In order for an organization to move beyond reactive operational analytics and reporting and move to predictive modeling and innovative solutions, it must first transform how it interacts with three types of information.
The first is output data. In the simplest form, it starts with information, then a decision occurs by a human to apply that information. The key is to understand the 4 W’s (who, what, when and where) so you can drive to the “why.” The “why” will be your driving force to cost reduction.
Cost reduction may come in a simple form such as output redirection to a device with a lower Total Cost Ownership (TCO) or output reduction with eliminating abandoned, repeated or unnecessary print. The greatest impact will come if you are able to use the output data to understand how it impacts your business processes. Impacting a business process with enhanced information delivery is where your employee productivity will be impacted the most and where you will see the greatest cost savings.
The second is mail data. Printed Information that has gone through a distribution mechanism not only introduces an array of data points but can unlock big savings. It starts with the receipt of a mail piece, the intake source. This is where the mail data journey begins. We then get into other areas: Where did it come from? What is it? Where does it need to go? Once it gets to its destination, what is done with it?
These are all relevant questions when looking at an intelligent mail strategy with analytical capabilities. The cost savings opportunities stem from the summarization of data points during the journey of that mail piece.
Finally, there’s the capture of data. Having a data strategy on the capture process is critical. You need to understand the source of the document, how it is being stored and where it is being used. Understanding these data points and feeding them into a strategy will lead to workflow refinement, data storage refinement and information handling efficiencies – all of which will drive cost savings.
Transforming this data must be part of your organization’s overall information strategy, as it allows for critical business decisions to be data-driven, rather than intuition-driven. Whatever your strategy may be, it should include these four points: