• Data Asset

    ON DIGITAL-First Fridays: A New Asset Class Emerges. Data

    We live in a digital world. A testament to this new reality is the growing value of digital content: we design complex products, manage our pipelines, transfer cash, procure trillions, hire employees—all in the form of digital content. This is the new digital reality. Information is the new currency. The impact this is having on society, business, and government is profound. Will data replace the Dollar, the Euro, the Yen? It certainly has started to. New businesses and whole industries are emerging to support the digitalization of content. Google, Facebook, and Twitter have built their businesses on the economics of data. They’re collecting it, analyzing it, and monetizing it at great profit. Data is new digital legal tender and everyone’s getting in the game. As it is commoditized in its various formats, businesses will have to find ways to reward customers in exchange for their data. Marketers will have to be more sophisticated in their use of personal data. Individual consumers will sell their personal data to organizations that are currently benefiting from collecting vast amounts of it for free. This will become common practice. When we consider the rate of increase in the amount of data generated by today’s society, we can understand how this new business model is a lucrative one. There is more data in more formats being exchanged at faster rates than ever before. Each day, we produce massive streams of data. As a result, every digital business has data to monetize. In a digital world, organizations will use analytics to mine their data for information and insight to improve business performance, to protect against fraud and risk, to get to know their customers better, and to capitalize on new opportunities. If data is the new asset class, then analytics is the next frontier in deriving value from information, uncovering “moments of truth” that empower organizations. Analytics has the power to transform facts into strategic insights that deliver intelligence for profound impact. But where there is opportunity, there is also risk. Data is vulnerable. Like money, data can be stolen. As information grows in value, so …

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    ON DIGITAL-First Fridays: The Internet of Things

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    5 Free Things to Help You Improve Your Information Management

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    ON DIGITAL-First Fridays: It is a Network, Not a Chain

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    ON DIGITAL-First Fridays: Innovation Redefined

  • Data Asset

    ON DIGITAL-First Fridays: A New Asset Class Emerges. Data

    We live in a digital world. A testament to this new reality is the growing value of digital content: we design complex products, manage our pipelines, transfer cash, procure trillions, hire employees—all in the form of digital content. This is the new digital reality. Information is the new currency. The impact this is having on society, business, and government is profound. Will data replace the Dollar, the Euro, the Yen? It certainly has started to. New businesses and whole industries are emerging to support the digitalization of content. Google, Facebook, and Twitter have built their businesses on the economics of data. They’re collecting it, analyzing it, and monetizing it at great profit. Data is new digital legal tender and everyone’s getting in the game. As it is commoditized in its various formats, businesses will have to find ways to reward customers in exchange for their data. Marketers will have to be more sophisticated in their use of personal data. Individual consumers will sell their personal data to organizations that are currently benefiting from collecting vast amounts of it for free. This will become common practice. When we consider the rate of increase in the amount of data generated by today’s society, we can understand how this new business model is a lucrative one. There is more data in more formats being exchanged at faster rates than ever before. Each day, we produce massive streams of data. As a result, every digital business has data to monetize. In a digital world, organizations will use analytics to mine their data for information and insight to improve business performance, to protect against fraud and risk, to get to know their customers better, and to capitalize on new opportunities. If data is the new asset class, then analytics is the next frontier in deriving value from information, uncovering “moments of truth” that empower organizations. Analytics has the power to transform facts into strategic insights that deliver intelligence for profound impact. But where there is opportunity, there is also risk. Data is vulnerable. Like money, data can be stolen. As information grows in value, so …

    Read More
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    5 Free Things to Help You Improve Your Information Management

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    Understanding the Basics of Supply Chain Analytics

    Today’s supply chains move millions of shipments around the world each year, but just think for a moment about the information required to ensure these shipments get from A to B safely and on time. The information flows, primarily based on EDI/B2B transactions, to support today’s global supply chains are growing in volume year-on-year. What benefits could a business obtain by being able to monitor these information flows and obtain deeper insights into what makes supply chains ‘tick’? Say hello to supply chain analytics. Monitoring the day-by-day, hour-by-hour, or minute-by-minute ‘pulse’ of a supply chain could potentially bring significant operational and business benefits to a company. From a supply chain point of view, companies are looking for answers to questions such as: Who are my top suppliers and how many B2B transactions have I exchanged with them? Who are my top (and bottom) performing suppliers based on specific key performance indicators such as complete orders, accurate shipments, on-time deliveries and processing of payments? For which suppliers/customers has the order/payment volume increased or decreased by more than 30% over the last 12 months? Which of my customers sent me the most orders during the end of year holiday period and which ones sent many changes? Here at OpenText we are processing over 16 billion transactions per year across our Trading Grid B2B network. These transactions are feeding global supply chains with rich information to help ensure that orders are processed in time, deliveries are shipped to the correct destinations and invoices not only get paid on time but comply with the ever increasing number of compliance regulations. Now what if you could apply Big Data analytics to supply chain operations in order to obtain deeper insights into how your digital information flows are supporting your physical shipment flows around the world? According to many leading analysts, Business Intelligence and Analytics are the most important focus areas for the CIO in 2016. Big Data analytics has been around for a few years now, really emerging in 2010 with mobile and cloud based technologies, but it is really only over the last two years that companies …

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    Applying a ‘Marginal Gains’ Approach to Improving Retail Supply Chain Performance

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    3 Ways Election Tracker ’16 Solves the Unstructured Data Dilemma

