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This presentation provides a look into the anatomy of an optimal decision to help turn information into business advantage. You need context, perspective and insight - you need to see beyond the ...

This presentation provides a look into the anatomy of an optimal decision to help turn information into business advantage. You need context, perspective and insight - you need to see beyond the information. It describes EMC Documentum xCP, business activity monitoring, search and information discovery, auto-categorization, and rules capabilities.

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  • According to IBM’s Institute for Business Value (2009) - 80% of Business leaders make major decisions with incomplete or mistrusted information.How do you feel about that?TELL A STORYHave a critical position to fill in your organization? Time are tough. Opening do not come by that often. You have to make the right hiring solution.You have found and interviewed several candidate. Now is time to decide. Did you get all the information you needed about the candidates? Is there other information out there you should know about? Did you get all the points of views you needed to help you make your decision? Can you be confident that you will pick the right person for the job? How do you make an optimal decision?LACK OF CONTEXTCase Management provides information workers with the right information in context, providing support and guidance that enabling them to affectively guide systems processes to handle exceptions and make better business decisions overall. Take the example of the “Flash Crash” of May 2010. The market lost $900B in equity in less than 20 minutes. A trader executed a large volume based order to mitigate risk and sold 35000 contracts in 7 minutes… worth $4.1 B in trade. What context was available to justify this decision. A bit more context would have prevented this and not just accounted for trade volume.LACK OF PERSPECTIVEPoor process automation and lost documents cause delays that can drive risky system work-rounds that not only affect customer service but are costly and potentially criminal. Robo-signers have been approve very risky loans with out any notion of what the consequences might be. Defective documentation due to poor process enforcement has created millions of blighted titles that will plague the nation for the next decade. Banks exposed themselves to up to $2B / months losses…LACK OF INSIGHTSupporting knowledge worker with task specific content incorporated in an end-to-end process can speed case closure and enable expert review of exception activity, while ensuring corporate procedures and regulations are followed. Take the example of Medicare Fraud many of which initiate from Miami: Miami’s average cost for each Medicare home health care patient with diabetes and related illnesses runs $11,928 every two months, according to a new HHS report—32 times the national average of $378. What is wrong with this picture?
  • Lack of good tools to leverage information does not only affect others. It affects you too. The cost of not finding information is about $5,974/information worker according to IDC.You spend a day a week looking for information. That’s a lot of wasted resources and reduced productivity. $2.5 M a year of opportunity cost to a 1000 person organization. Imagine what more you could do if you got that time back.
  • Optimal Decision Making based on knowledge.
  • So what does it take to make an optimal decision. What does it take to hire the best candidate for a job? Avoid those costly mistakes and make your organization more efficientCONTEXT:You need to understand what is the information available in your context. Is there a piece of information that if you had it would make hiring that candidate a no brainer?Typically, you cannot find that information or do have it…PERSPECTIVE:You need to understand other points of view that can inform your decisionGet rid of those information silos, where nothing can be found. A 2007 Accenture study found that only 16 percent of content is posted to a location within the enterprise where it can be accessed by other workers.Leverage the external information that is relevant to the decision making processINSIGHT:You need to understand the big picture. How does this candidate compare to that other one?OPTIMAL DECISION:All of this for you to make a optimal decision and FAST…Fewer errors, protect your assets, and be able to go back and justify why the decision was made
  • Presenter notes:Context, Perspective, Insight are really part of an insight loop, where by iteratively one can eliminate non-optimal decision and arrive at the optimal decision.
  • Let’s take another example: Investigative Case Management. How in those instances can you turn information into business advantage. Let’s start with a concrete example. Remember the BP Oil spill of last year in the Gulf of Mexico, 11 persons died. A complex investigation by the DOJ ensued requiring the collection and discovery of significant amount of information and the analysis and correlation of that information in the context of the investigation.Let’s take other examplesAuti-money launderingFraud and complianceAudit investigationRegulatory investigationLegal researchM&ACriminal investigationsThose types of applications share common characteristics.They need strong analytics
  • Now that we have looked at examples where decisions have a significant impact. What capabilities does this require?
