EDD: Issues, Law, and Solutions: Unlocking Paper Based Intelligence with Disruptive Technology

Wednesday, June 6, 2012

Unlocking Paper Based Intelligence with Disruptive Technology

"You want your documents to be searchable - not laughably searchable . . . " John Martin

When confronted with massive amounts of unstructured data and the need to access the business intelligence locked inside that data the options before today were expensive, required massive human intervention, were extremely time consuming and most troubling, very ineffective. John Martin loves disruptive technology. I love how John Martin thinks.

John's latest game changing software BeyondRecognition is being referred to as a "Big Data innovator" by several of the " Big Four" accounting firms. The tool was originally built for a company that needed to extract key information from a 30+ year old scanned paper document set of 2.3 BILLION pages for a due diligence effort. In the energy sector, Beyond Recognition's glyph clustering technology makes it possible to search for symbols

used on maps to indicate things like radioactive wells, salt-water wells or API number codes.

As a result of this disruptive new technology Martin notes , "We're seeing a great deal of interest in this approach in the mortgage and energy sectors. The mortgage industry in particular typically has a relatively finite number of documents in loan files supporting the loan decisions, with definable types of data being of interest on each type of document. Our process could greatly lower the cost of tracking all those data elements during loan initiation, or to quality control the file for audit or sale purposes."

Essentially BeyondRecognition's unique character, word and document attribute recognition and extraction capabilities for analyzing image-based documents. In Plain english BR allows clients to extract very valuable business intelligence from scanned and digitized files fast, accurately and in a cost-efficient manner. In a press release Barbara Johnson, CFA, former executive of USAA Federal Savings Bank, serving as Chief Credit Officer and Senior Vice President of Real Estate Lending Services and now a Principal with Saccadent, a Financial Consulting firm, has reviewed the clustering and data extraction capabilities and offered the comment that, "In today's environment the ability to extract, utilize and match data across a variety of documents is incredibly powerful. This type of technology offers the promise of significantly decreasing the time and cost to process a thoroughly compliant loan from application through origination, audit, sale and servicing. An automated system to confirm all the critical items match throughout the process and are in the appropriate format and location on all documents would be invaluable. Lending is a document-rich industry and the time is perfect for this type of technology."

Another intriguing aspect is that BR solution is language agnostic automatically recognizing 40+ languages interspersed throughout any data set with no up-front programming required and performs at 99.5% word accuracy on first pass unassisted review. The solution can scale to meet customer requirements between 500k - 50m pages per day regardless of the legibility of the images. In fact using BR Adaptive Image Enhancement techniques restorion of poor quality document images to much improved legibility is a seemless byproduct

For additional information or to request a demo contact John Martin at John AT beyond recognition DOT net

or Michael Mulcahy at Michael@focusdata-mgt.com or by phone at 562 546-2465

No comments:

Post a Comment

Sedona Principles 2nd ed.

1. Electronically stored information is potentially discoverable under Fed. R. Civ. P. 34 or its state equivalents. Organizations must properly preserve electronically stored information that can reasonably be anticipated to be relevant to litigation.
2. When balancing the cost, burden, and need for electronically stored information, courts and parties should apply the proportionality standard embodied in Fed. R. Civ. P. 26(b)(2)(C) and its state equivalents, which require consideration of the technological feasibility and realistic costs of preserving, retrieving, reviewing, and producing electronically stored information, as well as the nature of the litigation and the amount in controversy.
3. Parties should confer early in discovery regarding the preservation and production of electronically stored information when these matters are at issue in the litigation and seek to agree on the scope of each party’s rights and responsibilities.
4. Discovery requests for electronically stored information should be as clear as possible, while responses and objections to discovery should disclose the scope and limits of the production.
5. The obligation to preserve electronically stored information requires reasonable and good faith efforts to retain information that may be relevant to pending or threatened litigation. However, it is unreasonable to expect parties to take every conceivable step to preserve all potentially relevant electronically stored information.
6. Responding parties are best situated to evaluate the procedures, methodologies, and technologies appropriate for preserving and producing their own electronically stored information.
7. The requesting party has the burden on a motion to compel to show that the responding party’s steps to preserve and produce relevant electronically stored information were inadequate.
8. The primary source of electronically stored information for production should be active data and information. Resort to disaster recovery backup tapes and other sources of electronically stored information that are not reasonably accessible requires the requesting party to demonstrate need and relevance that outweigh the costs and burdens of retrieving and processing the electronically stored information from such sources, including the disruption of business and information management activities.
9. Absent a showing of special need and relevance, a responding party should not be required to preserve, review, or produce deleted, shadowed, fragmented, or residual electronically stored information.
10. A responding party should follow reasonable procedures to protect privileges and objections in connection with the production of electronically stored information.
11. A responding party may satisfy its good faith obligation to preserve and produce relevant electronically stored information by using electronic tools and processes, such as data sampling, searching, or the use of selection criteria, to identify data reasonably likely to contain relevant information.
12. Absent party agreement or court order specifying the form or forms of production, production should be made in the form or forms in which the information is ordinarily maintained or in a reasonably usable form, taking into account the need to produce reasonably accessible metadata that will enable the receiving party to have the same ability to access, search, and display the information as the producing party where appropriate or necessary in light of the nature of the information and the needs of the case.
13. Absent a specific objection, party agreement or court order, the reasonable costs of retrieving and reviewing electronically stored information should be borne by the responding party, unless the information sought is not reasonably available to the responding party in the ordinary course of business. If the information sought is not reasonably available to the responding party in the ordinary course of business, then, absent special circumstances, the costs of retrieving and reviewing such electronic information may be shared by or shifted to the requesting party.
14. Sanctions, including spoliation ﬁndings, should be considered by the court only if it finds that there was a clear duty to preserve, a culpable failure to preserve and produce relevant electronically stored information, and a reasonable probability that the loss of the evidence has materially prejudiced the adverse party.
Copyright © 2007 The Sedona Conference®. All Rights Reserved.
Reprinted courtesy of The Sedona Conference®.
Go to http://www.thesedonaconference.org/ to download a free copy of the complete document for your personal use only.