    When OpenText launched Election Tracker ’16, we received several encouraging and positive responses regarding how easy it is to compare stats about their favorite Presidential candidate using the interactive visualization and intelligent analysis. And without fail, the next question was, “How does it work and how could it help my business?” Powered by Release 16, Election Tracker is a great example of unstructured data analysis in action. It is able to showcase the power and importance of unstructured data analysis in a relatable way. In fact, we feel the Election Tracker addresses the dilemma of unstructured data in three distinct ways. 1) Intelligent Analysis Making sense of unstructured data is a high concern for digital organizations. Perhaps it’s trying to understand Google’s Page Rank algorithm, finding sentiment in the body of an email or website, or perhaps scanning digital health records for trends. It is also important for businesses that need to organize and govern all data within an enterprise. Companies are not shy about throwing money at the problem. The global business intelligence market saw revenue of nearly $6 billion in 2015. That number is expected to grow to $17 billion at a CAGR of 10.38 percent between now and 2020, according to market research firm Technavio. Much of the investment is expected to come in the form of data analysis and cloud implementation. The secret sauce is our content analytics tool, OpenText InfoFusion. Using natural language processing technology or text mining engine, the software tackles the core of unstructured data by extracting the most relevant linguistic nouns from semi-structured or unstructured textual content. The extraction is based on controlled vocabularies such as names, places, organization labels, product nomenclature, facility locations, employee directories, and even your business jargon. The InfoFusion engine is able to automatically categorize content based on a file plan, hierarchical taxonomy or classification tree. This automatically creates a summary combining the most significant phrases and paragraphs. It can also show related documents.  This ability to relate documents is based on semantics—asking the engine to give you a document that has the same keywords, key phrases, topics and entities. The engine can also detect the ways …

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    OpenText Releases U.S. Presidential Election Application, Powered by OpenText Release 16

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    Are You Ready for Some Football? — Data Driven Digest

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    How to Play Nice with Compliance

    Compliance is a little like the big, scary kid at the playground. No one wants to make direct eye contact, no one wants to get too close, and no one thinks any good can come of the situation. Unfortunately, no one considers what that big kid can do for them. Oh, poor, lonely, ostracized compliance… sigh… It’s true that you don’t want to mess around with compliance. But that doesn’t mean you can’t roll with it. After all, it’s key to any enterprise: an organization cannot operate if it does not adhere to the laws, regulations, guidelines, and standards relevant to its business. So, how can you play nice with this big, scary kid? 1. Step back and take a good look. What do you need to be aware of? Content and process are at the heart of Governance, Risk Management, and Compliance (GRC), and there are many different regulations and standards around the world. Which ones affect you? Take a look at this Regulatory Compliance & EIM Matrix. It’s a convenient, at-a-glance table of key regulations and standards from across the globe, and it also lists the associated EIM requirements. Download it to keep for quick reference! 2. Listen to what the other kids are saying. What should you pay close attention to and what do you feel confident about? According to a recent white paper from AIIM® and OpenText, Managing GRC with ECM and BPM, the top driver of Governance, Risk Management, and Compliance (GRC) for organizations is avoiding reputational risk. In fact, we found that protecting the reputation was twice as big of a driver as avoiding fines and penalties. (It always comes back to the playground.) Other highlights from the survey include the following: The most common GRC complaints: Multiple, disparate systems to manage compliance documentation Manual, inefficient GRC processes Homegrown systems and tools 40% surveyed say policy management is their biggest challenge with regulatory compliance, and only 9% are confident their policies are up-to-date. 85% believe ECM would help them meet their compliance requirements. The top 5 ECM functionalities deemed most important for GRC: RM, …

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    Four Elements to Enable Your Digital World

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  • Data Asset

    ON DIGITAL-First Fridays: A New Asset Class Emerges. Data

    We live in a digital world. A testament to this new reality is the growing value of digital content: we design complex products, manage our pipelines, transfer cash, procure trillions, hire employees—all in the form of digital content. This is the new digital reality. Information is the new currency. The impact this is having on society, business, and government is profound. Will data replace the Dollar, the Euro, the Yen? It certainly has started to. New businesses and whole industries are emerging to support the digitalization of content. Google, Facebook, and Twitter have built their businesses on the economics of data. They’re collecting it, analyzing it, and monetizing it at great profit. Data is new digital legal tender and everyone’s getting in the game. As it is commoditized in its various formats, businesses will have to find ways to reward customers in exchange for their data. Marketers will have to be more sophisticated in their use of personal data. Individual consumers will sell their personal data to organizations that are currently benefiting from collecting vast amounts of it for free. This will become common practice. When we consider the rate of increase in the amount of data generated by today’s society, we can understand how this new business model is a lucrative one. There is more data in more formats being exchanged at faster rates than ever before. Each day, we produce massive streams of data. As a result, every digital business has data to monetize. In a digital world, organizations will use analytics to mine their data for information and insight to improve business performance, to protect against fraud and risk, to get to know their customers better, and to capitalize on new opportunities. If data is the new asset class, then analytics is the next frontier in deriving value from information, uncovering “moments of truth” that empower organizations. Analytics has the power to transform facts into strategic insights that deliver intelligence for profound impact. But where there is opportunity, there is also risk. Data is vulnerable. Like money, data can be stolen. As information grows in value, so …

    Read More
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    OpenText Releases U.S. Presidential Election Application, Powered by OpenText Release 16

  • IOt2

    ON DIGITAL-First Fridays: The Internet of Things

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    ON DIGITAL-First Fridays: It is a Network, Not a Chain

  • shutterstock_288233360

    ON DIGITAL-First Fridays: Innovation Redefined