information innovation: turning insights into opportunities
DESCRIPTION
Presented by Rob Saccone at theTRANSCRIPT
Information Innovation: Turning Insight into OpportunityRob SacconeVice President, Product Management
insight
the capacity to gain an accurate and deep intuitive understanding
immediate and clear understanding that takes place without recourse to overt trial-and-error behavior
an understanding of relationships that sheds light on or helps solve a problem
insight
hindsight
foresight
insight people
technologydata
insight people
technologydata
insight people
technology
data
inside the firm
time and billing
contacts and activities
documents and records
outside the firm
news and events
public records
market data
social content
usage data
usage data
social content
in “the cloud”
benchmarking data
even more social content
articles and publications
shared firm content
news and events
public records
market data
usage data
social content
benchmarking data
even more social content
other shared firm content
your competition, and your clients, are watching…are you?
Data Collection
Data Processing
Information Generation
Knowledge Application
Data is entered or collected…
then cleaned, classified, related to
other data…
to create, organize, integrate, and
deliver information…
Source: “The value chain for information” @ http://liako.biz
that ultimately is applied to inform
decisions.
The “Information Value Chain”
Data is entered or collected…
then cleaned, classified, related to other data…
to create, organize, integrate, anddeliver information…
that ultimately is applied to inform
decisions.
Email and Contacts
Documents and Emails
Court Filings and Legal Proceedings
Hubbard OneMonitor Suite
Hubbard OneContactNet
Thomson ReutersCARE, KeyCite, etc
Contacts and relationships between people and businesses
Any Web / Text / Files / Docs
Thomson ReutersCalais
Competitive intelligence, legal activity trends, IP filings, deal
information and case outcomes
Named entities, legal topics and practice categories, citations
Named entities, facts, events
raw data into valuable informationThere are technologies that can refine
News and Social Media
ManzamaSentiment, mentions and
references
between all of your sources of data – automaticallyThere are technologies that provide plumbing
Email and Contacts
Documents and Emails
Court Filings and Legal Proceedings
Web / Text / Files / Docs
News and Social Media
Thomson Reuters Content
Public Records
Competitive Intelligence
Legal Research
Client Financials
Matter History
Contacts and Activities
Documents, Records, etc.
Public Records
Legal Activity
Competitive Intelligence
News and Events
I’m meeting with Client XYZ in 10 minutes!
Here’s all we know about Client XYZ!
There are technologies that simply speed up production and reduce costs
There are technologies that can help you “see” the answers
More than dashboards and reports…
combine all sources of data to provide insight
and analysis
…but first need to solve fundamental challenges around data quality and
completeness
Ultimately, data plus technology provides insight to people that want to make better decisions.
But do they know what they are looking for?
?
“A shortage of the managerial talent necessary to make the most of big data is a significant and pressing challenge and one that companies and policy makers can begin to address in the near term…
…the United States alone faces a shortage of 140,000 to 190,000 people with deep analytical skills as well 1.5 million managers and analysts
to analyze big data and make decisions based on their findings.”
Source: McKinsey Global Institute - May 2011 Big Data Executive Briefing
“big data”
“data scientist”
Source: www.indeed.com/jobtrends
CFO
CKO
CMO
CIO
Get your **** together!
MP
Wicked smaht tips
Start where you are
Ask crunchy questions
Listen carefully
Accelerate insights
Enhance visualization capabilities to engage users
Build a fact-driven culture
Practice right-fit analytics
Source: Deloitte, “Crunchy Questions for Sticky Issues”, http://www.deloitte.com/us/crunchyquestionsflash
