OCR Business & Finance Abbreviation

Optical Character Recognition

Optical character recognition, usually abbreviated to OCR, is the mechanical or electronic conversion of scanned or photographed images of typewritten or printed text into machine-encoded/computer-readable text. It is widely used as a form of data entry from some sort of original paper data source, whether passport documents, invoices, bank statement, receipts, business card, mail, or any number of printed records. It is a common method of digitizing printed texts so that they can be electronically edited, searched, stored more compactly, displayed on-line, and used in machine processes such as machine translation, text-to-speech, key data extraction and text mining. OCR is a field of research in pattern recognition, artificial intelligence and computer vision.