New research from AIIM has shown that the the business intelligence market is shifting towards an "Uber for BI"concept but there are certain limitations for enterprises when planning their knowledge management strategies.
The good news is that 34% of responding organizations are already using content analytics for process automation, information governance, contextual search and business insights, with a further 44% having plans in place.
60% of respondents felt that content analytics will become an essential capability for their organization within the next five years.
The current trend suggests that companies are willing to spending more money on content analytics, and this is the direction they are heading in but their are various shortcomings which are preventing the decision-making progress. For example, 43% say they have poor capabilities, when conducting enterprise-wide search in their role.
The research shows that knowledge workers realise the important of implementing content analytics within their information strategy but are unsure on how to execute their plans.
For many knowledge workers - a whopping 63% - are being held back by lack of skills and allocated authority.
Specifically, a quarter of respondents feel it is either not applicable, or that they are stuck in a world of paper processes and 37% either have no one tasked to investigate, no budget or a combination of all three.
If the knowledge workers can't see the true value of implementing content analytics or there isn't anyone responsible to investigate tools on the market, then this slows the process of migrations of internal and external content sources within their organization.
The power of contextual search
Today, the process of sifting through text-based content can be assigned to computers, through the application of machine automation and indexing specific references on defined topics and taxonomies.
73% know there are real business insights to be gained.
In order to contextualise information within the enterprise, these sources need to collected from both inside and outside of the organisation including websites, blogs and news feeds. However, when indexing information across their company, only 7% of businesses perform contextual searches across external sources. In fact, a large majority, 59% have have never implemented contextual search into their information work flow but would find it useful to add to their information governance processes.
Top 5 reasons to use content analytic for your business
There are a many reasons to implement content anyaltics into your business, however here are our top 5:
1) Improve process productivity by removing the manual steps and information governance through indexing all internal and external sources
2) Gain real business insight and intelligence for your enterprise to make day-to-day business decisions
3) Add value to existing legacy content and improve search functionality, ensuring information is much more accurate and efficient
4) Increase staff productivity through collaboration tools, knowledge research and rapid response to external events
5) Drive overal product or service quality through core investigation and research
EditorEye is a cloud-based business intelligence platform. We unlock the value in external global content, licensed data and internal documents by unifying these within a single hub with a common topic taxonomy, allowing integrated search and analytics across all these sources. Request a demo today.