimer and make it to pop-up before a DMS is opened. It is obviously a good practice but the truth is that employees never read the policies. Doing so can be helpful in regard of legal proceedings but hardships will still be there. So, the better idea is to add few lines in simple English to assist employees in using right judgement and making right decision when confused. Expert companies offering best document management solutions always keep this in mind.

Storage capacity should be reviewed

A DMS can store huge volume of data and hence reviewing the storage capacity on a periodic basis is important.  Managers should make decisions regarding what to store and what to archive. Also, some files have to be destroyed. Periodic reviews thus help companies to organize their database and the way a vendor execute review processes serve as a decisive factor in determining the quality of electronic document and records management solutions. With modern DMS, users can make a hierarchy by allocating priority parameters for all documents thus allowing them to categorize them easily.

Security and distribution is vital

As per law, DMS users must understand that strict laws regulate document distribution; original files must not be distributed.  As an alternative, quality and validation endorsed applications must be used for circulating copies of original because only original documents can be accepted in court. Copies should be certified to assure their acceptable as alterative to the original. Additional security measures can be implemented by making content read-only; for that PDF can be used.

Necessary training must be provided

Most of the times, managers ignore imperativeness of providing adequate training to their workers for utilizing various automated functions that are rooted in a DMS. Even most reputed companies stay reluctant when it comes to training. This leads to a great platform with no one efficient to use it properly. Experts in the industry who are indulged in availing document management services opine that improper or inadequate training is the main reason leading to the failure of large scale DMS implementation.

Records linking to business procedures

The actual purpose of any document management is to rationalize business processes by making available access to the needed file, as and when required. Before a solution like the said is implemented, managers must be able to connect the record types to a specific business process. It will be very difficult for users to relate certain file to a particular task if such relationships are not defined.

If the above detailed document management tips are considered with needed reverence, efficiency can be ensured. A lot of companies are there who can assist you; rely on the right one and focus solely on your core business functionalities.

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Data Mining- Some real life applications

Data mining services from experts have huge benefits for your business. The significance of data analytics is growing incessantly and companies are in never ending quest of its applications. Let us have a glance on some of the most important among them.

Data mining services
Data mining services

How data mining applications assist mobile phone service providers

They use data mining techniques to foresee churning. ‘Churn’ is a term they use to indicate the action of a customer leaving them and purchasing from another service provider. They organise billing info, buyer services communications, visits to the website and several other metrics to allocate each buyer a probability score. Based on this, they try to retain those with more churning risk via offers and incentives etc.

How data mining applications assist retail business

In retail sector also, they use these services. Retailers classify their customers into three different groups- Recency, Frequency, and Monetary (RFM). Marketing as well as promotion strategies are applied to allthose groups specifically. A customer spending little but productive time will be dealt in a different manner to that of a new customer. The latter may receive something like a win-back deal whereas the former may be offered upsell, cross-sell or loyalty offers, for instance.

How data mining applications assist eCommerce companies

Cross-selling and upselling techniques play a vital role in the success of any ecommerce website. The companies understand customer behaviour on their website and through web research and analytic techniques determine the offers to be provided for different type of customers. Amazon is one of the prominent companies that use really sophisticated techniques for the same.

Read more about Great hubs where professional data miners should peek into

How data mining applications assist supermarkets

The loyalty card plans work well as far as the supermarkets are concerned. They use this to collect complete information about their customers. Based on the purchasing trends, accurate predictions can be made and promotions can be done accordingly.

How data mining applications assist crime agencies

Web research services are not just confined to corporate applications but there are various other scenarios where it plays a significant role. Crime detection and prevention agencies across the world seek these services to spot different trends via crowds of data. By this they can understand where to deploy more police manpower and which vehicles to search etc.

How data mining applications assist sales and marketing

Data mining is important for businesses as it deals with the analysis of data over a period of time. Thus, by assessing the history of transactions and other details, companies can launch fresh marketing campaigns successfully. Here are some illustrations of data mining applications in sales/marketing.

  • Market basket analysis requires this process to dig out information regarding the products that were bought in a set, or combinations, along with the sequence of the purchase. On knowing the products, entrepreneurs can boost up the promotional strategies to optimize their profit. Moreover, the customers do not overlook products or miss them out when they are purchased in groups, further enhancing the shopping experience.
  • The behaviour and buying patterns of customers have to be understood by retail companies.

