Key Information Management Trends Shaping Business Today

Apr 17, 2019

Article ImageThe enterprise information management landscape is changing rapidly, driven by the need for business agility and scalability in the emerging digital economy. Effective information management is pivotal in properly managing input and output of information on a day-to-day basis.

Amidst this changing landscape are three enterprise information management trends that companies shouldn’t overlook if they are to truly maximize information management technology going forward. These include AI and content analytics, content federation, and collaboration. But, in order to reap maximum efficiencies, it is imperative to know exactly how they will impact your business and where benefits can be optimized best. Here we look at each trend and how, if properly deployed, they can help organize store and manage growing amounts of data.

1: AI and Content Analytics—Extracting Insight

Once blue sky thinking, artificial intelligence (AI) and content analytics technologies are now beginning to make their mark in the enterprise information management sector.

Last year, analyst firm Forrester said that content was still an untapped source of data insight
and that automation, analytics and data extraction would work to solve this problem. Now, we see enterprises actively looking to take up these opportunities. From increased productivity to reduction in human errors, applying AI to content is helping users pull out insight from unstructured data and speed up business processes. According to Gartner, “Hype Cycle for Artificial Intelligence, 2018,” over the next five years AI will ramp up and we will see AI technologies such as virtual assistants and speech recognition go mainstream. 

To glean value from AI, information management must ensure that not only are data volumes large, but also that the data is of a superior quality. Enterprises have made major advances in digitizing data – the next step is to make it readily available for content analytics tools and cognitive services. When content is isolated in silos, however, it is hard to manage such large data resources and know exactly what resides where. The issue of data silos will need to be addressed before adopting AI and content analytics technologies.

When you are ready to utilize AI in your company a content services platform will provide the required foundation. In the best case scenario, your company already has an intelligent information management solution—a content services platform (CSP) with integrated cognitive services. Content analytics methods using machine learning and content classification can enable your business to generate data insights from unstructured content.

A content services platform is also a boon to IT administrators looking to strip out data that is outdated or insignificant by automatically labeling content with metadata. Labeled content, in the context of retention management, for example, can then be wiped out based on rules or through a verification process and eliminated from content analytics. This allows you to maintain high data quality and avoid misleading conclusions.

2: Content Federation–Controlling Data Sprawl

Content federation has established itself as a sustainable solution for managing the seemingly unmanageable amounts of data flowing into enterprises at an incredible rate.

Content federation basically enables you to integrate data generated by a number applications and stored in disparate databases or multiple servers and serve it up as if from one source. This approach ensures data is continuously actionable.

If you store data across disconnected data silos and applications you are leaving yourself open to data access and privacy issues coming down the pipe from increased legislation. Take the EU GDPR, for example. Since May 2018, the European regulation has required every company doing business in the EU to know exactly where their data is stored, alongside many other data requirements.

Content federation, as a part of a content services platform, can enable your business to swiftly identify personal data, eliminate duplicates, and to delete it upon request. Content enriched with metadata makes data discovery and management even more efficient. 

3: Collaboration—Working Together for Greater Efficiencies

Collaboration is a recurring trend – but one that is essential to modern enterprises. From colleagues, partners, vendors, and regulators – businesses today work with a network of stakeholders internally and externally. Secure and seamless collaboration in such a connected world is key.

Effective collaboration maximizes agility and responsiveness across the entire business, connecting people and processes to share knowledge, experiences, expertise, and, importantly, innovate. Through effective collaboration business relationships can be improved and process cycles reduced.

Enterprises must balance the ever-changing needs of users, with an enhanced user experience built around usability and practicality. Users need to see that their enterprise collaboration solution is more effective and easier for sharing and working on information than using shadow IT, which is still a worrying risk to business.

The big challenge is to set up an enterprise collaboration solution that matches everyone’s requirements, which isn’t easy. Virtual project and data rooms, however, as a collaboration solution added to a content services platform are one way to address collaboration needs. In this shared space, users can create, organize and work on documents, tasks, and processes securely without risking information governance.

A True Platform Approach to Content Services

The effective management of data is now critical for all organizations. The three trends we have discussed here have the scope and potential to truly enhance the way your company manages and uses information in an increasingly competitive business environment.  A content services platform approach will provide you with the solid foundation you need to deploy AI and content analytics solutions, adopt content federation, and provide your users with a secure virtual collaboration space.

Don’t wait – now is the time to put content to work in the context of your business processes so you can make smart decisions fast that will drive your business to the next level.

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