J-P De Clerck will give a presentation on extracting value from diverse information sources. He analyzes emerging information formats and how to provide value to mobile decision makers. The 2020 Vision webinar series, co-developed by InfoDesk and Dow Jones, educates professionals on information workflow. Sean Smith from InfoDesk can provide more details. De Clerck will discuss how only 4% of businesses extract full value from information due to information chaos from high volume, velocity and variety of data. He will explore how to harness information's value by focusing on purpose, users and outcomes rather than volume alone. Artificial intelligence can help make sense of diverse unstructured data and prioritize high-value opportunities for real-time
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From the End of Information Chaos to Contextual Knowledge
1.
2. About the Speaker
J-P De Clerck is a digital transformation and
information analyst. He will explore the rich diversity
of existing and emerging information sources and
formats, the ways to extract value from them and
how to offer that value to the increasingly mobile
and connected decision makerâtoday and in the
future. To learn more about J-P, visit the i-SCOOP
website.
About the 2020 Vision Series
The 2020 Vision webinar series is part of the
âVisionaries Wantedâ educational program co-
developed by InfoDesk and Dow Jones for
information and knowledge management
professionals, IT leaders, senior digital information
strategists and other professionals responsible for
business information workflow within their
organizations. For more information contact
sean.smith@infodesk.com.
Speaker J-P De Clerck
5. The hidden gems of information in
transformation
"Only 4% of businesses can extract full value
from their information." (PwC, 2015)
6. Setting the scene
The information landscape has dramatically changed
⢠Volume
The accelerating growth of data, content and information.
⢠Velocity
The accelerating speed at which data is generated and needs processing.
⢠Variety
More types, sources and formats of information than ever before.
⢠Value
Information is a key business asset, value generator and economic good as such.
Challenge and opportunity
Less than 0.5% of all data is ever analyzed and used.
7. CHANGE: WHEN HISTORY REPEATS ITSELF
"The product is
information. Those
who use
information most
effectively, control
wealth."
Gerry McGovern in "The
Caring Economy", 1999
"Information is one
of your most
valuable assets. Do
you value or
manage it like
one?"
Douglas Laney on
Infonomics, 2009
"Leaders in
information
transformation
must treat data as
they would any
asset."
Serge Findling , information
in DX, 2015
8. CHANGE AND HISTORY: HAVE WE LEARNED?
⢠68% of businesses plans to undertake an organizational transformation, only a small
fraction have fully digitized their content-centric business processes (Forrester Consulting,
2016).
⢠50% of organizations expect to have all digital content within the next two years, yet only
14% said their organizationâs collective content is virtually all digital today (Forrester
Consulting, 2016).
⢠Manual and fragmented processes impede employee momentum: scattered content
(49%) and lack of contextual information (47%) are key pain points (Forrester Consulting, 2016).
⢠Two-thirds of North American and European business is unable to extract value from
their information. 23% derives no benefit, 43% obtains little tangible benefit (PwC, 2015).
⢠By 2020 the digital universe will reach 44 trillion gigabytes, a tenfold increase over 2013.
However, most organizations are still at the beginning of their journey to extract value
from information. (IDC, 2015).
10. Setting the scene: disruption diversity
ECM and information management have been disrupted
⢠Organizations not ready to cope with increasing volumes and diversity of data
⢠Lack of clear plan on leveraging full value hidden within information we have (access to).
⢠ECM forced to move from systems of records to systems of engagement to systems of insight.
⢠Information hoarding mentality stood and stands in the way of a focus on what matters most.
⢠Consumerization disrupted the centralized view of ECM and information management practice.
⢠Solutions and the industry are not ready to deal with reality of cloud and "mobile ability".
⢠ECM has not crossed over into the technology mainstream.
⢠The speed of the consumer and digital transformation outpaces speed of information
capabilities and business.
⢠Legacy ECM left behind and not agile enough: shift from information to purpose/context.
