Let’s Talk Knowledge

I sit here at Louie Armstrong International airport, waiting for my flight back from SLA 2010. It was a great conference this year, and there seemed to be a lot of energy and enthusiasm, perhaps more so than last year. It’s possible this could have been a direct result of the Dow Jones Factini happy hours, but it is more likely from a sense of optimism the crowd had about what’s ahead.

From my perspective I did a few sessions this year on using Social Media for business research. I’d like to thank those in attendance (especially the brave souls who stood in the hall, or sat on the floor for my last session!). I had a lot of great conversations, and learned much from you all.

I wanted to quickly summarize the three key things that information professionals should be thinking about with respect to social media and social technologies in general.

1. Social as a research tool. A few key ways social can be used as a serious tool in your research toolbox:

• • There is a lot of great information in social media about companies, people, products, and industry topics.
  • Social is also a great way to find new sources, especially for niche topics, and private company info.

2. Social as a way to build your expert network. Social networks are about easily connecting people. Take advantage of the fact you have unprecedented access to expertise that previously you may not have even known existed, let alone had a way to connect with.

3. Social as a mechanism for customer communication. People are rapidly becoming accustomed to having content pushed to them, and curated for them by experts. Information professionals are uniquely positioned to help (and shine) in this model.

Remember that as a source of information, social media should be considered as just another source. Information that you find should be verified and validated, just as you would information from mainstream media. As far as social technologies go, don’t wait to long to embrace them.  Social is rapidly causing a fundamental shift in the way we communicate and share knowledge, and discover and navigate information. The sooner you begin to build your network, and communicate with your customers, the better off you will be positioned as adoption and usage of these technologies and networks continues to explode.

- Ken

There has been an extremely interesting, yet nascent, trend in the information industry over the past 12 months. It’s a trend that’s been enabled by new technologies, forward thinking, and good old fashioned common sense. There has been a lot of effort put forth to combine the tools and platforms that help users analyze and discover data from internal systems, with those that access content from outside the firewall.

The combination of course make sense. Probably the best way of explaining what I mean is by example. For the last decade companies have been investing in Business Intelligence platforms that help them analyze information from their internal ERP/CRM systems and the like. This allows, for example, someone to get analysis on a customer, how much they spend with a company annually, and how often they may call customer service for product support. Sophisticated BI tools can even begin to draw correlations between the number of calls in a given period, and the increase or decrease in spend from that customer, based on previous patterns.

Now, the ERP/CRM/BI vendors are looking to add more value (and grab more share of wallet) to the reports and analysis by integrating information from outside the enterprise. So in the previous example step one may be as simple as adding current news about a customer to the analysis. More sophisticated platforms are looking at using external data, such as stock price or EPS, as part of the equation when predicting future spend.

From an end user perspective this is extremely powerful. It really does allow someone to look at their customer with a holistic viewpoint. Internal data alone can never tell a complete story. External news and information fails to take your relationship with the customer into account. Bringing them together provides a powerful context.

There are a few implications of this trend. First, a new eye is going to be turned towards the analysis of unstructured data. The large vendors have gotten very adept at analyzing structured data from a database. But few companies have exceled at doing true analysis on data in a variety of formats, from a variety of sources.

The second implication is how external information will be sourced by organizations. Today external information purchasing is generally the purview of the corporate library or knowledge management center. As these new platforms emerge, IT will begin to identify, and drive, more and more of the purchasing of external content. Their requirements for purchasing will be different than today as well. More attention will be paid to delivery format and data quality than will be paid to the accessibility of the information. IT will need to get content in standard, easy to parse and consume formats, and since the information will be put in from of much larger parts of the enterprise, information quality will get more scrutiny.

One of the challenges that will present itself will be the discovery of the appropriate sources of external content. While Librarians are very well aware of the most reliable, accurate, and timely sources of information for an industry or topic, IT professionals are not. Publishers that can understand how their content can be consumed in the context of existing ERP/CRM/BI platforms will have an advantage as they can market themselves appropriately.

There have been many recent announcements from major players like IBM, Oracle, and SAS. Another interesting development has been the emergence of Data as a Service. Solutions like Microsoft’s Dallas are making it easy for developers to discover, subscribe, and integrate content from premium (AP, Infogroup) and free (Data.gov, undata) sources.

I think it is an exciting and rapidly blossoming opportunity to provide business intelligence in context to users throughout the enterprise. If executed well, it can all be done within the context of the user’s existing workflow which bodes well for user adoption. Now, when you combine this trend with the collaboration and communication possibilities provided by Social Networking, you can begin to see the knowledge worker of the future will have insight into business decisions that we only dream of today.

