When enterprise information becomes a revenue provider

By June Manley

June Manley is the worldwide product marketing director responsible for HP’s  Information Management (IM) portfolio of software and services that help organizations manage their information governance needs.

  

Today’s exponential information growth isn’t big news anymore. It’s what companies can do with all this information that’s making headlines.

 

Social media and the growth of Big Data are fueling new revenue streams for businesses to take advantage of. But to gain that advantage, some other trends need to be exploited as well. Context-aware computing, pattern-based strategy and information-sharing ecosystems are the keys to extracting business advantage from that information. While these trends alone aren’t particularly new, taken together, they provide unprecedented challenges and opportunities.

 

 

Social media evolves as a revenue generator

There is a new world of information sources from social media and mobile devices. Social media already has enhanced the ability to connect with customers, suppliers and partners. However, the information and insight that can be gained from these connections also can translate into new revenue streams, in particular areas such as customer retention and reaching new prospects and markets.

 

Big value buried deep in big data

‘Big Data’ is one of the most talked-about topics in the tech world today. But it’s not all hype. Ninety percent of the 1.8 zettabytes of digital information in the world today has been created in the last two years alone. How? Information now comes from everywhere: from sensors used to gather climate data, posts to social media sites, digital pictures and videos posted online, transaction records of online purchases, cell phone GPS signals…and that’s just to name a few. This is Big Data.

 

The ability to manage Big Data will be a core competency—and a key differentiator—for organizations that are increasingly using these new information sources.

 

Human information calls for better, smarter tools

About 70 percent of the information in the digital universe is generated by individuals—and that’s not surprising given the growth of mobile devices and social media noted above. Emails, texts, tweets, video, voicemails, and documents…all of this information is created by humans for the sole purpose of communicating with other humans. We at HP call this human information.

 

Human information comprises the ideas and concepts that people use to communicate every day during work and play. It is the information that we naturally can interpret and understand, but that computers—until recently—could not. Unlike data, ideas can’t be placed into character-string matching databases and spreadsheets.

 

Human information is shaping our view of the world. And our roles of consumer and professional are converging, as are the physical and virtual worlds. That makes it more important than ever to capture and analyze this information in ways and in volumes that we’ve never done before.

 

To achieve competitive advantage, organizations need the ability to operate their business practices at the right speed. And the “right speed” generally tends to be “as quickly as possible”. The faster you can change the way you do business, the more competitive you can be. Managing your enterprise information effectively is becoming a key differentiator in achieving that speed of change.

 

Now here’s the good news:

 

Information-friendly technologies are evolving

Social media, Big Data and human information are too robust to analyze manually. Extracting monetary value from them depends on using the right strategies and technology. Automation and real-time analysis capabilities combined with the below strategies have shown that it is possible to gain monetary value from all this information.

 

Context-aware computing is the ability to “see” as the users sees, “hear” as the user hears, and experience the life of a user in the first-person sense. Context-aware computing provides the ability to sense a user’s physical environment much more completely than previously possible, and in many more situations, providing unprecedented insight into a user’s experience and needs.

 

Pattern-based strategy attempts to organize human information to identify patterns and trends so that they can be quickly acted on. Using a pattern-based strategy, enterprises can seek new patterns, model a response and adapt the organization to execute the response—and presumably save this information for future responses. Through a focus on pattern-based strategy, organizations can get better at responding to crucial business insight proactively, rather than reactively.

 

Information-sharing environments increase the value of information by ensuring that the right information moves from those who create it to those who need it. That means natural divisions, such as different departments, different systems being used to create or store the information, or different regions accessing the information, will be irrelevant—allowing seamless access to an enterprises’ information.

 

HP’s approach to Information Optimization

Information Optimization will be the key to competitive organizations’ ability to capitalize on insight, intuition and ideas to achieve better enterprise decisions from their information.  Imagine the possibilities if 100 percent of enterprise-relevant information was leveraged and used 100 percent of the time. This may not seem possible today, but it is.

 

You can learn more about how HP can help you process, leverage and use 100 percent of your enterprise relevant information, by exploring HP Information Optimization.

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