Data Mining applications in the banking and finance sector

  • It has assisted the process of detecting fraud card. Research is done through various techniques like distributed research, developed specially for the purpose.
  • Techniques of research involve assessing the frequency at which a customer purchases a product, total value of all the goods purchases and the last time he purchases the good. Thus, the companies can get an idea about the customer loyalty. Each customer has a relative measure, and a higher score indicates more loyalty to the company.
  • This process is needed to retain customers who shop using credit cards. On assessing the data history, the companies are able to predict and identify the customers who are likely to alter their affiliations of credit cards. They try to retain these customers by launching various offers.
  • Through this process, the companies can also get an idea about the credit card spending across various customer groups. This can be of immense help in framing sales and marketing strategies ahead.
  • This process can also reveal the hidden interrelation between the financial indicators.
  • Identification of stock trading rules becomes easier through research.

How data mining applications help in health care and insurance

The insurance industry is dependent on data mining, as its growth hinges on the ability to obtain knowledge form data, information related to competitors and customers and the market. Although this process has been applied in this industry quite lately, companies which have incorporated it successfully have obtained optimum benefit. Some of the prominent data mining applications in healthcare and insurance are as follows:

  • In claims analysis, it helps to identify the medical procedures that people tend to claim together.
  • Through this process, the companies are able to identify the customers likely to buy new policies.
  • The behaviour of risky customers can be detected by the companies using this system
  • It assists in detecting fraudulent behaviour as well.

How data mining applications help in transportation

There are significant data mining applications in transportation.Analysis of loading patterns and determination of distribution schedules among various outlets and warehouses become easy through this system.

  • It helps determine the distribution schedules among warehouses and outlets and analyse loading patterns.

How data mining applications are used in medicine

  • The frequency of visits of a patient can be assessed to predict future visits.
  • It also enables to assess the medical therapy patterns that have been successful, in the case of different illnesses.

Above mentioned are just the most relevant among data mining applications in medicine. In fact, there are a lot more.

How to choose a data mining system?

The following factors should rule the choice of research systems. This will defiantly help you to choose a good data mining system amid many.

  • Data Types– There are various categories of data like recorded data, formatted text and relational data. Besides, they can be in the form of data warehouse data, relational database data or ASCII text. One needs to check out the format that the mining system is compatible with.
  • System Issues–The mining system has go well with the operating systems. A particular system may be compatible with a single operating system or more. Some systems allow to input XML data and provide web-based interfaces for users.
  • Data Sources–The data sources indicate the formats for the operation of the system. In some cases, only ASCII text files maysuitable, while the others may go well with multiple relational sources. The system should support OLE DB for ODBC connections or ODBC connections.
  • Data Mining methodologies and functions–Certain systems provide a single function, like classification. Others have multiple functions like discovery-oriented OLAP analysis, concept description, linkage analysis, association miming, classification, statistical analysis, clustering, prediction, similarity analysis, outlier analysis and so on.
  • Combining with data warehouse systems or databases− The systems have to be combination with a data warehousing system or database. These combined components are placed in a favorable environment for the processing of uniform information. The different categories of coupling are listed here:
    • Tight Coupling
    • Semi tight Coupling
    • No coupling
    • Loose coupling
  • Scalability–There are two scalability issues
  • Row (Database size) Scalability–On enlarging the number of rows ten times, the system is said to be row scalable. 10 times enlargement is enough for a query.
  • Column (Dimension) Saleability–If the time to execute the mining query has a linear increment with the number of columns, the system is said to be column scalable.
  • Visualization Tools–The different types of visualizations are:
    • Visual data excavating
    • Mining procedure visualization
    • Mining Results Visualization
    • Data Visualization
  • Graphical user interface and query language− A user friendly graphical user interface is needed to help user-guided process in an interactive manner. These systems do not share the query language, unlike relational database systems.

Trends

The development of different concepts is still on the process, and the latest trends in the field include:

  • Methods that are scalable and interactive
  • Application Exploration
  • Standardization of query language for the process
  • Integrating with different systems like database data warehouse, and web database
  • Innovative methods to deal with mining complex data.
  • Biological Research
  • Visual Research
  • Web Research
  • Multi database mining.
  • Security of information and privacy protection
  • Distributed mining

Different applications for various industries are continuously being developed in order to cater them with hidden knowledge to increase the growth and efficiency of business.

In fact the applications of these are seamless and there are lot of professional web research service providers offering it. To get expected results, hire the best ones in the industry.

Still confused in hiring best data mining service provider? Then choose PGBS’s for your data mining services requirement to help your organization to make better business decisions and achieve improved sales .