New IDC Study Uncovers Best Practices in Unlocking the Hidden Value of Information
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Research from International Data Corporation (IDC) shows that unstructured content accounts for 90% of all digital information. This content is locked in a variety of formats, locations, and applications made up of separate repositories. When connected and used properly, such information typically can help increase revenue, reduce costs, respond to customer needs more quickly and accurately, or bring products to market faster. The best practices and strategies to unlock the hidden value of information are the focus of a newly published IDC multiclient study.
“The lessons learned from organizations interviewed and surveyed as part of this study show that unlocking the hidden value of information can yield immediate and tangible results.”
"Unlocking information from this content is not a trivial task, and many organizations face roadblocks because of a lack of appropriate technology and processes," said Dave Schubmehl, Research Director, Content Analytics, Discovery, and Cognitive Systems. "IDC set out to better understand what leaders in this area are doing better or differently than others; how they are combining new technology, processes, and empowering staff to unlock the hidden value of information."
To understand what organizations were doing to extract value from their unstructured content, IDC surveyed 2,155 organizations across six countries and conducted in-depth interviews with 11 organizations in the United States and Europe. IDC then identified a set of leading organizations that have a high Knowledge Quotient (KQ) – a score developed by IDC that identifies an organization's ability to unlock the hidden value of information.
"This analysis revealed that organizations with top KQ scores, which represent ten percent of our sample, are five times more likely than others to experience benefits from information access, analysis, and sharing projects that exceed expectations," noted Dan Vesset, Vice President, Business Analytics and Big Data at IDC. "The lessons learned from organizations interviewed and surveyed as part of this study show that unlocking the hidden value of information can yield immediate and tangible results."
The study also found that most organizations need to overcome both technology and organizational challenges to become a KQ Leader. One of the key challenges organizations face is the ability to measure project benefits. IDC found that 63% of the organizations surveyed had not quantified the benefits from their information access, analysis, and sharing projects.
The IDC multiclient study, Unlocking the Hidden Value of Information, was sponsored by the following organizations: Attivio, Coveo, Earley and Associates, HP, IBM, IHS, Lexalytics, Sinequa, and Smartlogic. For additional insight into the study's findings, please see Dave Schubmehl's blog post on the IDC Community or the sponsoring organizations' Web sites.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. In 2014, IDC celebrates its 50th anniversary of providing strategic insights to help clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.