The number of solution areas for Insights management are of course technically “endless” and even though Inzyon is well equipped to engage in, and advice on, a wide range of Insights related programs, our focus has gradually narrowed down to four key areas within which the amount of financial gains to be uncovered seem most significant. They share a number of organizational aspects that contribute to the wide gap between current state and potential gain such as disparity of available information, high dependency on individual key experts and a tendency of un-coordinated working processes.
Project life cycle management
The amount of corporate knowledge that is embedded in current and historic project document repositories, as well as structured project data, is simply immense. When starting a new project, or progressing a project through its different phases, no matter the size or area, questions asked, but rarely fully answered, are many and among others like the following:
- Who of our colleagues knows something about this?
- Have we done something similar before?
- Is anyone by any chance doing something similar right now?
- Are there any assessments of profitability issues made?
- Any new external research available?
- How to best approach the project task?
If all information and experiences that has a bearing on the organization’s project activities, combined with open market research and/or specialist advice, was to be synthesized into one working environment, the level of insights that can be extracted will increase significantly and consequently improve quality, efficiency as well as profitability in any project undertaken. For corporations putting an insight engine at the heart of its project life cycle management the benefits will soon be apparent.
Fund services and asset management
Asset management is a hugely information intense operation. The number of sources and experts available that have different bearings on an investment decision is simply vast and that asset managers sometimes feel overwhelmed by information volumes is only to be expected. To constantly seek to avoid missing out on particular, and important, needles in the haystack is stressful for anyone but with today’s decision speed on the financial markets, asset managers are more than others exposed to such situations.
The challenge with many current asset management data environments is the sheer amount of necessary information in combination with the fact that it tends to be separated by source types or categories. The efficiency of the asset manager’s work would increase if all information instead was filtered and synthesized into his/her different investment areas and presented in a format to support rapid overview and analysis. With automation algorithms and machine learning supporting classification and analysis of information, a well-equipped insight engine adds a context-based structure to the conclusive asset manager’s investment environment. Examples of features that can be components of such an environment are AI-based trending themes, weak signals monitoring and structured heat-map analysis on all content connect to your insight engine. Consider an Insight engine and let Augmented Intelligence support investment decisions.
Law firm efficiency
Any law firm possesses, and uses, a tremendous amount of valuable information in the form of previously performed client work, results from litigations and client experiences. To make such business treasures available to all lawyers in the firm in order for them to be able to use advanced automation and analytics tools to rapidly condense exactly what is required in a particular case will not only save time spent but also increase the throughflow of cases and improve end result quality.
In a law firm, the value of proactive insights will mean a direct impact on increased top line revenue but with a maintained or even reduced cost base.
A real-life example of an insight driven, and business increasing, lawyer/client interaction was a lawyer who put phone call to a client in advance of the client itself having realized that a problem might be developing and, at the same time, suggesting an imminent solution. It was referred to as a welcomed call.
For the law firm, the insight engine will be your common point of entry to, and analysis of, your company’s collection of case and market experience. The likeliness of achieving almost immediate benefits post implementation is high.
Enterprise intelligence operations
All companies interact with their markets in one way or the other. However, to ensure that your market positioning, or in other words your competitiveness, is optimal vs your business environment at all given times is probably one of the most advanced information processing and analytics operation any corporation can embark on. The problem is…. One must, and most do. The question is thus not if, but how and to what extent companies realize the importance as well profitability of having a capable intelligence operation in place.
The enterprise intelligence arena is full of different labels such as market intelligence, competitive intelligence, technology intelligence etc but the bottom line is all about making sure the company has an information and analytics processing capability implemented in order for all decision makers to ensure that the everyday business constantly can be tuned vis-à-vis the changing business environment. Vast amounts of external and internal information must be filtered, digested and understood in order for decisions to be optimally adapted to the current situation.
Modern and capable insight engines are the answer to the question. To ensure that all market/product related decision makers throughout the organization (and that is typically many thousands in large organizations) have access to a rapid, user friendly, information environment from which relevant and timely insights can be drawn will prove invaluable for executive management’s strive for optimal competitiveness.