  • Case Management requires a broad range of capabilities. Naturally it requires Process Management, but also document management, and collaboration, So if Case Mgmt requires all these technologies, how does it differ from ECM? The major and fundamental difference is that everything revolves around and is driven by the “Case.”The conceptual structure of a case pulls together everything that an old manila folder would contain, all the documents or content files, but more than that is aggregates and orchestrates all the data, relevant rules, policies, processes, and discussion threads that are relevant to that specific case instance. And the case templates can ensure consistent and accurate handling of case processes as the cases move through their individual lifecycles. Let’s look at another difference… Note to Presenter: This note can be added if you want to highlight an additional differentiator of xCP. What else is unique about our case management today is that many of the behaviors of the case would have historically required customizations, things like case folder templates and behaviors at different lifecycle states are now configurable and can be orchestrated by the case metaphor.
  • Now let’s look at each pillar at a time.
  • Content Intelligence Services – Entity Discovery and Categorization
  • Now that you have added metadata,here comes xPlore.It also should be noted that FAST Instream is EOL by 31 December 2012 and that xPlore is the replacement – the field should make sure their customers have their migration plans all set - they should contact the xPlore team if they have any questions.
  • Leveraging CIS & xPlore in Taskspace, CenterStage and a custom client through DFC.
  • Leveraging CIS & xPlore in Taskspace, CenterStage and a custom client through DFC.
  • Now that you have context, you understand the information available to you, what other points of view can you leverage?Another example from Integrated Justice (story on web):Killed by a man who should have been behind bars; killer had a warrant for his arrest in Collier County (FL); but when he appeared before the judge I Lee County for an unrelated charge, the judge freed him. At the time, warrant searches were done by hand and officials didn’t check state or national databases.Lee County did not have the perspective of Collier County regarding the killer. Causing a poor decision to be made - causing the loss of life.With automated federated search, different perspectives from different systems can provide a “big picture” of a subject of interest and corroborate or contradict what you already know.
  • Adapters contain property mappings that map external results to dm_document properties
  • Activity Template contains templates for direct external data integration.
  • It is essential to be able to visualize information such that you can see beyond the information.
  • People react to visual cues more than text.
  • BAM Dashboard – gaining insight into how a process is performing, how cases are moving through a workflow.
  • Custom client built with DFC shows facets exposed on maps and timelines to show anomalies in data – providing insight.
  • Take the example of a warranty request. Imagine a company managing a large fleet of vehicles. Each vehicle might have part failures. If the same parts start failing repeatedly in different places, how do you know. How do you proactively find the correlation so that you can initiate warranty request against the manufacturer.You need insight and to take action on the insight. Greenplum can enable you to rapidly find those correlations and xCP enable you to take action to recover, and track your warranty requests and enable you to get the compensation you deserve.
  • BACK TO THE STORYRemember that hiring decisionI know all I need to know about the candidate. The relevant articles they published and public work, the public presentations they gave. I have ContextI have leverage relevant external information and people to help me make my decision. I have perspectiveI can develop a decision model to help me make the best decision. I have insight.I can make the most optimal decision

Turning information into business advantage   for slideshare Turning information into business advantage for slideshare Presentation Transcript

  • Turning Information into Business Advantage
    Leveraging Search & Analytics - Get the Most from Your Content and Business Processes
    Samir Batla, Principal Product Manager
    Search & Analytics, IIG
    • High rate of Health Insurance and Medicare fraud and reimbursement errors
    • Automated mortgage decisions made without consideration for the declining housing market
    • Financial firm executes $4.1 B automated trade
    • Lack of guidance and effective exception handling
    • Costly errors in processes and decisions
    • High risks mortgages approved
    • Highly-automated decision systems prone to faulty decisions
    • Volume based trading algorithm ignoring pricing
    • Automated risk management strategy
    • Cost to Medicare between $11B to $60B a year
    • % of loans delinquent by 90 days reached 9.5% in 1H 2010 (up from 4% in 2008)
    • “Flash crash” wiping out $900B in equity market in 20 minutes
    LACK OF PERSPECTIVE
    LACK OF CONTEXT
    LACK OF INSIGHT
    Lack of Confidence in 80% of Major Business Decisions
  • 1,000 knowledge workers waste nearly $2.5M per year, due to an inability
    to locate and retrieve information
    25%
    6-10 hrs
    SPENT SEARCHING FOR THE RIGHT INFORMATION TO COMPLETE A TASK
    HOURS SPENT SEARCHING FOR INFORMATION EACH WEEK
    WASTED RESOURCES
    REDUCED PRODUCTIVITY
  • “What makes knowledge valuable to organizations is ultimately the ability to make better the decisions and actions taken on the basis of the knowledge.”
