Diversified Active Investment Management Firm

Case Study

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Improving Search for 500 Investment Professionals

“Without meaningful metadata, content remains unmanaged and has no value, rendering it useless as a business asset to the organization. The impact of the flexibility of content in context results in improved top-line revenue and profitability, while improving productivity, customer service, and reducing organizational risk.

 

Concept Searching
Customer Location:
United States
Industry:
Financial Services
Issue:

The challenge was to proactively manage unstructured and semi-structured content, to improve information transparency and relevancy during information retrieval, and significantly reduce the time spent by staff trying to find the most relevant and accurate information.

Products:

The unrealistic expectation that users will follow organizationally-defined procedures to determine where a document should be stored, how long it should be preserved, who has access to the document and how it can be used, has failed miserably.”

The solution dramatically improved information retrieval, through the automatic generation of semantic multi-term metadata that populates the SharePoint search engine. Going beyond achieving more accurate and relevant search results, the impact of identifying concepts in context at the point of need improved the operational performance of the organization.

Benefits

  • Transparent to end users, no training required
  • Access to diverse repositories and locations from a single interface
  • Transforms data into information and knowledge
  • Enables content sharing across the organization
  • Value quickly realized
  • Rapid transition to implementation

Diversified active investment management firm with a strong parent company and a culture of risk management.

Prior to solution evaluation, the information retrieval time of a document was sometimes measured in days. File shares were the primary filing vehicle, and an intranet was non-existent. End users were unproductive, and operational costs to process content continued to escalate. Damage included poor decision making and customer support. With no available tools and a continual influx of content, information remained unmanaged and had no measurable value.

Intranets have not increased in popularity or usage since 1994, claiming a daily usage rate of only 13 percent. Some 38 percent have never used an intranet. Low adoption rates are inexplicable, as finding information is often a slow and laborious process, content is duplicated, there is insufficient reuse and repurposing of content, and an over reliance on file shares predominates. For the most part, enterprise content management solutions have failed, yet continue to exist in silos, populating small functional groups within the organization.

There is a growing awareness in organizations to look beyond addressing a single business challenge and to solve the fundamental problem that prohibits progress, which can be attributed to poor or unusable metadata. The unrealistic expectation that users will follow organizationally-defined procedures to determine where a document should be stored, how long it should be preserved, who has access to it, and how it can be used, has failed. The inability to find, use, and protect content assets carries financial repercussions and has a direct impact on business agility.

The conceptClassifier platform, coupled with conceptClassifier for SharePoint, is used to automatically generate multi-term semantic metadata that is auto-classified to one or more taxonomies. This is able to remove end users from the process, resulting in increased productivity and affords the organization consistently high-quality, semantic metadata. In this solution, the taxonomy became the enterprise standard for processing all data – structured, semi-structured, and unstructured. As content is created or ingested, it is tagged with multi-term semantic metadata, making it available to any application that requires the use of metadata, such as data privacy or records management.

The Concept Searching suite of solutions addresses the full spectrum of functionality in the management of unstructured and semi-structured content. Through the elimination of end user tagging, a robust enterprise metadata repository can be automatically populated that will enable the enforcement of policies and processes across environments. Auto-classification and taxonomy management enable the customization of taxonomies that are unique to an organization, and facilitate the management and organization of content. Subsequently, information governance can be implemented without the sometimes complex technical tasks typically required. The technology framework is plugged-in once and reused, to address any application that requires the use of metadata.

The solution required accurate information retrieval. The two key performance measures for information retrieval are precision and recall. The ideal is for them to be balanced. Precision is the retrieval of only those items that are relevant to the query. Recall is the retrieval of all items that are relevant to the query. Higher precision often leads to missing items that may be relevant to the query but may use a different vocabulary. Higher recall often leads to the retrieval of too many items that may be unrelated to the query. A key benefit was the ability of conceptClassifier for SharePoint to address both recall and precision. This capability enabled the organization to retrieve vital information on demand, for planning, risk mitigation, decision making, and meeting organizational objectives.

In addition to the ability to balance recall and precision, the conceptClassifier platform provides the ability to deliver content in context – a significant problem in search and a high-priority challenge for this organization. Typically, a search query will return the keywords entered, but they are not necessarily what the end user is seeking. Content in context differs from enterprise search in that it will return what the end user is looking for at that unique point in time, delivered at the point of need.

The Concept Searching solution provided the technology framework to support improved access to intranet applications that required the use of metadata, specifically search. Significant improvements to search were immediately available out-of-the box.

 

 

Concept Searching provides a comprehensive, automated classification solution that harnesses multi-term semantic metadata and, based upon classification decisions, intelligent content in context is generated, enabling highly accurate information retrieval. The more relevant the metadata becomes to the organization, the more valuable the content becomes, as does the accuracy of search results. Without meaningful metadata, content remains unmanaged and has no value, rendering it useless as a business asset to the organization. The impact of the flexibility of content in context also results in improved top-line revenue and profitability, while improving productivity and customer service, and reducing risk

  • Reduces risk and management of content, through unique and interactive tools used by subject-matter experts
  • Transparent to end users, no training required
  • Elimination of end user tagging
  • Access to diverse repositories and locations
  • Transforms data into information and knowledge
  • Finds, reuses, and repurposes content
  • Secures and protects confidential and privacy information
  • Identifies records, improving compliance
  • Reduces duplicate efforts
  • Reduces threat of legal and regulatory risk
  • Content sharing across the organization
  • Value quickly realized
  • Rapid transition to implementation
  • Reliability of assets and usage
  • Improves transparency and accountability
  • Enhances participation
  • Ease of integration
  • Improves quality
  • Workflows designed for the business user

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