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Table of Contents
Introduction........................................................................................................................................................................................................................................................................ 3
About Coveo................................................................................................................................................................................................................................................................... 19
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 2
eBook
INTRODUCTION
Big Data. Unstructured data. Semi-structured data. Data is all over the Return on knowledge may be the next big differentiator for companies
technology news, and for good reason. It is overwhelming organizations, in today’s Big Data world. Hidden inside streams of structured and
requiring them to find new ways to operate, stay competitive, better unstructured data across cloud, social and on-premise systems are
serve their customers and bring new products to market faster. information relationships that answer questions employees haven’t
even thought to ask. But how can organizations best leverage
Gartner predicts that enterprise data will grow by 800 percent in five
Big Data – defined as simply overwhelming amounts of variable
years, with 80 percent of it unstructured. The accelerating growth and
and quickly changing data from multiple systems – to increase return
fragmentation of data – in the cloud, in social media and in enterprise
on what is arguably the greatest asset they possess: Knowledge.
systems – creates a bigger and bigger knowledge access problem.
Located in systems inside and outside the firewall, and, more
It makes it nearly impossible for executives, employees and customers
importantly, in the minds and experiences of their employees and
to leverage contextually relevant information when they need it
experts outside the firm. This ebook provides a guide to helping
to solve challenges, make critical decisions and simply do their jobs.
leaders exploit this tremendous opportunity.
Unstructured data can also create tremendous opportunity when
leveraged correctly. Knowledge contained within systems and
within people is what keeps organizations competitive, innovative
and unique. When accessed and shared across teams, geographies
and departmental silos, its influence may be even farther reaching.
The speed at which business moves today, combined with the sheer
volume of data created by the digitized world, requires new approaches
to deriving value from data and knowledge.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 3
eBook • The Building Blocks of Insight: Data, Information, Knowledge, Humans
How can organizations connect the data dots to gain new insights? People gain insight by gathering information from all sources and by
Data on its own is meaningless. It must be organized into information identifying and learning from other people who have prior experience
and transformed into knowledge before it can be interpreted about the situation at hand. In other words, information cannot
by humans into actionable insight for strategic decision making. be leveraged on its own – it must be combined with people to create
knowledge. Organizations need to look at knowledge as a value that
The terms data, information and knowledge are often used inter-
can be organized and measured in order to make the most of their data.
changeably, but they have important distinctions and implications.
Data is defined as factual information (as measurements or statistics)
used as a basis for reasoning, discussion or calculation. In and STRATEGY
of itself, data provides limited value. This is why growing amounts
of data do not equate to growing amounts of knowledge. INSIGHT
Information is data that has been organized, categorized
or condensed in some way. KNOWLEDGE
Knowledge is information processed in the mind of an individual.
You arrive at knowledge by processing and accessing information INFORMATION
available to you.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 4
eBook • Establishing Knowledge as an Asset
When those inside or outside an organization want to know how well INVESTMENT IN NON-TRADITIONAL ASSETS IN THE US
a business is doing, they tend to look for information on its “tangible Source: University of Maryland
assets.” These assets are generally understood as those things with US BUSINESS INVESTMENT IN INTANGIBLES
physical properties. Fleets of trucks, machinery, land, buildings, inventory (Billions of $, Annual Average)
and cash are all easily understood as tangible assets. “Intangible assets”
1400
– also referred to as knowledge assets or intellectual capital – are assets
that cannot be seen or touched. Patents, trademarks, copyrights, goodwill, $1,200
billion
brand recognition and reputation are all examples of intangible assets. 1200
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eBook • Collective Knowledge: The Most Important Asset of an Organization
Organizations have always sought and valued knowledge. Recognizing of their organizations. If knowledge is an asset, then the return
knowledge as a corporate asset is new, however, as is understanding on knowledge is ultimately linked to the ability to enable people
the need to manage and invest in it with the same attention paid to access that collective knowledge more efficiently. It either drives
to getting value from tangible assets. a return, or otherwise sits in a corner as the organization fails
to leverage it.