- Ken

A lot has been happening recently in the realm of Social. Major announcements from Twitter and Facebook over the past two weeks are sure to have implications beyond what we can conceive right now. The popularity of the two sites alone are growing in unheard of percentages with a combined user base of over 500 million.

One of the most interesting things that is happening as a result of this is how traffic is being directed on the web. More and more these social networking sights are actually driving traffic to major web properties. In the case of USA Today for example, social networking sites are in fact driving 6X more traffic than Google (full report from Gigya can be found here http://bit.ly/c8HLDA – free registration required).

I think this is actually a beginning of a fundamental shift in the way people discover and navigate information. Rather than relying on an empty search box to direct you, people are relying on their friends, colleagues, and other experts to guide them. This really shouldn’t be surprising. Before Google convinced us all that search was the best way to get to the information you need, we all relied on our networks much more heavily in order to gather and analyze information. If you were looking for competitive intelligence, the first thing you’d do is pick up the phone and talk to a sales rep, or a customer, or an industry analyst (not saying you CI professionals don’t still do this btw!).

But Search seemed so convenient. It was always there, and easy to use. People could be more self-reliant. In some ways, Search was an improvement. But the reality is that Search is also very inefficient. Depending on the research you look at, we see that people using web search engines fail to find what they are looking for anywhere from one-third to one-half of the time. But as the amount of information online became more and more vast, it seemed like Search was the only solution. The reality is we search because we have to, not because we want to.

Until the rise of the social networks. Easy to use and prolific, these sites are helping turn the web from a network of documents, to a platform that connects people. And a platform that not only connects people, but removes the friction involved with communication between people.

Now we are starting to see the beginning of how these social networks can be so much more than Search. Need to find something, as your network. Chances are someone you know has had the same or similar question and can guide you to their research or even analysis. Not sure what you are looking for, let your trusted network of experts tell you what is important around any given topic. This is why these sites are beginning to overtake Search when it comes to directing traffic online.

There is a lot more to discuss and understand about this topic. This post could get very lengthy if I tried to even scratch the surface. I’ll leave you with this thought though. Search will have a place for many years to come of course. However sooner rather than later, our ability to find the information we need will be more influenced by the power and reach of our networks, than our ability to craft elegant queries for the big white search box.

My advice to anyone today is to begin to understand these new tools and platforms. And to more importantly begin to build your networks on them. The investment you make today will be well rewarded in the near future. IMHO

- Ken

Trade shows have always played an important role for businesses looking to showcase new products, stay current on industry trends, and meet other professionals in their field.  As a tool for business development, trade shows are indispensable for generating leads, developing brand awareness, and networking.   For many reasons, trade shows seemed an almost irreplaceable aspect of the business world.

That is, until now.  “Virtual Trade Shows” are the online equivalent of an industry conference.  These events mimic the look and feel of being at an event in person, by giving users an interactive virtual world to participate in.  Some virtual conferences even provide attendees with an online avatar that can be navigated from booth to booth using the mouse and arrow keys on a keyboard, similar to a video game.  The event organizers have the flexibility to “host” the conference in (presumably) any venue they see fit, giving participants the perception that they are in a traditional convention center, on the top floor of a swanky hotel, or perhaps even on the beach in Barbados.  At each virtual booth, representatives from an organization communicate with attendees via video conference or chat rooms, run product demos, and share files with guests, all in real-time.  At the conclusion of the event, a log of attendee information is sent to the booth sponsor, detailing participants’ activities, downloads, and most importantly, their contact information.

These virtual trade shows have increased in popularity dramatically in the last few years, and for good reason.  With the economic downturn, corporations have seen travel and advertising budgets cut drastically.  The total cost (in both time and money) of sending employees to a trade show is quite high, and a virtual event can make a great low-cost alternative.  For similar reasons, virtual trade shows have a large appeal to small and medium size companies.  Traditional trade shows, and especially high profile ones, have a very high barrier to entry.  The costs of sponsoring and manning a booth at a leading industry trade show could easily run an organization tens of thousands of dollars.  A booth at a virtual trade show generally costs only a few thousand, and admission for participants is usually free.  Many companies have even begun to tout the environmental benefits of virtual events, stating the adverse affects of lengthy travel, keeping the lights on in large conference rooms, and waste reduction as reasons to consider a virtual event.

