Business Or Cricket: Get Better With Information Capture
With the right technology to record swing profiles of cricket bats and carry out pitch analysis, coaches of cricket teams and captains today are better poised to deal with opponents
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Cricket is Bowled Overby Information
When the most attended cricket league in the world that ranks sixth among all the sports leagues relies on sports analytics technology to decide who should be in the playing eleven and who shouldn't, we are no longer in the business of sports! We are actually in the business of technology. According to a KPMG report, the information generated from the data of performances of all the players in the cricket league- the runs scored, strike rate, batting averages, bowling averages, calories consumed and expended etc. is enabling team captains and coaches to develop new winning strategies. Hidden patterns are being revealed and insights are drawn from the information captured. Therefore, it's not simply statistics recorded and shared with fans, but intelligence drew out of the pool of information being churned out as players play cricket!
And remember, we are not limiting ourselves to a cricket league in the South Asian subcontinent but to international cricket being played in the world! Under the International Cricket Council (ICC) there are 10 full-time member countries, 57 affiliate member countries, and 38 associate member countries, which rounds up the number to 104 member countries. When matches are played round the clock in multiple tournaments, tracking players' performances and that of the teams gets tricky. Are cricket councils equipped with Performance Tracking Systems so that all the performances of the players across the globe are captured in a central repository to refer to and draw analysis from? Considering how popular this 'gentleman's game' is and the amount of money backing it up, this is a major cause for concern!
Cricket or Business: Is your Information Capture technology Smart Enough?
Your business is much like cricket. There are high-performance pressure and an unpredictable market! When you want to make decisions, you need the stuff to analyze. But there is Information deluge and nothing makes sense in the mayhem! Interactions with customers, partners, employees and vendors are taking place on multiple digital and offline platforms. And these are growing at a rate that is confounding business users. Competition is breathing down their necks and taking calculated moves! There is a lot at stake with every decision being taken on the available information! A great deal, therefore, depends on the timely and efficient capture of information.
But are things easy for business leaders who are sitting on a minefield of information?
No. Information is trapped in physical, social and electronic records. As a leader, your business needs intelligent technology that can capture or extract information from documents to empower business decision makers. This content capture technology needs to be versatile. It should be able to intelligently extract, capture, store, track and search information from multiple sources and formats. In the best circumstances, it should continuously improve extraction accuracy. It should be able to digitize content retaining the right context as well and feed into business processes. Archiving information, maintaining records in the repository that is accessible to other business users gets important too! What if you need to pull out a document from your database during an unusual audit request? Do you have a tool that has a 'smart search and retrieval capability'?
And then you need to think about 'information hygiene' too. With several business users needing information and modifying documents as per their requirements, you need to track who did what and when. Access to the content should be given based on business rules. There are robust record management tools that cover all these.
What about customer experience and engagement? When customers reach out to enterprises for any query, register a complaint or even share an idea, they demand instant gratification. Certain digital platforms such as Digital Sensing empower businesses to get this right! These platforms continuously listen to customers across channels, discover context and initiate appropriate responses, ensuring customer loyalty.
When 'information pool' is well-managed with a robust content management system, you have better control over how this information can be further put to use.
Content Management Systems transforming Industries: Insurance is a case in point
Let's explore how a content management system can help an Insurance organization. Of all the processes in an insurance organization, the Claims Process is a critical one. The more streamlined it is, the better is the customer experience. When a customer initiates her motor claim through an email, a digitized insurance company gets into action much more efficiently than the one which is not. The data and documents that she submits will be auto ingested into the workflow and the corresponding work item will be auto-created for further processing. The next step is to validate the claim and this is helped by a smart Content Management software system that integrates with the Policy Database. Policy details are automatically fetched for validation. Besides, the system also performs duplicate claim check and fraud checks to rule out redundancy and fraud possibility. Once the claim is validated, the claim will be registered into the system to generate Customer Intimation Slip that the customer receives. The system, therefore, ensures that content capture is efficient and only relevant information is extracted. Moreover, field agents can upload documents on the move with their smartphones and business apps.
When content is contextualized and is of superior quality and quantity- it helps business leaders to make impactful decisions. With the right technology to record swing profiles of cricket bats and carry out pitch analysis, coaches of cricket teams and captains today are better poised to deal with opponents. That just makes the entire sport of cricket interesting and exciting- transforming athlete and fan experiences. Since businesses are as exciting as a game of cricket today, the decision to digitize content and manage information smartly is a good bet. Howzzat!
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.