Lexalytics Data Extraction Services Enables Hybrid Analysis of Both Structured and Unstructured Data from Corporate Documents
Lexalytics, a provider of “words-first” machine learning and artificial intelligence, announced the launch of Lexalytics Data Extraction Services, the first data extraction software and services that combine Lexalytics’ industry-leading, AI-based natural language processing (NLP) technologies with the ability to classify both structured and unstructured content to gain more insights and value from corporate documents. Lexalytics Data Extraction Services says it significantly reduces the time and labor costs of document data analysis and extraction, while improving the accuracy and insights available within the data.
While there are companies that currently offer software capable of “scraping” documents like PDFs and Microsoft Word files containing structured data in tables like dates, billing codes, payment timeframes, support requirements, subscription details, reaction ratios, and statistical tests, many documents are a hybrid containing not just that structured content, but also free, unstructured text.
Traditionally, analysts in the fields of law, market research, insurance, healthcare, real estate, financial services, and others have lacked an effective way of melding the structured and unstructured data from their documents into a coherent database to properly access, view, and analyze it all in one place. Lexalytics Data Extraction Services leverages its Salience text analytics engine to provide greater insights and automatically organize data into a format that includes features such as summarization, sentiment analysis, intentions, named entity extraction, categories, and themes.
Moreover, Lexalytics can go beyond just extraction and categorization. Lexalytics’ understanding of the underlying text through AI-based NLP allows it to analyze the newly-structured data, and do things such as create an intelligent recommendation system to help physicians prescribe the right treatments and give staff content-rich details about where a particular treatment code is applicable, when it’s reimbursable and how to bill for it.
Lexalytics Data Extraction Services can analyze and structure documents from virtually any format, including PDF, TXT, XML, HTML, and Word, and then export it into standard ERP systems and Excel.
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