The AIIM Blog
Keep your finger on the pulse of Intelligent Information Management with industry news, trends, and best practices.
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.
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Big Data | Digital Transformation | Intelligent Information Management (IIM)
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?
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Making an ECM implementation successful requires planning and attention to detail. The best way to create the right solution is to identify organizational goals and priorities. Learn how to manage a successful implementation in our free guide.
How do we get any business insight out of all the information we are gathering? Here's an action plan:
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The emerging picture for big data analytics suggests that there is still a very high expectation for the potential value, and overall, early adopters are achieving good results that are helping to drive decision making in the business. But despite the fact that more trained practitioners have joined the ranks, there is still a skills shortage. Plus, the tools available are still considered hard to use and somewhat expensive. The overarching theme is that many organizations are too immature in their content management, search, and basic reporting to contemplate big content projects just yet, although they are making technology decisions today with a view to a big data future. AIIM's research study, "Big Data and Content Analytics -- Measuring the ROI," sought to find out more. Below, see the five key trends from the research project.
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There is a frenzy around big data today. But beneath the froth and the hype is this underlying and undeniable fact: big data will change the world, if companies start looking beyond the hype of the technology to learn how to put big data to work. There are two important sides to the big data story that must be understood. Right now, the focus on big data is on the technology itself and the exploding opportunities for data scientists - the "Yin." What's missing from this equation is the "Yang" -- the people who put all of this big data to some sort of business use - “Data Entrepreneurs.”
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According to IDC, the amount of information in the Digital Universe will grow by a factor of 44 between now and the end of the decade. Even more challenging, the number of containers or files will grow by a factor of 67. The subset of information that needs to be secured is growing almost twice as fast. And the amount of UNPROTECTED yet sensitive data is growing even faster.
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