⢠Information management disrupted by new ways of working.
⢠No ability to enable the next stage of the extended enterprise.
11. Setting the scene: disruption diversity
ECM and information management have been disrupted
ECM has not crossed over into the technology mainstream
12. The real goal isnât managing the information, it is harnessing the value of
information to control it and use it to better serve our customers and
improve our business processes and decisions.
Unprecedented information creation and consumption
+
Disruption at the edges, outpacing the speed of business
+
Lack of ability to adapt and pro-dapt
13. 4 core problems on the enterprise level (AIIM)
Information chaos
14. Information chaos
An enterprise perspective
How can we use all this information
we have but underuse and
poorly manage to achieve desired
outcomes from the perspective
of engaging those at the edge:
knowledge workers, customers, partners?
01. Engagement
15. Information chaos
An enterprise perspective
How can we leverage all that information
to automate, improve and holistically
speed up business processes?
02. Automation
16. Information chaos
An enterprise perspective
Given all the information we have,
collect and can still digitize or
acquire in this exponentially growing
landscape, how do we acquire
what matters? How do we combine
it to gain insights and
actionable knowledge?
03. Insights
17. Information chaos
An enterprise perspective
How do we deal with the inevitable risks
that come with ever larger volumes
of content and information,
which on top of that is also becoming
more complex than before?
04. Risk
4 information
chaos problems
18. Information chaos
The enterprise reality in practice
⢠From Process workers â âQuit making us enter the same information in five different
spreadsheets.â
⢠From Knowledge workers â âWeâre drowning in information but thirsty for knowledge.â
⢠From Security officers â âInformation is leaking out of the organization at every turn.â
⢠From Records managers and lawyers â âThe volume of information that is beyond our ability to
control is increasing business risk and exposure.â
⢠From IT people â âWe canât keep up with the demands of the business and they are working
around us rather than with us.â
⢠From Line of Business People â âProductivity is declining because of our inability to automate
our core processes.â
⢠From the C-Suite â âWe are spending so much effort just keeping the lights on that I am afraid
we will miss the next wave of technology and be left behind.â
Interview John Mancini (AIIM) - http://www.i-scoop.eu/digital-transformation-information-opportunity
19.
20. Information chaos
The business content and knowledge perspective
"We are overwhelmed by sharply increasing volumes of content that is created on every possible
topic as businesses keep putting out more content."
The question, on top of the overload:
How do I find the best possible answers for my individual task, query and purpose.
⢠Most accurate
⢠Most relevant
⢠Most contextual
⢠Most timely
⢠Most trustworthy
Investors and anyone in need of business information
to make important financial decisions wonder if they
have the right, most accurate and very latest information
sources and data to win.
79% of information users look for free information on the
Internet (McKinsey)
21. Information chaos
The content consumer (all of us) perspective
"I am unable to consume all content.
My brain capacity is limited".
Mark Schaefer: http://www.businessesgrow.com/2014/01/06/content-shock
22. Information chaos
The content consumer (all of us) perspective
"There is too much content.
I am in shock".
Mark Schaefer: http://www.businessesgrow.com/2014/01/06/content-shock
23. The real goal isnât managing the information, it is harnessing the value of
information to control it and use it to better serve our customers and
improve our business processes and decisions.
IS IT REALLY ABOUT VOLUME?
IS IT REALLY ABOUT HUMAN CAPACITY
IS THERE REALLY A CONTENT SHOCK?
24. Information chaos
Volume should never be the problem
⢠No one wants to "consume all content".
⢠Consumers nor knowledge workers nor decision makers care about volume.
⢠It is perfectly possible to analyze large sets of data and information.
⢠Curation and aggregation of knowledge is not new.
⢠Technologies to turn volume into value are widely available.
⢠It's not about big data but about smart, small, fast and actionable data.
There is noise in data, business information and content.
Semantics, context, relevance and curation matter.
25. Information chaos
Then what is the problem?
