Oct
19
DQM and the Market of One
Filed Under B2B, Big Data, Blog, data protection, eBook, Education, eLearning, Financial services, Industry Analysis, internet, mobile content, online advertising, privacy, Publishing, social media, Uncategorized, Workflow | 1 Comment
I thought it might be a restful day. After the conferences, after Frankfurt, try another conference, in a different field, and attend as a spectator – NO Speaking. Add the fact that this one was to be held in the Royal Institution (Faraday’s lecture theatre is a favourite place) and that I was invited by an old friend and I anticipated a light day catching up with the good folks in data marketing and what we used to call “list cleansing” years ago. The hosts were DQM (Data Quality Management), who I have known for a long time in different manifestations and the meeting was organized by their magazine, DataIQ, who have developed ways of benchmarking and replicating best practice in data management (www.dqmgroup.com). I settled into my seat prepared to be mildly re-educated: by mid-morning I was in a state of shock, and by the end of the day I was sure that another significant convergence was now locking into place.
Just think back a few years. For the information industry, preposterously concerned with their own proprietory content, data management of this type was simple housekeeping. Keeping lists of customers and prospects in good order was a non-strategic mid-level task. But now we live in a Big Data world, and while speakers urged us to see this as developmental as much as revolutionary, and pointed out how old the concepts are, there was still a feeling in the air that we could know so much more about customers and prospects that our chances of selling them something they wanted were increasing all the time. John Belchambers from Telefonica and Colin Grieves from Experian both hammered home the lesson, but as they were talking about global corporations and global marketing, my head was working furiously in the information products and services space. Think through the future of marketing information and the future of “publishing” (or creating information services and solutions) and you come out at the same place: The Market of One.
Noel Penrose, the former COO of Interbrand, made a vital intervention when he reminded us that Brand can be valued, and so can Data. We are not living in a place where data becomes commoditized if we are perpetually developing market-leading techniques for qualifying and comparing it. It was around this time that I saw why the agenda was dovetailed between speeches by two eminent futurologists. Melanie Howard, the chair of the Future Foundation advisory service began the day in fine form, and Dr Ian Pearson, formerly BT’s futures man, ended it. Both gave excellent value in predictive terms, but their effect on me in terms of the information marketplace was to drive me towards the Market of One prediction and what it means for all of us.
They reminded us of some things that we should know already. Demographic change should be the first stop in every strategic enquiry. In a sensor dominated society, each of us will be in receipt of 2 gigabytes a day of unsolicited content, and equally, as we walk and talk and move around the networks, we shall create as much again each day. While we talk about “mass customization” in a hopeful way, the drive to personalization, both in terms of marketing and services, is surely inexorable. Having just come from Frankfurt, where I moderated a panel on what we called “network publishing” I can testify to the willingness of producers to think about “customized textbooks” (CourseSmart) or custom workflow for lawyers (Wolters Kluwer Germany) but can we really see beyond that?
Christine Andrews, DQM’s Managing Director, certainly sees the regulatory issues (another round of European Community privacy law belt-tightening is due in 2015), but sees beyond it as well. One of the criteria for value may well become the quality of data governance in a business, and its ability to audit and report its own performance. But she is very right to point to the barrier that consumer-based legislation creates at the moment – and will increasingly in the US as that market catches up with European concerns. So turn that upside down for a moment. I could well predict, from what I heard this week, that we shall see a market where the power of the customer steadily increases to the point where powerful consumers are able to save and make private all aspects of their performance as network users, enabling them to sell it back to suppliers and marketeers in return for – coupons, discounts, customized products and services. In this permissioned world we shall have different levels or strata of market optimization – I can make this service fit a class of people who behave like you, or to fit your behaviours specifically.
So what classes of data will have most value: objective data, derived from observation of what happens on the networks which is commonly usable by all, or subjective data, derived from individual transactions and owned by the individual themselves? The latter, I imagine, but by gaining permission to use the latter, or enough of it, we could add real value to the former. This is what the Financial Times do, I hope, when they assess the reading habits of 300,000 recordable readers every day using Deep View. The inestimable Chuck Richards at Outsell took us down this track in his note this week (October 15) on 1 to 1 marketing, which also indexed companies like IDG Techsignals and Scout Analytics (www.outsellinc.com).
I came down the road from the Royal Institution grateful to my hosts for a reminder that the future is part of the present, and that marketing data and content data are all data in the context of an individual customer’s requirement.
