Information Innovation: Turning Insights into Opportunities

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

email

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