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, according to IDC.
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.
“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.