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The Internet Economy

Angela Hausman

saul kleinThe Internet economy is bright — very bright according to Saul Klein of Index Ventures.

But, are investors getting returns like Facebook and Google when they invest in tech? Or are they missing some of the secret sauce that makes these investments almost bullet-proof?

Returns like Facebook and Google

Look at recent investments by Facebook and Google — Instagram (by Facebook) and YouTube (by Google).

Facebook paid $1 billion to acquire Instagram in 2012 – not a paltry sum. Begun in 2010 by a couple of Stanford grads, the app today boasts over 200 million users with more than 75 million logging on each day, including both the Obamas, the Royal family, and most celebrities.

What did Facebook see in Instagram? The fast growing users base on dedicated users fit Facebook’s business model and the photo sharing over Facebook (and other social networks) created synergy, but maybe the thing that drew Facebook to buy Instagram was because they were afraid of Instagram — afraid users would desert Facebook for Instagram … afraid users wouldn’t want to split time between the 2 apps and would choose Instagram … afraid Instagram solved a problem — sharing photos — that made Facebook obsolete. Just as General Motors acquired Oldsmobile, Cadillac, Chevrolet (once competitors) to eliminate the competition, Facebook did the same with Instagram.

Google’s purchase of YouTube for $1.65 billion 4 years earlier made it the most expensive acquisition by Google to date — topping what they paid for all acquisitions the year before. Again, the purchase was a strategic fit for Google, who grew from its search roots to become a major player in many aspects of life for its target demographic. Following the successful strategy of Apple Computers, Google seeks to be everything to this target market from search to wearables to automation (self-driving cars, for example), to communication and productivity, to every aspect of innovation (life extension, for instance). Buying YouTube meant not only acquiring more folks in this target demographic, but convincing them to spend more time with Google properties and, through its single sign on, making easier to bundle everything a consumer needs into one package. Acquisition of YouTube also provides synergy — making Google’s chief money-maker — adsense — even more valuable and driving more businesses to the advertising platform (which also operates on YouTube).

No wonder Google sowed up 70% of search!

A good question is what Facebook and Google see that eludes other investors? And, how can other tech investors get returns like Facebook and Google?

Investor barriers

According to Saul Klein, investors today are investing like investors of 20 – 30 years ago — not understanding the ecosystem changed forever with the rise of the Internet economy.

According to Klein:

The Internet isn’t really a technology, it’s a belief system

And, e-commerce companies, software, and online travel outperform the traditional markets (creating tangible products) where investors traditional focused their resources. With the exception of smart devices, these markets just don’t perform that well anymore.

And, Klein isn’t alone. The prestigious Boston Consulting Group (which created the infamous BCG matrix taught to generations of marketing students) estimates the growth potential for the internet economy at $4.2 trillion. In their report, BCG analysts say:

By 2016, there will be 3 billion Internet users globally—almost half the world’s population. The Internet economy will reach $4.2 trillion in the G-20 economies. If it were a national economy, the Internet economy would rank in the world’s top five, behind only the U.S., China, Japan, and India, and ahead of Germany. Across the G-20, it already amounted to 4.1 percent of GDP, or $2.3 trillion, in 2010.

The Internet Economy

Because Internet growth is exponential, not linear, opportunities in the Internet economy far exceed those available through any other opportunity — which also fueled not only the growth of Facebook and Google, but their acquisitions of Instagram and YouTube. Take a look at how the Internet economy is shaping up next year in this chart from the BCG report

And, they expect continued growth means the economic impact of the Internet economy will double in just 6 short years — between 2010 and 2016. Beyond 2016, exponential growth continues — shortening the time it takes for economic impact to double.

Developed markets in the US, Western Europe and much of Asia (including a surprising strong showing by South Korea) lead the way in the digital economy in terms of BCG’s e-intensity, which assesses a countries Internet infrastructure, online expenditures, and online engagement online, but new comers in Latin America, China, and the Middle East (except Israel, which maps to Western Europe in e-intensity), are leap-frogging directly into social the way they leap-frogged directly into mobile rather than land-based telephones.

Research versus buying online

We probably already knew this — or at least suspected it. The amount of money spend online is really tiny despite years when gurus predicted this would be the year when online sales (desktop and mobile) would take off. But, don’t underestimate the importance of online marketing and retailing. A large percentage of consumers do their research online, then buy what they want in the store — the brick and mortar kind. Mixed channels — using 2 or more channels — are common, especially in the US, where almost twice as much stuff is purchased in a brick and mortar (after researching online) as is purchased online.

Multichannel retailing goes the other way, too. With companies like Best Buy complaining about customers taking up time (and time IS money) shopping in the stores, then buying online. Shoppers even shop the price of an item right in the store before making a purchase. If they find a TV or Blu-ray for less on Amazon, there goes the sale.

Of course, not all research is intentional. We get recommendations from our friends all the time on social networks. It’s also common for folks to ask their friends for recommendations before buying. I recently had a friend ask whether to buy a Sleep Number or Temporpedic mattress to replace his existing foam mattress. We trust our friends because they don’t have any hidden agendas — they give it to us straight. This, of course, explains the true power of social media.

Not to mention all the brands building their image through social channels. Branding sends subtle messages about the positioning of the product and it’s suitability that have a subconscious influence on the brands we choose in both online and offline settings.

Even though a small number of purchases actually occur online (about 4.3% of GDP according to BCG), the power of the Internet in influencing offline purchases is enormous.

So, what does it all mean?

I’m glad you asked. The Internet economy impacts much of how we market businesses today. Like Klein said, its a belief system supported by technology, not a technology.

