Lowering the costs of taxonomy development
Unless you are a highly trained specialist, or librarian the effort and costs to build and maintain a taxonomy can be frightening. I saved a statistic I saw about four years ago from IDC that said the average cost for taxonomy development, legacy content, and maintenance for one year topped $800K. I probably would think twice about building a taxonomy too!
Taxonomy development and maintenance has traditionally been a laborious and on-going challenge, not to mention costly. Our approach, which we feel is the most effective is to use rules-based categorization providing enterprises complete control of rules-based descriptors unique to their organization. Since all rules can be defined and managed, error prone results utilizing ‘training’ algorithms typically found in other approaches is eliminated and so is the time involved.
A concept based automatic classification process identifies during indexing categories that each document belongs to. Each category is identified by a unique descriptor and is associated with key descriptive words and/or phrases held in the database. This approach enables a rapid implementation of a corporate taxonomy with all documents classified to multiple nodes at index time. Ideally, the taxonomy can be used to browse the document collection or as a filter when running ad hoc searches.
An easy-to-use taxonomy and automatic classification tool creates the framework to classify content based on concepts to one or more nodes in the taxonomy. Designed for the Subject Matter Expert, not scientists, knowledge workers can interact in real-time with the taxonomy to simplify on-going maintenance. For example; automatically generating compound term clues from the document corpus, dynamically showing the effect of changes on the taxonomy, and class weighting influenced by parent, child, and sibling can reduce taxonomy development and on-going maintenance by 66%-80%.
Let’s see, based on my old statistic, that would be a savings ranging from $530K to $707K. Not a bad ROI.