data management and insight for digital transformation

Data management and insight for digital transformation

Digital transformation remains a top priority for enterprise companies. Here are some insights on data management to accelerate the effort.

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Digital transformation remains a top priority for companies across industry sectors, both within business units and amongst C suite executives.  

IT vendors are piling in, offering leapfrog solutions to help companies, especially large enterprises to become digitally savvy – and deliver superior value to their customers. Senior executives are adding digital transformation to their “must do now” agenda. 

However, many institutions are still struggling with the workflow processes and the IT infrastructure behind the “currency” of their business – documents. 

I started writing about Enterprise Content Management or ECM in my previous blog Data Management is critical for GRC and innovation. | Datavid

Needless to say, that at its simplest, offices that were supposed to go paperless two decades ago are still dealing with paper. Scanned documents proliferate in email before being stored in ad hoc content stores. “We don’t have a data lake, it’s a data swamp” quipped one business user.  

All businesses need to derive smart insights from enterprise data. The data types are diverse from social media, web data to sensors and devices. But how can one achieve it?  

Well, it is a journey. A journey which starts with an ability to integrate all types of data and make it searchable for e-discovery. Business applications also need to be integrated to deliver data insight and adjust to the workflow of, for example, a compliance officer. MarkLogic can help with the first challenge, and Datavid can help with the latter.  

In fact, MarkLogic and Datavid are already partnering with a number of customers. Syngenta is one example.   

MarkLogic’s CMO said that when it comes to, for example, insurance markets: “The challenge is that document management systems and content management systems are varied and in most cases have siloed infrastructures across Claims, Policy and Customer facing applications. Ironically, few of these systems can actually be called enterprise content management platforms.” 

According to Gartner (http://www.gartner.com/it-glossary/enterprise-content-management-ecm), Enterprise content management (ECM) is used to create, store, distribute, discover, archive and manage unstructured content (such as scanned documents, email, reports, medical images and office documents), and ultimately analyze usage to enable organizations to deliver relevant content to users where and when they need it. 

How to make an ECM project a success 

It won’t be a surprise that a lot of ECM projects fail because they are too hard to implement, or lead to non-compliance by users resulting in systems full of documents that nobody can find or use to drive business strategy and consumer experience. 

 
Today’s Enterprise Content or Document Management system must be able to: 

  • Reduce the time of e-discovery from hours to seconds. This was one of the themes discussed at a recent Big Data London Exhibition. 
  • Data security. Far-reaching breaches and hacks have put security at the top of the MUST pile. Conventional wisdom would suggest that outsider attacks are the prime culprit, but according to the SANS Institute, almost half (46 percent) of security breaches are from the inside. You can read more about Data security in a related blog from MarkLogic Cybersecurity: Shifting Focus to Insider Threats, Locking Down Data.  
  • Compliance requests. You can read more about sample compliance requirements in one of our recent blogs How To Secure Enterprise Data Sharing & Increase Compliance 
A linguist and marketeer, Anastasia has over 15 years of experience in global marketing and communications roles in financial and tech companies in London and Paris. She writes on data-related topics and often focuses on financial services as the industry for enterprise data management and data intelligence.

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