The need to make the most of organizational knowledge – to get
as much value from it as possible – is greater now than in the past. How do you find what you need? Managers making difficult decisions
Companies are finding themselves with piles of information within are much more likely to go to people they view as knowledgeable
multiple channels, locked away in silos – different systems, different than they are to look for information in a database. If no one goes
departments, different geographies and different data types, making to see those experts, the knowledge they possess is not going to be
it impossible to connect the dots and make sense of critical business recuperated. The mere existence of knowledge somewhere in the
information. New computing models like cloud and social business organization, in the customer base or via partners, is of little benefit;
are exacerbating organizations’ ability to collect, analyze and process it becomes a valuable corporate asset only if it is accessible, and
data. The data is there, but it isn’t being harnessed in the right way to its value increases with the level of accessibility.
increase our collective knowledge. And it is our collective organizational
knowledge that gives us the edge over our competition.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 6
eBook • You Don’t Know What You Don’t Know
At a time when organizations need to "know what they know" Consider the area of customer service. As enterprises increasingly
and use that knowledge effectively, the size and geographic reach use customer service to differentiate themselves, knowledge
of many of them, along with the proliferation of data, make it especially management has gained strength as a strategic initiative. Today’s
difficult to locate existing knowledge and get it to where it is needed. customers are more demanding about service – they are savvier
Companies are looking to gain more answers while facing uncertain than ever and want a personalized, tailored interaction.
situations. They want to be faster, better and more competitive against
To improve service productivity and the customer experience, service
more competent companies. They’re also being asked to do more with
reps need to be able to leverage collective knowledge. The ability to
less, but there’s a wealth of data at their disposal that they don’t often
pull together the right information and make it available for customer
know exists. And if they don’t know it exists, they can’t generate new
service agents helps drive efficiency and customer satisfaction.
knowledge and insights from it.
This saves costs and reduces customer churn. Ultimately, it makes
it more likely that existing customers will purchase more.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 7
eBook • Case Study: CA Technologies
Case Study: CA Technologies For CA, Coveo is now indexing data across 74 systems for 13,000
employees, who now have access to consolidated, correlated
information that is presented with contextual relevance. On its secure,
If there’s one company that could serve as a showcase for how customer self-service site, Coveo is indexing data from 24 different
better insight into vast amounts of data can drive improvements systems, for 150,000 users who are conducting 1,000 searches per
throughout an organization, it’s CA Technologies. The company’s minute. From disparate data to actionable insight, Coveo provides all
Technical Support team needed better access to relevant information 13,000 CA employees with always-fresh data about customers, projects,
stored in multiple repositories to improve the speed and accuracy of and people – across enterprise systems and social communities.
the technical resolutions it offered customers. CA Technologies
began by empowering contact center agents with Coveo’s search
and relevance platform, and then expanded its use of Coveo to power Customer self-service satisfaction 10%
more personalized, conversational and relevant customer self-service Overall customer satisfaction 40 basis points
on its secure customer website and online developer communities. Case resolution time Up to 50%
Not only was the amount of customer information increasing across Productivity and call deflection
channels, but the complexity and amount of products the company Supporting 1000 hits/minute from over
150,000 registered support site users globally
was supporting was also increasing. It was critical to ensure they
were sharing customer information not only within Technical Support,
but also across R&D and sales and marketing, as well as making We needed a way to break down information silos and better
it accessible to customers through their online, self-service support site. consolidate, correlate and share critical customer information across
Critical product issues, customer feedback, enhancement requests, our Technical Support team, as well as across R&D, engineering and
and more, were being captured in Technical Support – information sales and marketing – essentially all CA Technologies employees. We
that would greatly benefit R&D, sales and marketing teams – so that also needed an easy to use, online customer self-service solution that
they could better develop, market, and sell the company’s solutions. would quickly connect customers with relevant information to resolve
their technical questions.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 8
eBook • Insight Deficit Affects Business Performance
12
13 Searching for
information: $14,000
Analyzing
information: $13,000
Publishing
10 information: $6,000
4
4
0
Searching Analyzing Publishing
Email
for information information information
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 9
eBook • Insight Deficit Affects Business Performance
That comes to more than $50,000 per employee per year of lost
Recreating knowledge that already exists. Knowledge workers
productivity. What statistics like these tell us is companies are drowning spend more time recreating existing information than they do turning
in a sea of data. The situation is not only frustrating, it’s costly. It can out information that does not already exist. IDC suggests that
result in poor decision making based on incomplete information,
reinventing the wheel, lost sales when customers are unable to find 90 percent of the time knowledge workers spend
the product or service information they want, and stymied innovation. in creating new reports or other products is spent
in recreating information that already exists.
