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Why Knowledge Once Again Tops the CEO Agenda, in a New and Better Way

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Knowledge Management has failed to achieve the goal of shared, ubiquitous, dynamic and contextually relevant enterprise knowledge at the worker's and customer's fingertips. Despite the failure, the …

Knowledge Management has failed to achieve the goal of shared, ubiquitous, dynamic and contextually relevant enterprise knowledge at the worker's and customer's fingertips. Despite the failure, the recognition of knowledge as a critical asset, under-utilized and yet fundamental to business agility and competitiveness is again at the forefront of the executive suite.

The CEO's #1 challenge is responding to customers and marketplaces with greater relevance and immediacy. CEOs realize that relevant knowledge -- everywhere -- is their key competitive differentiator and likely the greatest source of profitability.

In this presentation you'll learn:

1) The top 3 reasons why traditional KM has failed, and why CEOs have an urgent need to address it.

2) How to embrace collective knowledge wherever it resides and access experts to ensure greater relevance to customer needs.

3) Why contextual knowledge access will be the next wave of value creation for organizations.

4) Why applying technology to reach, correlate and contextualize knowledge and experts from anywhere will transform KM initiatives.

5) How to unleash the value of traditional ECM and collaboration platforms.

6) How to compute the financial benefits of these new KM initiatives.

Listen to the recorded presentation at http://pages.coveo.com/WhyKnowledgeTopstheCEOAgenda.html