Aug
14
Speech is the Future of Search
Filed Under B2B, Big Data, Blog, data protection, Education, eLearning, Financial services, healthcare, Industry Analysis, internet, mobile content, news media, Publishing, Search, semantic web, social media, STM, Uncategorized, Workflow | 1 Comment
Here is an extract from a story carried by the International Herald Tribune on 14 August 2012;
august 14, 2012
Quaid’s speech calling for religious, ethnic tolerance missing from Radio Pakistan’s archives.
Muhammad Ali Jinnah’s landmark speech at the Constituent Assembly’s
first meeting on August 11, 1947 in Karachi has been missing for decades
and all recent efforts to retrieve it have so far been in vain.
These days, Radio Pakistan runs an Urdu translation recorded in
somebody else’s voice of the same speech. Where the original speech
disappeared, and whether this was deliberate, remains an unanswered
question.
It may be no coincidence that the missing speech has these famous
words in it: “You are free; you are free to go to your temples, you are
free to go to your mosques or to any other place of worship in this
state of Pakistan …You may belong to any religion or caste or creed—that
has nothing to do with the business of the state.”
It was also in this speech that the founder had said that the first
duty of a government was to maintain law and order, “so that the life,
property and religious beliefs of its subjects are fully protected by
the state.”
Important words, and never more so than at this time. And almost certainly not lost – mislabelled, misfiled, disguised by inadequate metadata, maybe, but it is worth a small wager that the speech turns up one day – so very many things do. The world is full of attics and libraries from which lost symphonies, early works of poetry, the juvenilia of great writers reappear with monotonous regularity. This speech will be found.
But the story interested me because it provided a graphic reminder of the problem and potential of speech, and returned me to a long held conviction – that voice is the real future of search. However, I no longer believe that the route to this is through Google and the other search engines. though I am aware of Google’s downloadable voice search app, and I am sure that the pace set in this area will accelerate as Google get even further invested in the future of the smart phone. However, we need semantic technologies that can treat text as voice and vice versa for search purposes, and while we have evidence of many attributes in this pipeline, we seem to be a long way away from finding a universal solution, and one that resolves the legacy content issues as well.
I am coming to believe, however, in the explosive growth potential for voice in business, partly because of Siri and its ilk, partly because of the need to get more functionality into the phone than the keyboard will allow, but mostly because I can now see a group of very relevant business areas where being able to move seamlessly from voice to text, to be able to search both using either, unlocks productivity gains that cannot be attained in any other way. My conclusions on this were formed by following two companies quite closely. One was Aurix (www.aurix.com), a former UK Defense establishment company privatized within QinetiQ and now owned by Avaya. No prizes for guessing where their voice interests began, but their interests now lie far beyond security and intelligence. The other is BigHand (http://uk.bighand.com), bought earlier this year by my colleagues at Bridgepoint, where I do some media advisory work. It happens that both of these are UK technology companies, but I am sure that we could find equivalents for them in the USA or Israel.
Clearly a vital sector for voice search remains security. Searching voicemail alone when required is a major undertaking (not even the News of the World in its prime had the right technologies). Beyond this, media and broadcasting is surely a primary market. No one who drowned in the ocean of superlatives surrounding the London Olympics can doubt that heavyweight voice technologies of the sort that Aurix deploys will be as critical as the major investment put together by the BBC, partnering with MarkLogic, to put in the text-image-video handling platform that sat behind the BBC Sport website. And then we put together the fastest growing sector – monitoring and searching voice messages, recorded conversations and realtime calling in direct selling and customer service contexts. The productivity gains are as large as the range of uses is wide – checking compliance and script adherence, learning from common complaints, measuring call centre workloads, analysing trends in customer response etc etc.
And there are two marketplaces where voice records, the ability to attach them to text records, and to search both at the same time, has always been important, even when it wasn’t possible. One is the law practice market, and the other is the health market. Here there are solid traditions of voice recording, but real productivity gains to be made (for example, in legal eDiscovery) by using effective voice search. BigHand are market leaders in legal dictation and have the exciting prospect before them of what seemed a limited market a few years ago now opening out in an interesting way to embrace technology change which will then move into education (voice reports?), surveying, engineering and then some of the science research disciplines. As a law database publisher in 1982, I now have the delightful prospect of seeing another wave come ashore in the same market with very similar productivity, and compliance, advantages.
So here then is a brief sketch of a demand-led digital voice revolution. In 2020 we will ask our screen for research results, and define if we want them by ear or by eye – bearing in mind that some of the results will be transcripted voice turned into text, and others will be text turned into speech. Around then we shall find the missing speech in this news story – and admire again the wonderful sentiments of the speaker.