I downloaded Droid Scan Lite because I was hoping to scan a bunch of business cards and add the contact data to my phone's contact database, but I can't figure out how to do that. Is it possible?
Yes. You need one additional piece of (free) software: "Google Goggles," published by Google, Inc. Once you install Goggles and accept the license agreement*, a new option will appear on the "Share JPEG via" menu in the Droid Scan scan viewer screen: "Goggles."
To add a scanned business card to the contacts database, select this option and wait a second while Goggles analyzes the scan. If there is clean and readable text on the business card, Goggles will present a "Text" option beneath the image which you should click on to add the business card to your contacts. You can also dial a phone number directly from this screen, which may be more convenient in some cases.
*If you try to use Goggles directly from Droid Scan without first running Goggles and accepting the license agreement, it may never finish analyzing your scan.