I nformation overload. Knowledge workers, says IDC, spend
15 percent to 35 percent of their time searching for information.
And, most people don’t know where to look, or how to ask The conclusion is clear: knowledge workers spend a lot of time finding
for what they are seeking. This challenge is heightened and processing information, at a high cost. If we can make it easier
by the explosion of Big Data. for employees to find the information they need, and gain new insights
from it, organizations will get a higher return on their greatest intangible,
I nability to find information. With information scattered across knowledge. Employee productivity will rise and profits will soar.
an organization’s repositories, directories and intranets,
employees cannot easily locate information they need in order
to make critical business decisions. The result? Wasted search
efforts and decisions made in the absence of information.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 10
eBook • Case Study: Harris Corporation
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 11
eBook • The Link Between Knowledge and Economic Value
The Link Between Knowledge and Economic Value COMPONENTS OF S&P 500 MARKET VALUE
Calculating the return on knowledge is not a simple task, and yet it Source: Ocean Tomo
is important that organizational leaders think about increasing return 100
on this critical asset. Better knowledge can lead to measurable 83% 68% 32% 20% 20%
efficiencies in product development and production. Employees
use it to make more informed decisions about strategy, competitors,
80
customers, distribution channels and product and service life cycles. 80% 80%
However, generally accepted accounting principles do not record
these assets. 68%
60
Accounting research is coming up with ways to calculate the total
value of a company’s intangible assets, and, fortunately, techniques
are improving. One method is calculated intangible value (CIV).
40
This method overcomes the drawbacks of the market-to-book
method of valuing intangibles, which simply subtracts a company’s
32%
book value from its market value and labels the difference.
Because it rises and falls with market sentiment, the market-to- 20
book figure cannot give a fixed value of intellectual capital. CIV, 17%
on the other hand, examines earnings performance and identifies
the assets that produced those earnings. 0
1975 1985 1995 2005 2010
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eBook •The Link Between Knowledge and Economic Value
Within the last quarter century, the market value of companies in the
S&P 500 has deviated greatly from their book value. This value gap
indicates that physical and financial accountable assets reflected
on a company's balance sheet comprise less than 20 percent
of the true value of the average organization. Intangible book value,
or “goodwill,” is calculated by subtracting the tangible book value
from the market capitalization of a given company. Companies report
tangible book value per share, number of shares outstanding and
market capitalization. Therefore, intangible book value can also be
calculated by subtracting the tangible book value per share multiplied
by the number of shares outstanding from the market capitalization.
For example, as of February 14, 2013, Apple was worth USD 438.2 billion
(otherwise known as its market capitalization). Its book value (tangible
assets) was valued at USD 127.3 billion. Consequently, Apple's intangible
assets were worth USD 310.9 billion – or 70 percent of its total value.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 13
eBook • Case Study: Institut National D’Optique (INO)
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 14
eBook • The Next Wave of Value Creation
There is fierce international competition for every dollar of profit for knowledge management. Organizations need to start treating
in today’s global economy. Consumers and businesses have knowledge and knowledge workers as strategic assets in order
an unprecedented choice of goods, products and services. As more to compete and meet the challenges of the future.
and more organizations have found, they can no longer expect that
the products and practices that made them successful in the past will What if the next great phase of computing innovation and wealth
keep them viable in the present. creation is less about consumer adoption of new technologies
and more about unlocking the untapped value inherent in every
Companies now require service and product quality, value, innovation company’s disparate sources of data—from web sites, to social media
and speed to market for business success, and these factors will to email, CRM and ERP systems, to old Word and Excel documents
be even more critical in the future. There’s not much more companies stored in every computer of every employee? Imagine a world where
can do to innovate within the physical assets world. So where do we every document on any data platform is instantly organized, indexed
find the next great wave of value creation in the developed world? and searchable in much the same way consumers search the Web,
with natural language queries. Imagine if every company could
Increasingly, companies will differentiate themselves on the basis instantly become 10% more efficient?
of what they know – by tapping into their return on collective
Bruce Rogers, Forbes’ Chief Insights Officer, September 2012
knowledge, and by unlocking the value inherent in every company’s
disparate sources of data. Gaining real-time, relevant insight
and knowledge is the best way to empower employees and help
them perform their jobs exceedingly well.
