12 Best Data Extraction Tools to Simplify Your Business Processes

The rich data that retail, finance, social media, or any other industry generates contains valuable insights. To leverage the generated data, it must first be collected and then analyzed. The process of acquiring this data is called Data extraction.

The Internet is the major source of data these days. Websites, video streaming platforms, and social media feeds are rich sources of updated data but would remain inaccessible without data extraction techniques.

Here is a quick summary of the best data extraction tools I’ll be discussing below.

You can either extract the data manually or employ a data extraction tool. However, the use of data extraction tools is rising in reality.

Importance of Data Extraction Tools

Let’s see why the world is shifting from manually collecting data to automating data extraction using tools.

• No need to collect the data manually as these tools automate the process of data collection.
• The quality of data you get via data extraction tools is incredible. This will let you perform in-depth analysis and retrieve informational insights.
• Data extraction tools offer numerous integration options, allowing you to leverage various third-party software in your workflow.
• Data collection is faster with these tools as they automate repetitive tasks and streamline the workflow.  
• Data extraction tools are scalable, meaning they can collect and deal with huge amounts of data.

Data Extraction Tools use various techniques to streamline and automate the process of data collection.

A few of them are:

• Web Scraping: The tools employ web scraping to smoothly navigate over websites and collect data from multiple pages in a structured format. Web scrapping lets you decide what data to scrape and how much data to acquire and customize accordingly.
• APIs: Various modern applications and real-time platforms provide access to their data through APIs. Data extraction tools integrate well with these APIs and collect the necessary information.
• OCR Processing: Data extraction tools usually implement OCR technology to capture data from scanned documents and visuals. This technology recognizes the characters in the images and converts them into machine-readable text content.
• Scheduling Extraction: The tools allow you to set time intervals for automatic data collection, easing the process of extraction by reducing manual efforts.
• Integration with Workflow: Integrate data extraction tools into your workflow so that the gathered data can be directly transferred to the platforms where you’ll be putting it to use.

Impact of Data Extraction Tools on Productivity

Data extraction tools play a major role in enhancing the productivity of multiple factors in various use cases. For instance, manually collecting or entering data typically takes significant hours or even days to finish. However, automating these tasks using data extraction tools saves you time.

Moreover, you can integrate data extraction tools into many other software and applications so that you don’t need to manually export or transfer the data, resulting in a seamless data flow.

A good data extraction tool is always reliable and accurate, meaning you don’t need to often look back for errors and fix them. This will minimize human errors and enhance productivity.

Also, businesses deal with huge amounts of data every day. So, a scalable data extraction tool is perfect for dealing with growing data and improving the productivity of your business.

Here is our list of the best data extraction tools to scale your businesses.

Parsio

Extract anything you like on the Internet with Parsio, an AI-powered document parser. Not just a document parser but collects data from invoices, receipts, forms, business cards, and emails.

With this GPT-powered parser, you will never have to worry about extracting info from CVs, product descriptions, or human-written emails.

Firstly, import files for data extraction. You can do this by either manually uploading attachments or through APIs. Then, Parsio employs OCR technology and AI to automatically extract data from the documents.

Top Features

• Employs machine learning and OCR together to collect data from complex files.
• Easily parse human-written text and all other major unstructured docs with AI-powered OCR.
• A multi-language tool with support for Latin and European languages.
• No-code parsing templates to extract data from various document formats.
• The tool offers webhooks and APIs to easily integrate into other systems and export data.

With support for over 6000 integrations, export the data directly to any of your favorite platforms.

Bright Data

Bright Data is a scraping browser, and you wouldn’t be left unconvinced after using its browser API. This web data platform is highly scalable and powerful.

Websites are not big fans of bots. They set tough blocks for scraping tools to enter their space. However, Bright Data bypasses all such websites’ restrictions, unlocking the way to access the data.

Besides, the tool’s AI technology mimics real users and effectively outsmarts the website’s bot-detection system, opening the gates to valuable insights.

Top Features

• Run scraping projects on multiple browsers at scale.
• High website unlocking success rates compared to proxies.
• Compatible with Puppeteer (Node.js), Playwright (Python), and Selenium.
• The tool’s debugging feature integrates seamlessly with Chrome dev tools.

Your scraping efforts would be more successful since its debugging feature inspect and fine-tune your scraping code.

Parseur

Parseur is powerful data entry software that automates your data extraction workflow. With this tool, export the data to any of your favorite real-time applications in no time.

It’s very much customizable using pre-made templates and overall can be used for automating text extraction from emails, PDFs, and other documents.

Top Features

• Extract the data from PDFs, emails, tables, web pages, and spreadsheets.
• Employs Zonal and Dynamic OCRs to extract digital data and visuals.
• You can normalize the parsed data.
• Access your data from the cloud; no installation to your hardware is required.
• Offers advanced search filters and access to detailed logs.

You can create different templates to extract data from various types of documents, and the tool automatically picks the right layout, removing the need to create template routing rules.

AutoEntry

AutoEntry is a simple and quick automated data entry software for financial analysts, bookkeepers, and business owners.

Firstly, upload your documents to the tool and scan them; then, you can either manually place the documents in the right category or the software categorizes your files; now, processing begins once you click on the publish button.

