HOW TO FIND A NEEDLE IN A HAYSTACK INTELLIGENT INFORMATION MANAGEMENT

Transcription

1 HOW TO FIND A NEEDLE IN A HAYSTACK INTELLIGENT INFORMATION MANAGEMENT

2 THE DATA DILEMMA It s sad that data, n all ts formats, s the new ol. Lke ol, data also needs to be refned. No busness can survve wthout data. However, the problem wth data s that unlke ol, there can be and s too much of t. Whle we are gradually runnng out of ol, we on the contrary keep on drownng n the abundance of data. And ths data s scattered across dfferent systems and repostores, and comes n numerous formats, both structured and unstructured. Busnesses struggle wth fndng the relevant data to refne and manage.

3 The amount of data SINCE THE oldest preserved document, a ceramc slab wth text orgnatng from approxmately 5000 BCE 1, manknd has been creatng data and wth an ncreasng pace n recent decades. Today, the amount of all data s 2.7 Zettabytes, whch s the equvalent of 200 bllon HD moves. Ths would take 47 mllon years to watch. 2 What s more, the amount of nformaton grows at an astoundng speed. THE AMOUNT OF DATA DOUBLES EVERY TWO YEARS 3 YEAR 1 YEAR 3 YEAR 5 YEAR 7 YEAR 9 YEAR 11 YEAR 13 BY 2020, THERE WILL BE 5,200 GIGABYTES OF DATA FOR EVERY PERSON ON EARTH 4 5,200 GB 5,200 GB 5,200 GB 5,200 GB 5,200 GB 90% of the data n the world today has been created n the last two years alone, at 2.5 quntllon bytes of data a day 5 - that s the equvalent of 250,000 Lbrares of Congress, or 150 mllon Phones. 6 For example, over 200 mllon emals are sent every mnute. 7 EVERY TWO DAYS we create as much nformaton as we dd from the begnnng of tme untl The total amount of dgtal data created worldwde wll ht 163 zettabytes by that s 163 bllon terabytes. 204, 000, 000 emals sent every mnute THE AMOUNT OF DATA BY ,000,000,000,000,000,000,000 bytes

4 The Dark data problem IT IS estmated that only 0.5 percent of all data created s analyzed for operatonal decson makng. 10 OUT OF all organzatonal nformaton n data repostores, over half s consdered dark data. That s data that s unknown and uncategorzed and therefore, qute useless for the organzaton. Gartner defnes dark data as the nformaton assets organzatons collect, process and store durng regular busness actvtes, but generally fal to use for other purposes (for example, analytcs, busness relatonshps and drect monetzng). 11 DARK 52% DATA 12 ONLY 15 PERCENT of organzatonal data s busness crtcal. The other 85 percent s ether redundant, obsolete, or trval so called ROT data or consdered dark data % BUSINESS CRITICAL 85% ROT-DATA OR DARK DATA THAT ROT and dark data comes wth a prce tag - an average mdszed organzaton wth one thousand terabytes of data would spend an extra $900,000 annually to store and try to manage that non-crtcal data. The data overload could cost organzatons up to $4.6 trllon cumulatvely by $900,000 The annual cost of non-crtcal data