Published in: Business, Education

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  • 1. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL2 Speaker Louis Tetu, CEO Coveo background: ► Founder, CEO, Chairman Taleo [NASDAQ: TLEO] ► President, Baan Supply-Chain Solutions areas of expertise: ► knowledge management ► talent management ► supply-chain management Listen to the live narration here!
  • 2. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL3 About our mission is to be the no1 company in the world search & relevance technology solutions “My top recommended search platform, due to its "faceted search and dynamic integrations.” John Ragsdale, VP Research “Excellent search across structured and unstructured sources” + “strong visualization and dashboarding tools to present search results in very consumable ways." Kate Leggett, Principal Analyst Speaker Louis Tetu, CEO Coveo background: ► Founder, CEO, Chairman Taleo [NASDAQ: TLEO] ► President, Baan Supply-Chain Solutions areas of expertise: ► knowledge management ► talent management ► supply-chain management
  • 3. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL4 About for knowledge management search & relevance technology solutions 700 installations 500+ customers globally, 2M users 150 experts · 75 R&D R&D in search, indexing & relevance, & big data Global alliances 3 Lines of Business One search & relevance technology platform Knowledge management Customer service Websites search & content personalization 1 2 3
  • 4. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL5 our DNA is thought leadership Speaker Louis Tetu, CEO Coveo background: ► Founder, CEO, Chairman Taleo [NASDAQ: TLEO] ► President, Baan Supply-Chain Solutions areas of expertise: ► knowledge management ► talent management ► supply-chain management
  • 5. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL6 why technology is the search & relevance catalyst for KM • x why is only in context knowledge relevant why embrace collective wherever it resides including… knowledge everywhere people Top reasons why to deliver on user expectations KM often fails? • x in business and why it is the of what is knowledge? next big wave value creation? we will discuss… • x • x examples & benefits financial
  • 6. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL7 2 fundamental KM challenges Knowledge is everywhere. Users are craving relevance.
  • 7. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL8 why technology is the for search & relevance catalyst knowledge management? People KnowledgeData Information
  • 8. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL9 most people think about as efficient from systems of record …and yes it is that also… search technology retrieval
  • 9. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL10 Knowledge/data/content is without relevance useless
  • 10. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL11 inability to deliver/obtain the most affects business and lack of relevance is across most enterprises relevant knowledge pandemic
  • 11. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL12 inability to deliver/obtain the most affects relevant knowledge sales service online operations … …relevance to customer needs …relevance to customer issues …relevance to user needs …reinvent the wheel
  • 12. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL13 transactions stall or fail due to innovation is slower due to… with important knowledge gaps economic impacts lower sales & conversions customer satisfaction lower quality service NPS & customer churn taking less relevant products to market
  • 13. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL14 companies create … by responding to with greater immediacy and shareholder value customers relevance …employees taking better actions to respond to customer needs profitably:  innovation: value added products that differentiate competitively  sales: alignment with customer needs to create more revenue  customer service: better service improves relational capital and market permissions
  • 14. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL15 back to basics: what is in business? knowledge “Human understanding of a subject matter acquired through study and experience” “Human ability to exercise judgment and take action facing varied situations.“
  • 15. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL16 in business …a human to take …a form of competence knowledge ability action “Human understanding of a subject matter acquired through study and experience” “Human ability to exercise judgment and take action facing varied situations.“ 2 types of knowledge ► Explicit knowledge is codified in documents, books, files, databases, spreadsheets, web, social media, ... ► Tacit or Expert knowledge is information woven inside the mind of an expert, through experience, and measured by the quality of their decision making
  • 16. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL17 formal definitions for process of capturing, and effectively of and in organizations knowledge management distributing using knowledge
  • 17. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL18 formal definitions for process of capturing, and effectively of and in organizations knowledge management distributing using knowledge ► "Knowledge management is a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise's information assets. These assets may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers.“ ► … a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption and sharing of insights, experiences and lessons learned… ► The expertise gained is a product that can be sold to other organizations, hence the potential to link a dispersed organization and share knowledge… ► …recognition of knowledge as essential asset to be deployed broadly across an organization… ► The most central thrust in KM is to capture and make available, so it can be used by others in the organization, the information and knowledge that is in people's heads as it were, and that has never been explicitly set down.
  • 18. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL19 Knowledge a) drives effective & more relevant business b) is an asset with huge return opportunity