After taking a look at demos from a few of the companies (ie ON24 and GoExhibit), I must say I am very impressed.  What really grabbed my attention first were the lengths that some of these companies had gone to in order to make the event seem realistic and “in-person”.  The events were visually appealing, and made you feel as if you were at a bustling event, replete with the noises of busy crowds and visual representations of company representatives.  Webcasts and presentations were hosted in a theatre-style environment, where presenters could take questions from the audience in real-time, and follow up with participants afterwards in chat rooms.  Some of the most interesting features about company booths were the ability to upload documents, brochures, and contact information that booth-goers could review, and then download to take with them.  There seemed to be a lot of value in having presentations and handouts available for immediate download, as well as sharing LinkedIn profiles in place of business cards.

There are some potential downsides as well.  It appears at first glance that there is no real way to distinguish your booth from next, something that any trade show regular could tell you is a critical component in driving traffic to your booth.  In most of the demos that I tried, booths tended to have a generic look and feel, the only differences appearing to be the company logo on the outside, and of course the materials being shared on the inside.  I also feel that in a virtual environment, it may be difficult to qualify the attendees to an event as well.  Whereas an organization might find the budget to send a handful of business development or sales representatives to an in-person event, virtual events might not have such strict standards, and be open to anyone with an internet connection. Booth owners could potentially find themselves spending a lot of time speaking with half-interested parties, missing out on the chance to talk to senior level attendees and sending their sales teams bad leads after the event.  Finally, although it may seem like a small grievance, the absence of crowded auditoriums, keynote speakers, and even giveaway promotional items can make you leave the event feeling as if you have had a less tangible experience.

I doubt that these Virtual Events will ever fully replace traditional face to face events in the future, no matter how sophisticated they become.  Although I believe these events can be very beneficial to vendors and participants alike, there is simply no substitute for the power of face to face communication.  As one executive described to USA Today about his recent virtual trade show networking experience: “There were no virtual free drinks. There is some truth that you want people to be in close proximity.”

Have you been to any of these events? Let me know about your experience!

-RJ

Today,  April 1, 2010, is a big day in the United States (and although I am not referring to April Fools’ Day, it still remains one of my favorite holidays).  Today is, of course, “Census Day”, the official kick-off date of the 2010 United States Census project.  The 2010 Census is one of the largest primary research projects ever undertaken, and is likely the most extensive measure of a population to date.  Largely administered via mail surveys and individual interviews, the census takes place every 10 years to measure different aspects of the US population, and is used to help determine everything from municipal budgets to the number of seats a state occupies in the United States House of Representatives.

The US Census Bureau estimates that the total cost of the 2010 Census, including materials, staffing, and administration, will come close to approximately $14.5 billion, over 3 times the cost of the previous census that took place in 2000.   Of course, this increase in price is directly related to the dramatic growth in the population of the US, but I am willing to bet that an increased technology and advertising budget might have something to do with it as well.

With the large changes in population and demographics over the last 10 years came another noticeable trend in the US population as well.  The number of internet users in America has nearly tripled since the date of the last census, and with that, the Census Bureau has been quick to adopt new technologies and communication strategies.  Most notably, the US Census Bureau has developed a fairly large social media marketing campaign to promote this year’s census.  Their Youtube Channel hosts promotional and educational videos (some are actually quite entertaining), describing the value of the census, and answers to frequently asked questions.  The Director’s Blog is written by the Census Bureau Director, Robert Groves, and discusses upcoming events, important announcements, and tries to add a personal touch to the large organization.  Moderators of the blog also respond comments on the posts, and provide answers to questions that readers may have.  Of course, no modern advertising campaign could exist without a Facebook Page or Twitter Account, and the Census Bureau is no exception.

Despite the various Web 2.0 updates to a process that is over 200 years old (the first US census was administered by Thomas Jefferson in 1790), perhaps the biggest changes in this year’s census are happening to the internal systems of the Census Bureau and the ways in which they are using modern technologies to keep track of the US population.  Prior to the distribution of this year’s census, census employees used mobile GPS devices to mark every single household in the country (as described in this video).  The specific coordinates of each location are stored in a centralized system and are used to track household responses, assign staff to specific locations, and keep track of surveys that have not been submitted.  More interestingly, these devices will play an important role in team communication and information sharing during the lengthy data collection process that is about to begin.  Census managers will able to get real-time updates on the progress of their employees, track employee hours on the field, and communicate quickly with their teams.  The mobile devices will also be utilized by census staff to share information about their progress with each other so that they are not duplicating efforts, and provide them with access to internal systems and resources while they are on the field.

