Data and analytics have redefined the way we compete. Data is a critical corporate asset that organizations are starting to monetize in new ways to get ahead of their competition. The bottom line? Companies that leverage data to drive the performance of their organization’s decisions are winning at a faster rate than their competition.
Last year, Gartner created quite a stir by retiring the “Big Data” Hype Cycle from its popular “Hype” curve series. According to Betsy Burton at Gartner, “We’ve retired the big data hype cycle. I know some clients may be really surprised by that because the big data hype cycle was a really important one for many years. But what’s happening is that big data has quickly moved over the Peak of Inflated Expectations and has become prevalent in our lives across many hype cycles. So big data has become a part of many hype cycles.”
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“Hiding within those mounds of data is knowledge that could change the life of a patient, or change the world.” (Atul Butte, Stanford) "Information is the oil of the 21st century, and analytics is the combustion engine” (Peter Sondergaard, Senior Vice President, Gartner) “War is 90% information.” (Napoleon Bonaparte) "Big Data will spell the death of customer segmentation and force the marketer to understand each customer as an individual within 18 months or risk being left in the dust.” (Ginni Rometty, CEO, IBM) “Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.” (Geoffrey Moore, author and consultant) “The world is one big data problem.” (Andrew McAfee) “I keep saying that the sexy job in the next 10 years will be statisticians, and I’m not kidding.” (Hal Varian, chief economist at Google) “The temptation to form premature theories upon insufficient data is the bane of our profession.” (Sherlock Holmes, fictional detective) "The most valuable commodity I know of is information." (Gordon Gekko, Wall Street) "If we have data, let’s look at data. If all we have our opinions, let’s go with mine." (Jim Barksdale, former Netscape CEO) “Processed data is information. Processed information is knowledge, Processed knowledge is Wisdom.” (Ankala V. Subbarao)
We've seen increasing interest and adoption in recognition and routing of inbound content, automated classification of records and email, metadata addition and correction, and all of the improvements in access, security, de-duplication, and retention that flow from this. But content analytics can offer so much more than this, with many applications and uses yet to come, and by 2020 will be one of the primary tools used by any enterprise. Here are eleven facts you might not have known about content analytics, taken from AIIM's latest research - Content Analytics: automating processes, and extracting knowledge. Enjoy!
People often seem to think oil & gas companies are leading-edge and have enough money to invest in whatever systems they like and that they live in a World of 3D models, data, and analytics. The real picture is often very different. Exploration and production companies, who search for and extract hydrocarbons, see information systems and information management as something necessary but not something that excites the interest of the board. Data is certainly much in evidence, but information overall is not treated as ‘the new oil’ by the industry. Much of the focus on data is within the geoscience discipline, from the creation of seismic surveys to reservoir modeling and interpretation. The techniques have changed a bit, but mostly we see increases in resolution, frequency, and speed of analysis. This clearly improves the odds of making a discovery and reduces the financial risks of drilling.
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?