5 The realty n a busness AS FAST as the growth speed of all dgtal data s, the speed of growth for organzatonal data s even faster. Organzatonal data doubles every 1.2 years. 15 And 80 to 90 percent of that data s unstructured 16 data that les outsde busness systems such as the CRM, n varous offce documents, emal, paper, desgn software, etc. 80%- 90% THE INFLUX of data s puttng a stran on IT nfrastructures. Accordng to a global survey from Avanade, 55 percent of respondents reported a slowdown of IT systems and 47 percent cted data securty problems. 17 CONTENT COMES n a huge varety of formats (structured databases, formal records, unstructured content, pctures, vdeos, graphcs, presentatons, offce documents, text, emal, socal, etc.). Enterprses store huge amounts n most cases 100 terabytes or more of unstructured data on n-house storage systems 18. The unstructured data s hard to manage, unless you know what the content s. To make t worse, the amount of unstructured data n enterprses s growng sgnfcantly often many tmes faster than structured databases are growng. 80 to 90 percent of organzatonal data s unstructured. ORGANIZATIONS USE content management systems to manage unstructured data. However, they often fal to manage t all n one common system. The average number of content management systems n use has grown by nearly 30 percent n the last fve years PERCENT of companes use three or more content management system. 20 YET, OVER half of organzatons say that most of ther unstructured busness nformaton les outsde content management systems n enterprse systems % Organzatons have legal oblgatons to manage all senstve data properly but how do you manage data when you don t even know what nformaton you have, where t s, or what t s.

6 The wasted opportunty THE AMOUNT of organzatonal data makes t hard to fnd the relevant data when t s needed. Therefore, nformaton cannot offer any benefts. Internal productvty decreases sgnfcantly when employees need to spend ther tme lookng for and re-creatng necessary nformaton. INFORMATION WORKERS spend more than two hours per day searchng for documents wth lttle to no success and up to two hours per day recreatng documents as the correct verson cannot be found or has been lost. Elmnatng the tme wasters related to creatng and managng documents would be equvalent to addng 98 new employees n a 1,000-person company PERCENT OF DOCUMENTS THAT AN ORGANIZATION PRODUCES NEVER GETS USED AGAIN. 70 PERCENT OF DOCUMENTATION IS RE-CREATED AT SOME POINT % 70% UP TO 10 to 30 percent of documents stored are duplcates. 24 Every byte stored has a prce, and duplcate data takes up unnecessary server space. Tme s also wasted on the management and upkeep of the unnecessary servers and data storage. To make the problem worse, duplcates are multpled n back-ups, data transfers and other smlar manners, ncreasng the rsk of usng the wrong verson of a document. The result s that companes spend a fourth of ther IT budget on data storage percent of documents stored are duplcates. MONEY WASTED s, however, not the only problem duplcate data causes. It can also damage company reputaton and customer relatonshps. ACCORDING TO a Cognzant study, trust s the new currency, and breakng trust can break a brand. Nearly 40 percent plan to swtch to the competton or dgtal startup due to trust ssues. 26

7 THE OPPORTUNITY FOR IMPROVED PROFITABILITY AND COMPLIANCE Today, as the result of neffcences n nformaton management, knowledge workers spend 30 percent of ther workng tme lookng for nformaton, rather than on somethng proftable. 27 TYPICALLY, ONLY ONE IN FIVE SEARCHES s successful the frst tme. On average, t takes up to eght attempts to fnd the rght nformaton. And t can take up to 25 mnutes to look just for one document % WITH THE amount of nformaton, t s no wonder busnesses struggle wth managng t. Yet, nformaton management s key to achevng both more proftablty and complance wth laws and regulatons. THE ENTERPRISES that thrve durng ths data transformaton wll be those that can dentfy and take advantage of the crtcal subset of data that wll drve a meanngful postve mpact for enhancng user experence, solvng complex problems, and creatng new economes of scale. 29 A 10 PERCENT ncrease n data accessblty translates nto an addtonal 65.7 mllon dollars n net ncome for a typcal Fortune 1000 company $65.7 mllon net ncome THE CHALLENGES related to collaboraton, such as gatherng and consoldatng feedback, as well as verson control, take up to seven hours of an nformaton worker s tme. Solvng ths problem effcently would mprove productvty to the extent of the work of 115 employees n a employee company. 31

8 Metadata s a key ngredent of effcent nformaton management METADATA, by ts defnton, tells more about other data. It gves common keys to fndng nformaton based on what t s, rather than where t s located. WHAT IT IS vs. WHERE IT IS DOCUMENT TYPE CUSTOMER DATE????? AUTHORIZATION? WITH METADATA, nformaton can be categorzed n a common, effcent way, so that everyone has access to t. The metadata-based what vs where approach to document management s the bass for ntellgent nformaton management. METADATA, WHEN used as t should, s generated every tme data s handled n any system wthn an organzaton. It can brng clarty to the defntons and relatonshps between data. Metadata can tell you what type of document t s, whch project or customer the document s about, who created or edted t, what s ts status, when t needs to be updated or approved, and so on. Through metadata, unstructured data becomes structured and content can be found n context.

