When you ask organizations what the biggest opportunity is for them, most will answer that it’s taking better advantage of their information for effective decision-making and competitive differentiation. And that makes sense. We capture and curate so much information, from our customers, partners, suppliers, prospective customers, employees and more, that if we examine it all carefully, it’s packed with a wealth of insights that can help us improve our products and solutions, the way we interact with customers and do business overall. But while information is a great opportunity, it’s also a huge challenge. And if we don’t manage it properly, we’ll never be able to truly reap its benefits.
The Challenges of Effective Information Management
The challenges related to not having control of your information are many. But in our work with clients across the globe, we’ve found several common themes:
- Storage costs are racking up. Yes, maybe storage is cheap – depending on what you use – but it still costs money. Every repository you use (and you have a lot of them) has a different pricing model, and that model often relates to the amount of information you store. The more information you store, the more storage costs increase. But they don’t have to. How much of that information do you really need to keep? How many copies of the same piece of content are storing right now? It’s crazy to spend money on multiple storage options, including continually increasing licensing costs for applications to store unneeded content.
- Compliance regulations are growing. GDPR, NYDFS Section 500.13 are just two of the latest compliance policies that are forcing companies to rethink how they capture and store content. Facebook might have opened the can of worms when it “unknowingly” gave millions of users’ personal information away, but every organization has a responsibility manage their information properly, including adhering to one or more industry and company regulations. The risk of non-compliance not only will affect your company’s pocketbook, but it can also ruin its reputation and destroy its business completely.
- Digital transformation is happening. Employees need access to information to perform their jobs and make the best business decisions. Technology needs to move forward to take advantage of new capabilities that drive competitive differentiation. You need to provide the best tools for your employees. This could mean decommissioning old applications in favor of new ones (like cloud-based applications), and it likely means providing tools that give your employees a 360-degree view of your information and a better way to search and find the right information.
We see these challenges every day, and we’ve been working on a solution that can help you take control of your information and empower your employees. It’s called everteam.discover, and the latest version is officially released today.
Leveraging everteam.discover for Information Governance
There’s so much we can tell you about everteam.discover 2.1. It’s a file and content analytics solution that is a key part of our information governance solution set. We believe that it’s not enough to find and organize your information though; it’s also about cleaning, enriching, migrating or archiving it (so it’s a lot more than simply file and content analytics). Note: If you want a full view of how we view and support information governance from a technology standpoint, check out our paper, “The Role of Technology in Information Governance.”
As for everteam.discover (or simply “.discover”), it lets you:
- Connect to a range of data sources including file shares, SharePoint, Exchange, Google Drive, and other ECM and cloud-based file sync and share solutions to identify and reduce ROT (redundant, obsolete, trivial) content and automatically identify files and documents containing personal data.
- Enrich and automatically classify content using corporate taxonomies, identify corporate records stored in inappropriate places and assign disposition policies and automate the preservation of record candidates.
- Reduce the time and cost of migrating your information to archives or a new application.
- Support compliance regulations such as GDPR by processing requests from data subjects to get access to their personal data (GDPR).
- Provide employees with a personalized 360-degree view of your information assets to support all business activities.
If you’ve seen our press release, you’ve seen that list, but there’s more to understand, so let’s expand on a couple of things.
- Everteam.discover leverages AI technologies including machine learning, natural language processing and named entity extraction to automate much of the analysis of your content. It can create content models using both metadata and the full-text of your content assets.
- But it also offers human curation capabilities such as multi-value user tagging, single and multi-value custom fields, saved searches and the ability to save a content selection for reviewing at a later time. AI is necessary and critical to deal with the volume of information managed today, but we can’t ignore the value that employees also bring to the table: a contextual understanding of the content, insights into its quality and how one dataset relates to another, how others use it.
- Everteam.discover provides a number of data access and retrieval features, such as both full-text and metadata searching, the ability to search for similar content using semantic-based search, named entity search and cognitive (or linguistic) search. It also ensures only the right people can see the information they are allowed to so even though all your information is indexed with .discover, it isn’t all available to everyone with access to the tool.
- The value of .discover is that you can connect to key repositories and find your information. You can organize it, but you can also clean it – enrich the metadata, delete the duplicate and obsolete information. But you can also migrate content to new repositories, archive the content you need but no longer use, and incorporate additional workflow processes as necessary to manage your information.
Everteam.discover supports the needs of information management professionals who are responsible for ensuring company information is secure, accurate and properly governed. But it also works for business professionals who need a tool that gives them a complete view of their information across silos through self-service search tools and personalized dashboards.
We are excited about this latest release, and we’d love to share more information with you. Register for our October 16th webinar where we will discuss the opportunities and challenges of information management and show you how everteam.discover can help you clean, organize, migrate and manage your information effectively.