     Working Knowledge: How organizations manage what they know,
    Thomas H. Davenport, Laurence Prusak
  • PERSPECTIVE
    • Make the best possible decision
    • Decide rapidly
    • Understand the big picture
    • Understand other points of view and contexts
    • Understand the available information in your context
    • Fewer errors, significant savings
    • Protect assets
    • Maintain an audit trail of why the decision was made
    • Explain, describe, and predict
    • > 84% of enterprise information in silos
    • Integrations with other sources of information is imperative
    • Searches are successful less than 50% of the time due to lack of contextual searching
    OPTIMAL
    DECISION
    CONTEXT
    INSIGHT
    Anatomy of an Optimal Decision
    IMPROVE EFFICIENCY
    ACT WITH CONFIDENCE
    DISCOVER
    RELATIONSHIPS
    EXPAND
    YOUR REACH
    ENRICH THE
    INFORMATION
    Expand the Channel
    Expand the Channel
    Expand the Channel
    Expand the Channel
  • Iterating to Get to the Optimal Decision
    INSIGHT
    Eliminate decision alternatives methodically by iterating rapidly
    OPTIMAL
    DECISION
    PERSPECTIVE
    CONTEXT
  • An Example: Investigative Case Management
    Key Characteristics
    Investigations require exploring information to discover trends, and patterns
    Have a high reliance on unstructured content and processes and collaboration: the investigation
    Mistakes can have high impact
    Need for Strong Analytics
    Optimal investigative decisions require robust content analysis, process analysis and high quality search experience
    Compliance to keep audit trail of why a decision was made
    ANTI-MONEY LANDERING INVESTIGATIONS
    LEGAL
    RESEARCH
    MERGERS &
    ACQUISITIONS
    REGULATORY
    INVESTIGATIONS
    FRAUD & COMPLIANCEINVESTIGATIONS
    AUDIT
    INVESTIGATIONS
    CRIMINAL
    INVESTIGATIONS
  • PERSPECTIVE
    • External Search
    • Integration with external systems (REST, Big Data)
    • Human Decisions
    • Automated Decisions
    • Automated Processes
    • Visualization and relationship navigation
    • Predictive analytics
    • Rules and business events / alerts
    • Metadata Discovery
    • Text Mining
    • Concept Based Search
    • Information Lifecycle
    • Is there other related or similar information?
    • Is the information reliable?
    • Can I be pro-active?
    • Are there other points of view?
    • Is there external information to support what I already know?
    • Can I be confident in my decision?
    • What is the information about?
    OPTIMAL
    DECISION
    CONTEXT
    INSIGHT
    IMPROVE EFFICIENCY
    ACT WITH CONFIDENCE
    DISCOVER
    RELATIONSHIPS
    EXPAND
    YOUR REACH
    Expand the Channel
    Expand the Channel
    Expand the Channel
    Anatomy of an Optimal Decision: A Capability View
    ENRICH THE
    INFORMATION
    Expand the Channel
    COMPLIANCE
  • xCP: All Critical Elements Managed Together
    Data
    People
    Process
    Content
    Collaboration
    Communication
    Events
    Reporting
    Policies
  • Context
    Metadata and Relationships
    Relationships provide richer context and are essential to discovery
    Even the most basic relationships such as shared metadata, provides richer context on content:
    Cases related by categorizations or shared subjects (of an investigation)
    Documents related by shared metadata (company names, locations, people, etc.)
    Relationships need to be first-class citizens in the data model and support metadata about the relationships
    Enable to draw conclusions from the relationship itself
    CONTEXT
  • How to Get Context with xCP?
    Content Intelligence Services
    Perform content analysis on Case Content
    Use extracted metadata to discover relationships and provide concept-based search (via xPlore)
    Leverage metadata exposed by xPlore as facets for faceted navigation
    Through categorization
    Taxonomy driven and based on prior knowledge – the taxonomy
    Helps the information worker understand what the content is “about”
    Through entity discovery
    Natural Language Processing driven and no prior knowledge assumed
    Helps the information worker understand what entities (e.g. people, places) were discovered in the content
    Drive downstream processes based on new metadata
    Trigger a process or alert information workers when new content is categorized in a taxonomy
    Spawn another search for more information when new entities are discovered
    CONTEXT
  • How to Get Context with xCP?