Very few organizations are far along the maturity curve in dealing with
Big Data, but the incentive is there. The ability to address Big Data
is going to be the most intensive and important infrastructure
change for IT in the next decade. Moreover, it has major implications
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 15
eBook • The Road to Actionable Insight
To move from a state of insight deficit, to an “insight-full” organization, complex and secure enterprise information. Companies simply leave
21st century companies need to understand how to better connect the data wherever it resides – ERPs, knowledge bases, engineering
the dots and leverage information across all channels. Search databases, CRMs, emails and archives, desktops, point and home-
and relevance technology provides the least disruptive and most grown systems, social media, and cloud-based systems. Information
effective path forward. With this technology, fragments of information from all these systems can be consolidated and correlated within
are assembled on demand, regardless of where they are stored, a unified index – think of it as a virtual integration of information across
and served up to operational users within their context. Search systems from which companies can search and navigate, correlate,
and relevance technology securely ties together the vast variety consolidate and analyze information. From there, companies can also
of systems, both on-premise and in the cloud – email, databases, discover information relationships and trends that can be acted upon.
CRM, ERP, social media, file shares, etc. The technology securely No expensive integrations. No lengthy master data management
indexes those sources, unifies the data in a central index, normalizes projects or armies of consultants.
and enriches the information to uncover hidden relationships for new
insights. Search and relevance technology democratizes knowledge
access and makes it contextually relevant for each user, ensuring
that companies build on past knowledge rather than recreating
the wheel 90 percent of the time, as IDC is quoted earlier in this eBook.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 16
eBook • The Road to Actionable Insight
SEARCH HUB
Microsoft Symantec My
Local Email SharePoint
SOURCES Exchange Enterprise Documents
Archives Files Servers
Server Vault Server Folder
DOCUMENTS
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 17
eBook • The Road to Actionable Insight
Imagine how powerful it would be to combine what your customers With this level of insight across information silos, channels and
are saying about a new product release on Twitter, with the support departments, organizations can better serve customers and increase
cases being logged on that product and any defects logged in product innovation and quality and support decisions made across
an engineering database, and then feed that information back into the enterprise, as well as provide more dynamic, contextual customer
engineering, marketing and sales. Imagine enabling this much more interactions for one-to-one marketing. Companies who proactively
personalized and relevant conversation with your customer or prospect address their insight deficit problem and tap into the growing data
via your website. Where before, it would take an army of people spread across disparate systems to uncover important insight into their
inside your company several days to dig up information from multiple business will have a competitive advantage over those that do not.
sources to discover what your customers were saying about a new
Search and relevance technologies provide this and more. The
product, determine satisfaction rates, product bugs and issues,
ability to push relevant knowledge to employees based on what they
correlate them to your biggest and most valued accounts – only to find
are working on, in any instant. The future is here, and companies
when you discovered the problem and the trends, you lost your most
have the opportunity to leverage what is arguably their best strategy
valuable customer to the competition. Customer service and marketing
for increasing their intangible worth: Combining relevant information
teams with on-demand, actionable insight can deliver more consistent
with people, on-demand.
and satisfying, personalized customer experiences, thus helping
customers get more value from your products, troubleshoot any issues,
and finally, purchase more products and services.
© 2013 • Coveo Measuring Return on Knowledge in a Big Data World info@coveo.com • www.coveo.com 18
eBook • About Coveo
About Coveo
Coveo makes companies and websites more relevant and responsive, Coveo is a strategic partner of several leading software companies
by providing technology that delivers in real time the most relevant, such as Salesforce.com and Sitecore, and has been recognized
context-aware information for every employee, every customer and as a visionary by Gartner in its Magic Quadrant for Enterprise
every website visitor. Search. Among Coveo customers are leading organizations such
as Lockheed Martin, Rally Software, and SunGard. For more
Coveo’s transformational technology has been recognized as the most
information, visit www.coveo.com, and follow us on the Coveo
complete, end-to-end search & relevance platform available today.
blog, LinkedIn, Twitter and YouTube.
Coveo takes search to a new, more relevant level by securely connecting
with and harnessing an organization’s big, fragmented data from any
combination of cloud, social, and on-premise systems. The Coveo Contact Us United States
Advanced Relevance Engine injects the most relevant knowledge into www.coveo.com San Mateo, CA
the context of every user, focusing on three business areas to: info@coveo.com +1.800.635.5476