When Content Assets Drive Business Outcomes
Statistics abound in the loss of productivity and revenues organizations incur because of a lack of a cohesive approach to managing and leveraging their information assets. According to Gartner, over 80% of business decisions are made using unstructured information. It would be unthinkable for an organization not to have a financial system, yet IT savvy organizations are still reluctant to invest in classification and taxonomy solutions even though the ROI can be significant. Part of the reluctance stems from the fact that traditional products are prone to complexity, long implementations, and requires significant staff involvement. The end result usually offers some improvement but often does not live up to the promise. IDC estimates that return on investment for extending an organization’s knowledge infrastructure ranges from a minimum of 38% to as high as 600%.
Organizations whose businesses are driven by their content assets and knowledge capital depend on the ability to find, and re-use content. Organizations that are highly regulated and where non-compliance can result in significant liabilities also place high value on content. The ability to make better decisions, respond more quickly to market changes, and increase competitive advantages are all realistic objectives that can be achieved.
Industries that view unstructured content as a knowledge asset or are highly regulated have depended on Concept Searching technologies to provide the framework for managing these assets. Companies such as government entities, professional services, energy and utilities, on-line media, pharmaceuticals, and finance are using Concept Searching to solve their content management challenges.