Enterprise Content Management (ECM)
As we start to think about #AIIM15, I thought I would ask a number of our sponsors a few identical questions in order to get an understanding of how they see the future of our industry -- and let those of you attending start to think about your own questions to ask them in San Diego. Here are the three questions I'll ask:
- What are the three biggest challenges you see your customers facing while trying to “Embrace the Chaos”?
- What do you see as the three most important trends related to Information Management facing organizations over the next 18-24 months? What will be different in our industry two years from now?
- What are the three most important things attendees should know about your company?
Mark Werner, Senior Vice President of Product Management and R&D at Axis Technical Group, says businesses can make better decisions if they could extract useful data from their unstructured content.
What are the three biggest challenges you see your customers facing while trying to “Embrace the Chaos”?
Unstructured data denotes to information that either does not have a well-defined or organized data model. Unstructured information is characteristically text-heavy, but may contain data such as amounts, percentage's, dates, numbers, and facts as well, for example: contracts terms, loan amounts, and terms, correspondences, proposals, legal descriptions, vesting information, etc. Some experts estimate that up to 80 percent of the data in any organization is unstructured. Moreover, the amount of this data in enterprises is growing substantially, often many times faster than structured databases are growing.
In many organizations, the unstructured data includes information that could assist them in making better decisions and in many cases, it is critical to the business process. Just imagine how much content has been created just in the mortgage industry. For every property, there are literally dozens of pages describing each location. Unfortunately, it is often very difficult to analyze and extract this unstructured data as it is typically highly variable in nature.
This challenge for document management solutions has created a market for data entry shops to analyze, classify, index, and store this information into a more structured database-driven DMS solutions. With offshoring offering reasonable price-effective solutions, many companies have settled as this to be the only practical solution. However, is this the most affordable, scalable, secure, and flexible option?
So, we see our customers faced with these three challenges:
- How do we extract data from our unstructured content
- How can we analyze this data
- Once we have the data, how are we going to store and search it? In some cases, our clients have tens of millions of documents to organize. In one case, Billions!
Some forward-thinking organizations have turned to the few software solutions available specifically designed to search unstructured data and extract relevant content, but how much success have they seen, and where are the big wins?
During AIIM 2015, the Axis Technical Group will facilitate a discussion around the challenges and invite our guests to share their experiences addressing and solving this critical topic in regards to information management.
What do you see as the three most important trends related to Information Management facing organizations over the next 18-24 months? What will be different in our industry two years from now?
- Mobile access to content. It won’t be optional; it’ll be mandatory.
- The Cloud still has a way to go, but it’s moving in the right direction. Information security will be a huge part of the challenging, trusting your host to secure corporate information.
- How companies control social. Everyone wants it; nobody knows how to govern it.
Two years from now, the industry will know Axis as the “Unstructured Capture Company.”
What are the three most important things attendees should know about your company?
Axis Technical Group is a trusted business IT advisor to leading companies in the mortgage, title, healthcare, oil and gas, and financial services industries, and provides the industry-leading Axis AI solution for advanced data extraction. The global Axis team provides the sophisticated skills and resources of a global consulting firm with a personal, solution-oriented approach.
Axis was founded in 2002 to fulfill a need in the industry that was not being met. While similar firms operate from a “one size fits all” attitude, our main focus is and has always been, tailoring business and IT solutions to the specific goals and needs of each client we engage. It’s not just about the technology – it’s what it can do for your business.
For the past 12 years, Axis has a track record of success by building and implementing IT and business strategies for companies of all sizes. This success is achieved either by utilizing our own technology product offerings or by building custom solutions specifically tailored to the client’s needs and desires. From strategy to design, development, implementation, and management, Axis’ team of business and IT professionals has the right solution for your business.