⢠In content marketing: a lack of focus on intent and too much focus on quantity and distribution.
⢠In information management: lack of focus on a unified information strategy, driven by purpose.
⢠An undervaluation of the context of and experiences sought by 'content consumers'.
⢠Silos and gaps: between 1) perceptions regarding information maturity and realities, and 2)
awareness about the value of information and the actual valuation by taking actions.
⢠People. Not enough focus on the intersection of information, processes and most of all people.
⢠Culture, DNA and lack of agility, with an ongoing dominance of centralized inside-out views.
⢠Access. Content is not where the value sits. Access to content and information is the key.
Without a clear purpose and integration of information sources to serve the end user,
information doesn't lead to tangible competitive benefits.
26. Solving the challenges
Seeking value in information chaos: the real challenges
⢠It's not about volume. It's what you and/or your business want to achieve.
⢠It's what users, workers, customers and partners expect from you.
⢠It's about speed as a competitive differentiator and knowledge as the key to timely decisions.
⢠It's about integrating and connecting (no silos) and the value that you can generate.
Analytics and technologies to capture, analyse, contextualize, connect and offer access to actionable intelligence
fast are key. Artificial intelligence aims to augment human knowledge. People remain the differentiators, both in
a context of 1) purpose and of 2) decision making.
"Information is the oil of the 21st century and analytics is
the combustion engine" (Peter Sondergaard, Gartner).
27. Turning challenges into opportunities
"Where information is concerned, the rate of growth in
the opportunities appears to be outstripping the ability of
organizations to capture them". (Claire Reid, PwC).
28. From challenge to opportunity
Information diversity: unstructured data
⢠Majority of the data businesses have.
⢠Not tapped into enough yet.
⢠Fastest growing type of data.
⢠When unlocked and integrated with processes, ample
benefits:
⢠Speed of process, high contextual value
⢠Customer experience
⢠Adding a "why" to the "how" of big data
⢠Extracting meaning to translate patterns.
Needs artificial intelligence: machine learning, cognitive, content analytics.
⢠Social feedback and messages
⢠Sensor-generated data
⢠Files: Word, audio, email,...
⢠Weblogs
⢠Images
⢠.....
Crunching numbers is easy, adding meaning (what, how
and why) is where the seeds of value get planted and
what is missed becomes visible.
29. From challenge to opportunity
Information diversity: content analytics - AI as the solution
"The need for information in the right place, to the right person, in the right context is the prism through which
we need to view content analytics."
Drivers and benefits:
⢠Contextual search and curation
⢠Business insight
⢠Process Automation
⢠Adding value to legacy content
⢠Sentiment analysis, threat patterns, text mining, looking for meaning.
⢠When we add analysis to recognition, we can match up content
with rules and policies, detect unusual behavior and spot patterns and trends
Rules-based analytics are limited by the way they are designed
and directed. Rules-based analytics are not set up to deal with the
volume and variety of data available.
Making sense of unstructured data in practice
⢠Contact centers and end-to-end customer
experience.
⢠Insurance claims processing.
⢠Healthcare and medical files.
⢠Wealth management.
Ask for examples: info@i-scoop.be
30. From challenge to opportunity
Prioritization in data acquisition (and beyond)
Focus on the opportunities instead of the volumes, regardless of types or sources of data/information.
Targeting the highest value or target-rich data:
⢠Easy to access: how easy can it be obtained. Also: is offering access highly valuable?
⢠Available in real-time: can it drive real-time decisions and actions?
⢠Footprint: can analysis impact many people such as customers or large parts of the business
ecosystem?
⢠Transformative: can it, when properly analyzed and acted upon, change society or your business
in an impactful meaningful way?
⢠Intersection synergy: does the data have more than one of these attributes?
At 1.5% of the total, target- rich data is a much more
manageable area of discovery (IDC, The digital universe of
opportunities).
31. From challenge to opportunity
The challenge of speed: real-time economy, just-in-time supply chains
⢠.