I am looking forward to seeing the results of the 2010 Census, and I have to say that I am really impressed with the government’s adoption of new technologies and communication channels.  Maybe in 2020, census surveys will finally be available online!

-RJ

Using Twitter as a research tool for competitive intelligence has already become credible, and it is rapidly becoming crucial. Twitter is a great place to find unfiltered, unembargoed competitive intelligence. When I think about CI using Twitter, there are a three key areas to think about:

• People: Often you can find mid to senior level people from your competitors on twitter. You’d be amazed at some of the things they may tweet about their company or its products & services.
• Products: Great place to find information about weaknesses, strengths, potential new releases and features, etc.
• Companies: A lot of information on Twitter about companies in general. Watch for tweets about company direction and focus, customer service attitude, etc. A companies presence (or lack thereof) on Twitter will also often be an indicator of how they may be trying to use Social Media as part of their strategy overall.

There are actually quite a few tools that have been launched to help you monitor and analyze the twitter conversation around these things. I’ll actually try and list some of those in a separate blog post. In this post I will just focus on using the twitter.com interface to do that.

The Twitter Search functionality is the place to start. Here you can search the twitter stream for people, products, companies, or references to a specific topic. There are options to restrict your searches to those containing links, or those that have a positive or negative attitude. The hashtag concept is particularly powerful when following a particular product or topic. Simply put a ‘#’ symbol in front of the product name you are interested in. You can also save these searches for quick reference in the future. For example, I have a saved search for #factiva that I check daily, just to see what people are saying about one of Dow Jones’ products.

Once you’ve run a twitter search, you can start examining the results. You should start by checking the profiles of some of the people that have posted relevant results. You can find a lot of valuable information from these profile pages. First, you can get an indicator of credibility by the number of people following that individual. Second, you can see how much information you are likely to get by following that person, based on the number of tweets they have posted, as well as a quick scan of their recent posts for quality and relevance. You can also take a look at who that person is following. This may help you find other subject matter experts on a particular topic/product. Twitter has released a new feature called ‘Lists’ that makes this even easier. Twitter allows people to create lists of people they follow, thus creating a categorization mechanism. Check these lists to see if they have already done the hard work of identifying other relevant individuals to follow.

Once you have found the right people to follow, you can create your own lists, and start monitoring the tweets for relevant information. While Twitter may not be the most relevant source of CI, especially depending on the industry your in, it can be a great way to get otherwise hard to find nuggets of information. It certainly is one of the best ways to understand the conversation around your competition as well. I’ll try to write some posts in the future about the tools that are out there, which can greatly streamline the process of using Twitter for CI.

How are you using Twitter for CI? Any tips or best practices you’d like to share?

- Ken

I mentioned in my last post that a shift in focus will be taking place in technology. Instead of creating, storing, distributing, and retrieving (as my friend Christine pointed out), technology will turn its focus to tools to help make sense of the vast amounts of valuable information made available to us. I wonder though if it isn’t the simplest of technologies, which already exists, that will be one of the most beneficial to us.

What could be better than a tool that would understand what decision point we are trying to support, go find all of the relevant information, then analyze it and present it in an easily consumable manner like a dashboard? How about someone who has recently made the same or similar decision? Someone who has already either manually or through technology synthesized large amounts of information, understands the sources of the most valuable data, and maybe even knows the context in which you are making a decision.

Learning from the knowledge of others is something we’re very accustomed to doing, and very comfortable with. Really, the idea of Search is to connect us to the materials that others have put together, so we can benefit from the knowledge they posses without knowing who they are. But now, we have social networks and messaging systems that help us easily find those people, and subsequently the knowledge they have.

Imagine discovering a company you are not familiar with in a news article, and wanting to know who their competitors are. If you use the standard means of Search, you would spend some time on Google, or your intranet, or a research tool like Factiva to get your answer. Think instead if you could click on the company, and have a list of people in your enterprise or industry peers that have a relationship to that company (a procurement person, a sales person, a technology person, etc.). An instant (or micro) message directed at one or more of the people listed, gives you access to all of there knowledge. They will likely either know the answer directly, or be able to tell you where to find the answer.

Intelligence obtained from your social network, not your ability to search. Connecting with people that are informed, not finding relevant information. A powerful way to benefit from the volumes of information we are presented with, and not be overwhelmed by it.

Of course enabling social intelligence is only one of the things that needs to happen. New information management technologies are still critical. I just think we should do our best to get the most out of our existing technologies, while future technologies are being development.