  • 19. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL20 Enterprise value = $3B if this were your …how would you get return? balance sheet? [ROA]Tangible assets $1B  [goodwill] brand, market permissions, information permissions, relationships, … Relational capital + $1B "Knowledge is often an organization's highly valuable asset, yet like any asset it will yield return only if front-line employees, managers and customers can use it to take action."  know-how, processes, information, competences, people & experts, … Knowledge capital/asset + $1B [ROK?]
  • 20. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL21 the ecosystem is opaque to hence the asset is poorly (latent*) knowledge front-line staff reutilized *(la·tent [leyt-nt] ): Latent can mean "hidden", "presently inactive" or "potentially existing but not yet realized.”
  • 21. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL22 challenge collective knowledge available & relevant what is the with putting the to work, making it for business? (the hallmarks of KM)
  • 22. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL23 vetted content necessarily is not relevant • x companies confuse vs. (a transferable commodity) knowledge information • x knowledge is not unless it is in relevant context • x consider these about management… ideas knowledge people are willing knowledge unless there is won't contribute context & audience • x knowledge is …not just in ECM or KBs everywhere • x • x
  • 23. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL24 companies confuse with (a transferable commodity) knowledge information People KnowledgeData Information  = knowledge capital = asset  Experts with knowledge, social or information permissions  Human ability to exercise judgment and take action facing varied situations  Facts, numbers or individual entities without context or purpose, structured or unstructured  Data that has been organized to aid decision making
  • 24. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL25 people by finding knowledge …the informal gets things done everywhere organization "most workers in bigger companies (65%) rely on one another, not management, to solve problems... and many (37%) ignore company rules , processes and systems because they have better way to get things done." Katzenbach Partners LLC survey The study confirms that the "Informal Organization" is where most employees turn to find job satisfaction. ► Experts are the knowledge workers who “understand how things are done around here”… they are everywhere in the organization, not only where corporate IT systems think they are.
  • 25. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL26 People are willing to but they are given a and an share knowledge won't unless context audience
  • 26. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL27 is knowledge everywhere ► …if people won't feed the central system, then knowledge is everywhere Systems, content, & knowledge sources proliferate
  • 27. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL28 knowledge has to employees unless it is no value in context not systems people drive relevance
  • 28. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL29 vetted content is …but not necessarily accurate relevant not systems according to a) who they are (physical) b) what they work on (situational) c) what they know (cognitive) people drive relevance context:
  • 29. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL30 hence talking about without talking about makes no sense KM relevance not systems according to a) who they are (physical) b) what they work on (situational) c) what they know (cognitive) people drive relevance context:
  • 30. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL31 companies confuse vs. (a transferable commodity) knowledge information • x quick reality check… differs from KM conventional IT thinking knowledge is …not just in ECM or KBs everywhere • x • x vetted content necessarily is not relevant • x knowledge is not unless it is in relevant context • x people are willing knowledge unless there is won't contribute context & audience • x
  • 31. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL32 from a pure IT prospective like a new requirement KM looks system of record ► Organizations often treat knowledge as a transferable commodity that can all be stored in a system of record, retrieved and used mechanically. ► Definition of KM is not centered around IT. ► While KM is facilitated by ECM, ECM by itself does not meet KM goals.
  • 32. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL33 the standard (processes & components) the (and with high economic consequences) KM framework fails to dazzle end user 1 Content management applications  …fail to reach and deliver all - and relevant - content 2 Lessons Learned [best practices] databases  …fail to reach people and the informal organization 3 Expertise locator applications  …cannot surface the real experts through the content 4 Collaboration platforms for (CoPs)  …are simply overwhelming and lack context & relevance
  • 33. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL34 design intent of platforms collaboration ► the design intent of collaborative software is to transform the way documents and rich media are shared to enable more effective team collaboration. ► Collaboration software provides tools for groups of people or organizations to share information and coordinate activities. ► Enterprise Content Management (ECM) is the strategies, methods and tools used to capture, manage, store, preserve, and deliver content and documents related to organizational processes, within the entire scope of an enterprise.
  • 34. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL35 companies confuse vs. (a transferable commodity) knowledge information • x so how can we management? unleash knowledge knowledge is …not just in ECM or KBs everywhere • x • x vetted content necessarily is not relevant • x knowledge is not unless it is in relevant context • x people are willing knowledge unless there is won't contribute context & audience • x
  • 35. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL36 requires a strategy to ubiquitously it resides, including KM reach knowledge everywhere people …and in context
  • 36. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL37 people work on situations… …they need the of knowledge intricate & unique “Amazon idea” access & relevance