32. Don't become part of the misguided majority
76 percent of business say that they are either
constrained by legacy, culture, regulatory data issues or
miss an understanding of the potential value held by their
information.
As they don't see the benefits and commercial gains that
can be made they don't invest in ways to seize the
information advantage or try to unlock the value value of
the information they hold. (PwC, 2015).
Towards information maturity
THE DIFFERENCE BETWEEN DISRUPTION AND DISRUPTED
34. From challenge to opportunity
Towards information maturity
Mastering the full information value chain and getting the right information to the right system, process and
user at the right time for the right purpose.
⢠Start with the end in mind: purpose, desired outcomes, users and context.
⢠Focus on creating actionable information: inventorize, complete, analyze, aggregate, act.
⢠Where does the information sit? What information are we missing? Where, why and how does it need to be
available? How do we get there?
⢠Remember the basics of business - ignoring them is the key cause of failure each time again.
⢠Remove the major obstacle of information silos.
⢠People first. Automation will not solve everything, nor will artificial intelligence.
⢠Never design around the system. Design around the business and user need.
35. Don't become part of the misguided majority
Towards information maturity
The best way to predict the future is to create it.
36. The true meaning of hyper-connectivity
Hyper-connectedness is a knowledge opportunity
⢠The value of data lies not just in its purpose but also in the missed opportunies of underutilizing
it and most of all in the integration and interconnectedness with people, processes, purpose,
context and devices.
⢠Compare: the Internet of Things versus the Internet of Everything
⢠Data is instrinsically dumb. Big data as such is meaningless
⢠Devices are intrinsically dumb. Connecting them - the Internet of Things - as such is meaningless.
⢠The Internet of Everything: data and information in an age of hyper-connectivity and an Internet
of people, devices, processes and connections that make sense for a purpose: APIs, algorithms
and analysis close to the source.
Hyper-connectivity is not about networks or devices. It's
about connecting people and meaning for a purpose. We
connect knowledge.
37. Outlook 2020
Towards the hybrid, personalized and highly contextual future of information
⢠Device- and channel-agnostic, new devices and formats.
⢠Disruptive experiences for a demanding user.
⢠Hyper-personalization: APIs + recommendation engines.
⢠Self-learning systems and bots.
⢠Platform economy, everything-as-a-service
⢠A hybrid human and automated information and decision matrix (e.g. robo-advisors).
⢠Hyper-contextual and hyper-connected.
⢠Smarter search (from search to find to receive in real-time and based upon self-learning intelligence)
⢠New ways of increasing relevance, push and pull.
⢠Combining traditional sources and analysis of unstructured data (from social data to IoT-generated data).
⢠A universal dashboard: wisdom and action.
The Top New Investment Areas Through 2017 Will Be Contextual Understanding and Automated Next Best Action Capabilities
UBIQUITY
38. The importance of the human knowledge factor
⢠Knowledge and content aggregation: the premium of manual selection and context of the librarian.
⢠Authentic thinking, innovation and thought leadership content - there is no app for that.
⢠Managing and dispersing knowledge when and where it sits will remain important.
⢠You need curators and human insight to sift through an ocean of noise.
⢠Each opinion, knowledge interpretation, data insight is by definition subjective.
⢠Be the best answer.
⢠Data needs creativity.
⢠Robots cannot replace human emotion, culture, background and subconsciousness.
From challenge to opportunity
39. The human meaning of data
The rate of change of pretty much everything in
modern day life seems to be increasing.
However, we, the human beings in this equation, are
the governing factor
http://www.i-scoop.eu/digital-transformation-fast-data-customer-adaptive-business/
40. Information is the lifeblood of relationships
The thing that really causes disruption is
the change in power and balance when shifts
in value happen between individuals,
between companies, between customers,
within companies and inside ecosystems and the value chain.
http://www.i-scoop.eu/charlene-li-an-interview-on-leadership-and-digital-transformation/