Saturday, November 1, 2014

Analyze This!

By John Trimble

Analytics is the new multi-industry buzzword. In sports it is a new argument inducer; the flashpoint  term being code for “Moneyball” gone mad with statistical probability spreadsheets versus the suspect Luddite but cherished concept of believing one’s  own eyes when assessing player and team performance. Listen to Sports radio for an hour and you will hear it debated. Hotly.

But in Information Management Analytics is not debated. In fact, it is achieving Holy Grailish status and rightfully so. As soon as people see it, understand it just superficially, they want it with no leap of faith required.

A prominent software company achieved their long time strategic goal of being placed in the coveted Gartner “Magic Quadrant” simply due to their software’s strength of Analytics in their new release. Analytics is a major component of the cresting concept of “Information Governance” with its thesis of combatting information overload by requiring the ability to leverage that information mass, to use it and not drown in it. Gartner told them that if they had started the software review by showing the Analytics features they could have “saved a lot of time” Yes, Analytics in Information Management now has that much oompf, that much cachet.

Back to sports: If you imagine for a second Peyton Manning calling out a play at the line instead of hearing ‘Omaha, Omaha” the evolution of Analytics could sound like this:

Store -Capture – Retrieve – Workflow – Analytics – Hut!

Knowing from your AP workflow how many invoices are being processed and what percentage will be done by end of day, week or month and what dollar amounts are projected to be unpaid is one simple example. Upward and onward, we go from there…

Analytics is the ability to strip information from your documents and put that information in a fluid, digestible, highly useful snapshot of real time information…to quote the 1940’s” it is news that you can use”. It is a very big deal and has the potential to change everything.

Analyze that….

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