Why Businesses Are Investing in Content Analytics

 
 
By Dennis McCafferty  |  Posted 01-24-2017 Email
 
 
 
 
 
 
 
 
 
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    Why Businesses Are Investing in Content Analytics
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    Why Businesses Are Investing in Content Analytics

    Some companies use content analytics to extract data from emails and documents, but few use content curation to automatically create custom libraries and alerts.
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    Big Demand
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    Big Demand

    59% of the survey respondents said content analytics will be essential within five years.
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    Useful Information
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    Useful Information

    27% said their organization uses content analytics to extract data from emails, correspondence, forms, etc., and 25% use this technology to conduct free-text searches of scanned documents.
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    Deep Dive
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    Deep Dive

    36% of the respondents said their company has a search capability that allows for contextual analysis, as opposed to simple free text and keywords.
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    Powerful Tool
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    Powerful Tool

    Less than 10% said their organization can use content curation to automatically create custom libraries and alerts from multiple external and internal sources. More than 50% of respondents at companies that don't have this capability said it would be useful.
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    Uncharted Territory
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    Uncharted Territory

    Only 18% of the survey respondents said their organization has e-discovery tools with contextual analysis functions.
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    Dual Benefits
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    Dual Benefits

    64% said content analytics can improve process productivity by removing manual steps, and 62% said it can provide the intelligence needed to deliver better insights for decision making.
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    Taking Charge
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    Taking Charge

    38% of the survey respondents said the IT organization is driving their company's analytics projects, and 23% said corporate leaders are.
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    Challenges Implementing Content Analytics
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    Challenges Implementing Content Analytics

    Required investment: 43% Lack of needed expertise: 35% Information governance requirements: 34%
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    High Praise
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    High Praise

    Nearly half of the survey respondents describe their organization's enterprise content management (ECM) as either "good" or "excellent."
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    Stumbling Blocks
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    Stumbling Blocks

    43% said they deal with challenges related to the duplication of content creation, and 39% admitted that they have poor insights into their business operations.
 

Content analytics is expected to be essential within five years, even though most organizations are just beginning to explore this developing technology, according to a recent survey from the Association for Information and Image Management (AIIM). The accompanying report, "Using Analytics: Automating Processes and Extracting Knowledge," indicates that a number of companies are using content analytics to extract data from emails, while conducting free-text searches of scanned documents. Fewer, however, can use content curation to automatically create custom libraries and alerts from multiple external and internal sources—even though many would like to have that capability. Similarly, a small percentage of organizations can pursue e-discovery with completely contextual analysis functions. Through continued investment here, they can expect to overcome ongoing challenges, such as content duplication and a lack of actionable insights into business operations. "The time has come to take off the blinders, look beyond traditional boundaries of business content and leverage business information more intelligently," according to the report. "Replication and duplication of information can be eliminated. Information identification, collection, classification and analytics can be automated to the degree where, based on set criteria, business decisions can be made, records managed and processes initiated, without human oversight. Yes, there is an investment to be made, and yes there is expertise required, but this was also true when computers first came into the business world." More than 275 AIIM members took part in the research.   

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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