9 Intellgence as a key to success METADATA, whle already provdng a lot of benefts for the organzaton, s stll only one step on the path towards mproved proftablty. TO EFFICIENTLY MANAGE all organzatonal data, you need a method of fndng, dentfyng, managng and processng nformaton regardless of ts locaton. You need connectors to access data n other repostores and ntellgent tools to fnd and manage the nformaton you need. UNIFY INFORMATION ACROSS SYSTEMS, REPOSITORIES AND PLATFORMS EASY AND ENGAGING OPTIMIZED FOR YOUR DEVICE MOBILE AND OFFLINE ENABLED CORE ECM CAPABILITIES SEARCH ACROSS REPOSITORIES AUTOMATIC METADATA AND CLASSIFICATION MULTI-REPOSITORY BACKEND ARTIFICIAL INTELLIGENCE tools can crawl nto repostores and use defned parameters to look for nformaton lke personally dentfable nformaton (PII). Artfcal ntellgence can also help you defne relevant metadata for the objects, mnmzng human errors or lazness by suggestng relevant metadata values. Once nformaton s categorzed, metadata can be used to create automatc processng rules and workflows. INTELLIGENT INFORMATION management comes from a metadata-drven approach to document management combned wth the ablty to manage nformaton across systems and repostores wthout the need for mgraton. USER ADOPTION s typcally a major obstacle on the way to mproved effcency when takng new systems nto use. Therefore, provdng tools that offer a wde varety of features to support the whole busness, whle stll beng easy to take nto use and manage, s vtal for success. ELEMENTS OF SUCCESSFUL INTELLIGENT INFORMATION MANAGEMENT + + AI + + METADATA DRIVEN SYSTEM AND REPOSITORY NEUTRAL INTELLIGENT EASY TO WORK WITH AND MANAGE RICH FUNCTIONALITY TO SUPPORT THE WHOLE BUSINESS

10 Improved complance IT IS not just effcency that comes wth the use of ntellgent nformaton management. Complance wth laws and regulatons s another mportant sde of t. Falng to comply can cost a lot of money. GDPR regulates the handlng of personally dentfable nformaton of EU ctzens. The falure to comply wth GDPR can result n fnes of up to four percent of a company s global annual revenue, or up to 20 mllon, whchever s hgher. 32 Potental cost of GDPR breach: 4% of global annual revenue or 20 mllon THE DIRECT LOSS of money s, however, only one aspect of the story. The potental reputaton degradaton can be more harmful, as consumers typcally stop buyng from organzatons they don t trust. ACCORDING TO a Cognzant study on consumer trust, roughly 57 percent wll stop dong busness wth a company that has broken ther trust. Almost all people are concerned wth prvacy (91%), and also wth theft (76%), msuse of personal data (75%), and even physcal safety (72%) % 91% 76% 75% 72% ON THE postve sde of t, half of consumers would be wllng to pay a premum for products or servces from companes they trust to protect ther personal nformaton. 34 INTELLIGENT INFORMATION management provdes transparency to workflows and helps you adhere to complance requrements more easly. 50%

