Leveraging Automation + Machine Learning for Data Extraction

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Leveraging Automation + Machine Learning for Data Extraction

Despite the recent growth and popularity, automation and machine learning are not new concepts. In fact, they have been around for decades. The 1990s marks a time of significant advancement in Artificial Intelligence (AI) and business process automation. Long before the new wave of Robotic Process Automation (RPA) term was coined, computer programmers wrote and utilized their fair share of automation scripts. As technology advanced and continues to evolve, process automation and machine learning is no longer reserved for ‘only’ the computer programmers within an organization. New and easy-to-use software tools that support task and process automation now allow organizations to more widely unlock the full business benefits of this advanced technology such as recognizing patterns, extracting pertinent data, and making informed decisions.

The volume of data, both structured and unstructured, currently collected by businesses is so massive that many already struggle to extract and make sense of such vast information efficiently.

Leveraging automation and machine learning for data extraction allows your business to efficiently isolate the vital information or the indicator within the chaos needed for a competitive advantage in today’s marketplace.

Machine learning utilizes algorithms and neural network models to assist computer systems in progressively improving their performance. Some of the ways leveraging automated machine learning give your business an advantage are:

Eliminating Manual Data Extraction and Entry – The amount of time it would take to extract data from a database, or any unstructured environment manually then structure it in a format that is suitable to your specific needs in and of itself would be extensive. You also run the risk of data entry errors. Thus, automating data extraction and data entry avoids mistakes and saves valuable staff-hours. Inaccurate data is one of the most significant problems faced by businesses today. Machine learning makes these processes better by using the discovered data to take specific actions while also suggesting new insights and actions. 

Customer Lifetime Value Prediction – Customer lifetime value is the metric that leading companies use to understand their customers’ purchasing habits. Machine learning can assist businesses in accurately predicting customer behaviors, purchasing patterns, and help in making smart marketing decisions based on customer data like browsing and purchasing histories. This reduces the cost and the amount of time invested in managing customer relationships while reducing customer churn.

Competitive advantage – Data curation and analytics are changing the way businesses compete. Leading companies take advantage of insights hidden in their data to reach consumers quickly with a product or service the consumer desires. By leveraging machine learning their decision making is more accurate and timely. Businesses that are not on the cutting edge of this technology will be at a distinct disadvantage in today’s data driven markets.

Companies looking to gain an advantage through automation and machine learning but don’t have an advanced data analytics process in place should consider outsourcing their data extraction needs with Liberty Source as a partner. Liberty Source has the infrastructure and experience needed to leverage automated machine learning to help your business stay ahead. We will tailor a solution to meet your specific needs – harmonizing our workforce with the right technology. Our highly skilled staff is eager to help you get the most out of the data your business holds.

Hybrid Service Delivery: Safeguard your Bottom-line During a Pandemic

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Hybrid Service Delivery: Safeguard your Bottom-line During a Pandemic

The severity of the coronavirus (COVID-19) pandemic is becoming painfully obvious to many organizations around the world. The lasting global economic impact that this crisis will have remains to be seen yet has already changed the way we live and work. This past week, in particular, has changed the very way that businesses operate and has forced them to re-think contingency plans. Unfortunately, not all enterprises have the ability to switch to a work from home model, especially in an offshore business service delivery model. The established business continuity practices of moving operations from one center to another located thousands of miles away aren’t enough to satisfy today’s operating demands. The impacts of COVID-19 are felt globally and despite the resulting economic slow-down, work must continue.

One can often point to economic circumstances, seasonality of your business, or other external factors affecting your market position, however even in times of economic downturn, your talent, including outsourced talent is what will make you stand out above your competitors and help you to overcome the downturns faster than others. During an unprecedented circumstance such as COVID-19, having both an onshore and offshore operating model with partners who understand this, and stand ready to face all challenges with you, ensures peace of mind and safeguards your bottom-line during a pandemic.

When we look at enterprises that align to a hybrid delivery strategy, we begin to uncover their ability to maintain capability and productivity despite the circumstance. However, knowing what to look for can be quite a challenge.

As you undoubtedly will begin to question and design life after COVID-19, it’s vital to understand the attributes of an onshore service delivery partner that are necessary to safeguard your bottom-line during a pandemic. While we can’t predict what the world will look like in a few months, here are a few points to consider:

Dedication to the health and well-being of all employees
The way your partner treats their employees will have a direct effect on how well those same employees approach the work they’ve been assigned as well as how they treat your consumers and business stakeholders.

Ability to meet client needs while executing onshore BCP
You must understand how much downtime your partner will need to activate their chosen BCP. The resulting will be a direct hit to your operating capacity and your bottom line.

Top-tier remote technology infrastructure
In a world where we must act quickly and pivot often we must all have a responsive technology platform. Our ability to pivot quickly and ensure continuity of service will depend greatly on our ability to stand up remote access on the fly.

Flexibility and experience with dispersed teams
Most operating centers are governed by boots on the ground. Leaders feel they need to physically see each employee in order to believe the employee is being productive. The effects of COVID-19 and work from home mandates are going to truly test this philosophy. Some leaders will make it through and adjust their approach. Others will fail and experience great attrition after this has passed.

Resilience in a time of world panic
Now is the time when your best leaders and partners will rise to the top. Those you can rely on will be steadfast and strong. They will listen to your fears, understand your needs and create a plan to help you through. Most importantly they will provide hope that your operations can withstand the test of time.

Liberty Source