Top Features

• Easy to use, simply snap, upload, or email documents to your software.
• Mobile version available to quickly scan and publish your data.
• Automates data entry of large batches of documents.
• You can teach the software rules to categorize your documents.
• Seamless integration with many top accounting software.

This flexible, best-in-class data entry solution automatically publishes your financial documents to accounting software, minimizing manual data entry efforts.

Docparserl

If you are looking for a simple document parser that employs advanced OCR technology and pattern recognition to extract data from your business docs, then docparser is the one for you.

Its simple three-step process includes uploading files to the software, training the doc parser to extract the content you need, and sending the info to any platform of your choice in any format.

Top Features

• You can create custom parsing rules to extract data of your choice.
• Advanced image processing options.
• It typically takes less than one minute for all three steps of importing, processing and exporting.
• Numerous built-in templates for various types of documents.
• Ability to read bar codes and QR codes.

Docparserl offers predefined templates for major business files, finance, and accounting docs, however, you can create a suitable one for your needs.

Email Parser

If you’re looking for an automation platform to automatically capture text from emails, consider using Email Parser.

Email Parser continuously monitors the connected email account and processes all the emails once they enter the inbox. It integrates well with many other applications and APIs.

Top Features

• Automatically captures text and sends it to your required format.
• Offers popular parsing techniques.
• Works with a wide variety of storage applications like Excel, Email, APIs, etc.,
• Available both as a Windows app and a web app.

Email Parser comes both as a web app and a Windows app. Its Windows app gives you full control over the email automation process, while its fully-featured web version runs seamlessly on the cloud.

UiPath

UiPath Document Understanding teaches robots to extract, interpret, and process data from PDFs, images, and handwritten text. The tool can handle documents of any layout, like forms, signatures, scanned copies, or checkboxes.

Top Features

• Automates document processing at scale.
• Drag-and-drop features to easily build document understanding bots.
• Improved accuracy with its AI-enabled systems.
• Its intelligent document processing improves operational efficiency.

Thanks to its in-built AI technology, the bots are powered with pre-trained ML models and RPA for accurate document processing.

SS&C CHORUS

The SS&C CHORUS document automation platform is a comprehensive solution with several features to extract data from even low-quality documents. Upload the files without stressing much; the tool will categorize and assign them to suitable templates.

Top Features

• Automated document identification.
• You can set custom thresholds for which data need more inspection and what content can be less valued or ignored.
• Enables data validation and enrichment with third-party providers.
• Customized exception handling.

It delivers digitized text for documents of machine prints, pen, pencil, ink, or cursive written texts.

DOCSUMO

Docsumo is a document AI to easily, efficiently, and accurately extract data from unstructured documents. Thanks to the tool’s easy and intuitive interface as it scales your team efficiency to 10X.

Top Features

• Comes with pre-trained APIs.
• Document auto detection and classification.
• Best for industries like supply and logistics, insurance, finance, and commercial real estate.
• Customize document workflows.
• You can train custom ML models for your dataset and monitor its performance.

Create rules to validate extracted data and draw key metrics for evaluation. Docsumo doesn’t leave you in the middle; it integrates the extracted and processed data well with storage systems.

Ocrolus

Ocrolus employs machine learning and AI to auto-classify all types of documents and data. The tool generates cleanly indexed and labeled documents.

Misclassified or imperfect documents are routed to unique and intelligent systems for quality checks and enhanced accuracy.

Top Features

• A combination of AI and humans lets the tool achieve ideal accuracy.
• The tool uses machine learning models to detect fraudulently altered documents.
• Ocrolus provides you with valuable insights regarding a browser’s business.
• Provides robust security and continuous auditing of your data.
• Detects file tampering, missing pages, and irregular formats.

Its algorithms are trained on over 100 million documents of different types for instant fraud detection.

ROSSUM

ROSSUM is the only intelligent document-processing software you will ever need! It is a fast and easy-to-use tool that can be used from anywhere, as it is built on the cloud.

Top Features

• Fast and accurate data extraction.
• No code is required! You can create custom automation with the tool’s low code interface.
• Built-in reporting dashboards that show key metrics and trends.
• Synchronization and real-time updates.
• Its data capture algorithm adopts human behavior and acts accordingly.

Automate extraction of any data from all types of document formats with ROSSUM. Whatever the business you own, whether it is accounts or logistics, retail or finance, the tool can accurately capture the data tailored to your needs.

Nanonets

Nanonets is an on-premise automated data extraction tool. Besides generic OCR technology, the software also uses artificial intelligence to understand semi-structured and unstructured data. Nanonets support various platforms to import and export data directly into the workflow.

Top Features

• Extract only the required fields from the documents.
• Continuous model learning from each processed document.
• Reduced turnaround time with its fast API response.
• Processes emails, forms, bank statements, and many other forms of unstructured data.

The tool learns each time a document is processed and improves the data capture accuracy of upcoming documents.

Conclusion

Incomplete or faulty data always leads to inaccurate results regardless of the quality of modeling techniques you implement. Therefore, leverage data extraction tools to acquire accurate information.

The above list of tools is some of the best extraction tools with various features. Some of them are great at automating data extraction, some are good at document processing, and there are tools that can handle a wide variety of data formats.

So, pick the one that’s tailored to your needs.

You may also explore some popular cloud-based web scraping Solutions.