Do you know this in your company as well? Besides many automated processes and system support, there is the creation and editing of texts. Even though these documents are often stored electronically, the data from contracts, letters, notes, and other documents are often not reusable. At the same time, the creation of such documents is often time-consuming and not very quality-assured, even though content is also an important data source.
Sensor data, artificial intelligence, business intelligence (BI) or customer and sales data are important data areas that are often already intensively considered in companies. At the same time, there is a lot of potential for improvements in daily routine processes. Often these can be pragmatically improved through the sensible use and linking of data and information.
Texts are a central element of daily operations. Texts, especially in the form of letters, notes and contracts control processes with their content and data. At the same time, their creation is often time-consuming and, in many companies, not very structured. At the same time, these texts contain the knowledge, but also the legal obligations of a company.
An exercise in the DataValueThinking workshops is to explore the different data areas or data zones of the company. One of these zones is also the content area. Here the most different text or knowledge content of the company is examined. The following observations have repeatedly come to our attention.
Manage and create the data treasure of contracts
Companies have many service providers and other permanent contractual relationships that are not actively managed or monitored. Whether service levels can be maintained or whether upcoming contract renewals can be used to improve conditions is not automatically monitored, since contracts are often stored as unstructured documents that cannot be evaluated. The creation and conclusion of contracts as well as their administration, is also not very standardized. A faster creation of contracts can be achieved by using and, if necessary, reusing text modules. Their administration should be comprehensively supported by a best practice workflow and thus also enable revision-compliant work. Many of such applications can be used pragmatically and be implemented with little effort.
The Potential of Text Analysis
A lot of the text and content in companies is stored electronically but it is stored as unstructured information. Data are distributed throughout the company and therefore has little or no evaluability or structured use. The knowledge about the contents and storage locations is distributed among the employees and leads to duplication of work. Often the company is aware of the situation but does not see any feasible solutions. In this context, the efficiency and capability of modern text analysis systems, which enable the subsequent structured filing of existing texts, is often underestimated.
Of course, it is not enough to point out ideas and observations in workshops. It is also important to provide suggestions for possible solutions based on real world experience. Here we also make use of our technology partners, who in turn use the results and presentations of DataValueThinking for their own positioning. A good example is our partner GuidelinePro. GuidelinePro is an intelligent workflow-controlled software for the creation, management and distribution of text module-based documents, which is offered by concedro.
GuidelinePro represents just one way to use data sensibly to increase the value of the company and streamline its operations. In addition to technical solutions and products, a prerequisite for this is to anchor the data culture in the company. Use the methodological framework and creative approaches of DataValueThinking to unlock the hidden values of the data treasure in your company. Learn more about DataValueThinking.