  • 37. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL38 people work on situations… they need the of knowledge intricate & unique “Amazon idea” access & relevance all the books available, relevant to one/you! Myrmecology from Greek: μύρμηξ, myrmex, "ant" and λόγος, logos "study") is the scientific study of ants, a branch of entomology.  available on Amazon …there are more myrmecologists-types within organizations than most would think…
  • 38. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL39 example: we cannot predict nor will come from customer interactions where the answer hence we need personalized injected into the dynamically and answers from everywhere in-flight task in context
  • 39. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL40 if knowledge is reach it if only knowledge matters bring it in relevant context everywhere everywhere
  • 40. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL41 focus on the fundamental of using not mining knowledge goal focus on broad and access relevance to deliver to end-users contextualize relevance reach who are experts people designing KM for success what is the that want? KM users reach knowledge everywhere
  • 41. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL42 Federated Content is powerful it can reach and securely any search & indexing technology harness content ► Moving data is a losing game! Sources proliferate. Unified indexing is the essential first step to harness big, fragmented data. ► A unified index can connect, harness and contextualize vast quantities and variety of information, delivering relevant knowledge at the speed of business. Fragmented · Big Data
  • 42. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL43 is powerful it can bring into search & relevance technology content context
  • 43. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL44 S&R can also who are experts …through the they leave reach people traces in the content ► Experts can be found through the content and traces they leave within systems, including the relevant content they care about. ► Democratizing knowledge access eliminates the use of bad information, by linking people to content relevance and increasing relevance for everyone.
  • 44. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL45 Connect Harness Contextualize Engage How search & relevance technology work Fragmented Content [Big data] · Cloud · Web · Social On-premise · dBs · ECM · Docs · CRM · email … · Structured · Unstructured Secure Connectors Crawl content sources Connect
  • 45. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL46 How search & relevance technology work Connect Harness Contextualize Engage Text analytics Entity extraction Themes extraction New entities, tagging, … Unified Index Federate & enrich content Harness Fragmented Content [Big data] · Cloud · Web · Social On-premise · dBs · ECM · Docs · CRM · email … · Structured · Unstructured Secure Connectors Crawl content sources Connect
  • 46. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL47 How search & relevance technology work Connect Harness Contextualize Engage Relevantcontent/people=Betteractions Text analytics Entity extraction Themes extraction New entities, tagging, … Unified Index Federate & enrich content Harness Fragmented Content [Big data] · Cloud · Web · Social On-premise · dBs · ECM · Docs · CRM · email … · Structured · Unstructured Secure Connectors Crawl content sources Connect Interact & refine Insight consoles Engage Situation context: · Customer, account - Case, claim · Project, product · Website
  • 47. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL48 How search & relevance technology work Connect Harness Contextualize Engage Relevantcontent/people=Betteractions Text analytics Entity extraction Themes extraction New entities, tagging, … Unified Index Federate & enrich content Harness Fragmented Content [Big data] · Cloud · Web · Social On-premise · dBs · ECM · Docs · CRM · email … · Structured · Unstructured Secure Connectors Crawl content sources Connect inform relevance with: • Physical (who you are) • Situational (task you are working on) • Cognitive (what you know/care about) Advanced relevance engine Configure & control relevance Contextualize Interact & refine Insight consoles Engage Situation context: · Customer, account - Case, claim · Project, product · Website
  • 48. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL49 An example within Salesforce.com · detailed demo at http://www.youtube.com/watch?v=x_jOmDEF_FM&hd=1&wide
  • 49. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL50 computing that the CEO will care about economic return • $6 Mil ROI for a 600-user deployment [Fortune 50 Healthcare company] • 63% increase in self-service website logins, 92% increase in document downloads, increased membership renewals [large global technology association] • Increase of 11% in profits during a down economy due to better use of knowledge [large engineering firm]. • Faster time to market with more innovative products [Fortune 50 healthcare company] • $7 Mil ROI from a single found document [F500 aerospace & defense contractor] • Improved mean-time-to-repair for targeted worst-case-scenario events by up to 28% [global electronics manufacturer] • Cut case resolution time by 20%. Improved online customer satisfaction by nearly 2 points since implementation, collectively a rating of 93.4% [software company in the government sector] • Time to customer service case resolution down 15%. Issue volume increase of 15%, customer service headcount reduction of 5%. Increase in customer self- service satisfaction by 10%. [F100 technology company] “Without Coveo, finding appropriate correlations would depend on a superhuman ability to predict what considerations you’ll need to apply to information. It’s otherwise impossible. It’s the only way to deal with the explosion of content that we’re seeing. People just won’t be able to do their work without Coveo in the future.” [asset management company, financial sector] “ROI is time savings and the value of increased innovation, more connectivity among employees, faster and more accurate program bids, and overall increased productivity.” [aerospace & defense contractor] Case studies & company references at www.coveo.com
  • 50. Copyright © 2013 Coveo Solutions Inc. - All rights reserved. Proprietary and CONFIDENTIAL51 we measure success in and user adoption financial return Case studies & references at www.coveo.com
  • 51. More information Case studies Free trial www.coveo.com

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