    xPlore
    Secure enterprise quality search for structured and unstructured information
    Concept-based search
    Approximate term matching
    Index metadata added by Content Intelligence Services
    Text mining adds semantics to information
    Index information imported from external systems
    Faceted Navigation
    CONTEXT
  • Leverage Context Added to Information
    With CIS and xPlore
    Facets in TaskSpace
  • Leverage Context Added to Information
    With CIS and xPlore
    Article for exposing facets in a custom client: https://community.emc.com/docs/DOC-9545
    Facets exposed in a custom client
  • Perspective
    A Different Point of View
    Another point of view paints a comprehensive big picture
    Provides the information worker with other perspectives on a case, subject or document
    Provides information workers with more confidence to act and make a decision
    Brings more value to analytics
    Augment case information
    Federated Search / External Search
    Data Integration with External Systems
    PERSPECTIVE
  • How to Gain Perspective with xCP?
    Federated Search Services
    Search external system indexes
    Through out-of-the-box search adapters
    Other EMC products
    Web and content sites
    Other ECM vendors
    Through custom adapters
    Built using the Federated Search Adapter SDK
    Through the Federated Search activity template
    For scheduled search queries
    Augment current context by importing external results
    Analyzed by Content Intelligence Services
    Indexed by xPlore
    PERSPECTIVE
  • How to Gain Perspective with xCP?
    Activity Templates
    Leverage external information in the context of business process or exposed in the application
    Through activity templates that integrate with external systems
    Through CMIS integration with other content repositories
    PERSPECTIVE
  • Insight
    Understanding and Seeing Beyond the Information
    Visualization allows information workers to gain insight without excessive trial-and-error searching
    Expose similar or related information
    Expose metadata about the information – e.g. temporal, provenance
    Expose information in contextual visualizations – e.g. maps, timelines
    Automated processes and information workers become more proactive
    Govern operational decision-making tasks through rules
    Allow processes to be more dynamic
    Rapidly adjust to changes in the business environment
    Enable information workers to rapidly identify issues based on alerts and trends
    Gain better confidence in your decisions through predictive analytics
    INSIGHT
  • How to Gain Insight with xCP?
    Information Visualization
    Visualize the information needed to make a decision
    Through BAM dashboards
    Navigate real-time and historical data
    Drill-down to get more detailed information
    Track trends and take action based on those trends
    Through visual representation of xPlore facets
    Quickly understand what a result set is about
    Leverage that insight to locate the right information
    INSIGHT
  • Business Activity Monitoring Dashboard
  • Contextual Visualization of xPlore Search Results
    Beyond the data: High incidence in Canada
    Beyond the data: Occurrences peaked in 1994
  • How to Gain Insight with xCP?
    Business Rules, Alerts and Predictive Analytics
    Improve the efficiency of decisions
    Through integration with rules engines such as Corticon
    Create business rules in a business friendly way
    Change the rules to meet business needs
    Through alerts
    Leverage historical trends and SLAs to trigger proactive actions
    Through integration with predictive engines and data computing environment such as Greenplum
    Mining large amounts of external data
    Assess the risk factor of decisions
    INSIGHT
  • Insight Drives Optimal Decisions
    Better Understanding Drives Better Actions
    Context and perspective
    Information workers interact with information in their own terms and can leverage other points of view
    Insight
    Information workers can now see beyond the data and can determine its relevancy to their tasks
    Optimal Decisions
    Optimal decisions can be made with confidence, efficiency and with fewer errors
    Reduce waste and protect assets
    Increase information worker productivity
    OPTIMAL DECISIONS
    • Make the best possible decision
    • Decide rapidly
    • Understand the big picture
    • Human decisions
    • Automated and pro-active decisions
    • Automated processes
    • Visualization and relationship navigation, predictive analytics, rules and business events / alerts
    OPTIMAL
    DECISION
    INSIGHT
    IMPROVE EFFICIENCY
    ACT WITH CONFIDENCE
    DISCOVER
    RELATIONSHIPS
    Expand the Channel
    Expand the Channel
    Making an Optimal Decision
    PERSPECTIVE
    • Understand other points of view and contexts
    • Understand the available information in your context
    • External search and integration with external systems (REST, Big Data)
    • Metadata discovery, text mining, concept based search and information lifecycle
    CONTEXT
    EXPAND
    YOUR REACH
    ENRICH THE
    INFORMATION
    Expand the Channel
    Expand the Channel
    COMPLIANCE