80% of enterprises are not yet using content analytics, although many executives see it as essential
Silver Spring, Md., Dec. 6, 2016 – Just 20 percent of enterprises are currently using content analytics (CA), despite more than a quarter of business executives seeing it as essential, according to new research by information management analysts, AIIM. Of respondents, 59 percent see content analytics as essential within the next five years.
Despite this perception of content analytics, 43 percent of those surveyed see considerable investment as an implementation challenge. Thirty-five percent in the AIIM study ‘Using Analytics – automating processes and extracting knowledge’ cite a lack of expertise needed to make it all happen.
“As organizations manage ever-growing volumes of information, they look to gain business advantage from that content by deploying analytics to derive meaning and insight,” said Bob Larrivee, AIIM’s chief analyst. “Many executives view content analytics as essential, but there are concerns about funding it and having the expertise to see it through. Organizations should be identifying opportunities for CA use, and investing in training now, so their teams have the skills to ensure content analytics is deployed effectively.”
For organizations that are already underway with their content analytics programs, the benefits are clear to see. Sixty-one percent of respondents feel the intelligence derived from content analytics is most useful in providing better insight and decision-making capabilities, while 37 percent see improved product or service quality as CA’s key benefit.
The variety of content types being analyzed is changing, too – 27 percent say they have a wide variety across multiple repositories, while the Internet of Things is increasingly contributing to the content mix.
For 43 percent of respondents, data is being captured from security systems (access readers, cameras, etc.) while 25 percent get data from facilities equipment (HVAC, lighting, etc.). More than half of respondents are capturing data from peripheral devices like multi-function copiers.
“The volume and breadth of content is enormous and it’s interesting to see the Internet of Things making such a significant contribution to content analytics programs,” continued Larrivee. “There is value and insight to be found in a variety of content types and to really drive that business advantage it is important to factor this into content analytics.”
Other key findings include:
· 52 percent believe automated content curation would be very useful.
· 14 percent of respondents use automated analysis on social streams, communities, news feeds, and inbound communications.
· Content analytics is driving auto-classification for tagging and routing to archive by 22 percent of respondents.
· 25 percent of respondents say their processes are flowing faster and more smoothly as a result of using inbound analytics.
· Around one-third of respondents say their organization has more than one content analytics application in place, while 15 percent say they are currently planning for it.
The research for ‘Using Analytics – automating processes and extracting knowledge’ was underwritten in part by ASG, ABBYY, Kofax, RecordPoint and OpenText.
The full report, which includes a number of recommendations for progress, is free to download here.