11 10 BENEFITS OF Elmnate the need for content mgraton n sloed nformaton envronments lmnate the need for content mgraton n sloed nformaton envronments INTELLIGENT INFORMATION Fnd nformaton based on the rght context formaton envronments Fnd nformaton based Elmnate MANAGEMENT on the the rght need context for content mgraton n sloed nformaton envronments nd nformaton based on the rght context Do not duplcate data Fnd nformaton based on the rght context o not duplcate data Elmnate the need for content mgraton n sloed nformaton envronments Do not duplcate data ➊ Elmnate the need for content mgraton n sloed nformaton envronments You can work wth nformaton regardless of the fle locaton Manage busness-crtcal Do not data duplcate data anage busness-crtcal data ➋ Manage busness-crtcal data Fnd nformaton based on the rght context The same, correct nformaton s found based on dfferent search crtera and content s put n context ➌ Apply metadata to categorze and enrch data Apply metadata to categorze Manage busness-crtcal and enrch data data Do not duplcate data Everyone uses the sngle, correct verson of a document pply metadata to categorze and enrch data ➍ Manage busness-crtcal data Apply metadata to categorze and enrch data Leverage metadata to Leverage manage workflows metadata and to manage access rghts workflows and access rghts Illumnate busness-crtcal data from the dark n varous repostores everage metadata to manage workflows and access rghts Leverage metadata to manage workflows and access rghts Increase productvty s rghts Increase productvty Increase productvty Increase productvty Improve complance and rsk management Improve complance and rsk management Improve user adopton Improve user adopton Boost collaboraton Boost collaboraton Improve complance and rsk management Improve complance and rsk management Improve user adopton Improve user adopton Boost collaboraton ➎ ➏ ➐ ➑ ➒ ➓ Apply metadata to categorze and enrch data Leverage metadata to manage workflows and access rghts Increase productvty Improve complance and rsk management Improve user adopton Boost collaboraton Content can be tagged wth almost any nformaton that helps understand t n a busness context: the document type, expraton date, customer name, etc. Metadata can be leveraged to alert users of exprng contracts or to set permsson settngs, for nstance. Let employees focus on ther actual work rather than document flng and searchng Intellgent nformaton management systems help you comply wth laws, regulatons, and ndustry or company standards One unfed user nterface on all devces and across all repostores and platforms Share and co-author content wth nternal and external stakeholders Boost collaboraton Wth the help of ntellgent nformaton management, the system can refne documents and workflows, lettng employees focus on addng value to customers and the core busness. All of ths leads to mproved productvty and customer satsfacton.

12 WANT TO LEARN MORE? If you are nterested n ntellgent nformaton management and the possbltes t offers to you and your organzaton, please contact us. For nformaton about M-Fles, please vst

13 Sources on-earth.html key/communtyserver-components-postattachments/ /adobe-idc- Whtepaper-Brdgng-the-Productvty-Gap-GlobalWP.pdf 23 M-Fles experence 24 M-Fles experence attempts-fnd.htm# key/communtyserver-components-postattachments/ /adobe-idc- Whtepaper-Brdgng-the-Productvty-Gap-GlobalWP.pdf

14 Europe M-Fles Oy Hermankatu 1B33720 Tampere, Fnland USA M-Fles Inc Internatonal Parkway, Sute 2500Plano, TX Contact us at lnkedn.com/company/m-fles-corporaton ABOUT M-FILES M-Fles provdes a next-generaton ntellgent nformaton management platform that mproves busness performance by helpng people fnd and use nformaton more effectvely. Unlke tradtonal enterprse content management (ECM) systems or content servces platforms, M-Fles unfes systems, data and content across the organzaton wthout dsturbng exstng systems and processes or requrng data mgraton. Usng artfcal ntellgence (AI) technologes n ts unque Intellgent Metadata Layer, M-Fles breaks down slos by delverng an n-context experence for accessng and leveragng nformaton that resdes n any system and repostory, ncludng network folders, SharePont, fle sharng servces, ECM systems, CRM, ERP and other busness systems and other busness systems and repostores. Thousands of organzatons n more than 100 countres use M-Fles for managng ther busness nformaton and processes, ncludng NBC Unversal, OMV, Rovo, SAS Insttute and thyssenkrupp.