As an investor

You should probably think like Facebook and Google — investing in the Internet economy by building synergies with existing business and stopping competitors by gobbling them up. Stop investing the old way and supporting startups who are doing things the old way. Today, that probably means stop looking for the next Facebook or Google and, instead, look for firms like Instagram and YouTube who expand the internet economy.

Two suggestions — the Internet of things and email substitutes.

As a marketer

The Internet economy presents great opportunities, but also great challenges. Learn to harness the power of the Internet economy by putting on a different set of glasses than the ones you’ve used to view the world so far.

If you’re not online (and mobile-friendly), you’ve missed the boat. A digital presence is just the price of admission now. And, don’t go creating an app unless you provide some enhanced capability over your website. Just make you website mobile friendly. The high cost of keeping your app at the top in the app store is too high to do anything different.

Joining today’s Internet economy means becoming part of the new ecosystem — an ecosystem that’s consumer-driven, not like the one we all grew up in.

As a consumer

The Internet economy offers great opportunities to increase your buying power and get things that truly make your life better. Demand more from brands — make them earn your $$$$ every day. When they do something wrong, vote with your dollars to drive them out of business. If they offer greater opportunity, give them a try and tell your friends if it works out. We certainly need that more than sharing another cat video!

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Transform Or Die: What Will You Do In The Digital Economy?

Scott Feldman and Puneet Suppal

By now, most executives are keenly aware that the digital economy can be either an opportunity or a threat. The question is not whether they should engage their business in it. Rather, it’s how to unleash the power of digital technology while maintaining a healthy business, leveraging existing IT investments, and innovating without disrupting themselves.

Yet most of those executives are shying away Businesspeople in a Meeting --- Image by © Monalyn Gracia/Corbisfrom such a challenge. According to a recent study by MIT Sloan and Capgemini, only 15% of CEOs are executing a digital strategy, even though 90% agree that the digital economy will impact their industry. As these businesses ignore this reality, early adopters of digital transformation are achieving 9% higher revenue creation, 26% greater impact on profitability, and 12% more market valuation.

Why aren’t more leaders willing to transform their business and seize the opportunity of our hyperconnected world? The answer is as simple as human nature. Innately, humans are uncomfortable with the notion of change. We even find comfort in stability and predictability. Unfortunately, the digital economy is none of these – it’s fast and always evolving.

Digital transformation is no longer an option – it’s the imperative

At this moment, we are witnessing an explosion of connections, data, and innovations. And even though this hyperconnectivity has changed the game, customers are radically changing the rules – demanding simple, seamless, and personalized experiences at every touch point.

Billions of people are using social and digital communities to provide services, share insights, and engage in commerce. All the while, new channels for engaging with customers are created, and new ways for making better use of resources are emerging. It is these communities that allow companies to not only give customers what they want, but also align efforts across the business network to maximize value potential.

To seize the opportunities ahead, businesses must go beyond sensors, Big Data, analytics, and social media. More important, they need to reinvent themselves in a manner that is compatible with an increasingly digital world and its inhabitants (a.k.a. your consumers).

Here are a few companies that understand the importance of digital transformation – and are reaping the rewards:

  1. Under Armour:  No longer is this widely popular athletic brand just selling shoes and apparel. They are connecting 38 million people on a digital platform. By focusing on this services side of the business, Under Armour is poised to become a lifestyle advisor and health consultant, using his product side as the enabler.
  1. Port of Hamburg: Europe’s second-largest port is keeping carrier trucks and ships productive around the clock. By fusing facility, weather, and traffic conditions with vehicle availability and shipment schedules, the Port increased container handling capacity by 178% without expanding its physical space.
  1. Haier Asia: This top-ranking multinational consumer electronics and home appliances company decided to disrupt itself before someone else did. The company used a two-prong approach to digital transformation to create a service-based model to seize the potential of changing consumer behaviors and accelerate product development. 
  1. Uber: This startup darling is more than just a taxi service. It is transforming how urban logistics operates through a technology trifecta: Big Data, cloud, and mobile.
  1. American Society of Clinical Oncologists (ASCO): Even nonprofits can benefit from digital transformation. ASCO is transforming care for cancer patients worldwide by consolidating patient information with its CancerLinQ. By unlocking knowledge and value from the 97% of cancer patients who are not involved in clinical trials, healthcare providers can drive better, more data-driven decision making and outcomes.

It’s time to take action 

During the SAP Executive Technology Summit at SAP TechEd on October 19–20, an elite group of CIOs, CTOs, and corporate executives will gather to discuss the challenges of digital transformation and how they can solve them. With the freedom of open, candid, and interactive discussions led by SAP Board Members and senior technology leadership, delegates will exchange ideas on how to get on the right path while leveraging their existing technology infrastructure.

Stay tuned for exclusive insights from this invitation-only event in our next blog!
Scott Feldman is Global Head of the SAP HANA Customer Community at SAP. Connect with him on Twitter @sfeldman0.

Puneet Suppal drives Solution Strategy and Adoption (Customer Innovation & IoT) at SAP Labs. Connect with him on Twitter @puneetsuppal.

 

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About Scott Feldman and Puneet Suppal

Scott Feldman is the Head of SAP HANA International Customer Community. Puneet Suppal is the Customer Co-Innovation & Solution Adoption Executive at SAP.

What Is Digital Transformation?

Andreas Schmitz

Achieving quantum leaps through disruption and using data in new contexts, in ways designed for more than just Generation Y — indeed, the digital transformation affects us all. It’s time for a detailed look at its key aspects.

Data finding its way into new settings

Archiving all of a company’s internal information until the end of time is generally a good idea, as it gives the boss the security that nothing will be lost. Meanwhile, enabling him or her to create bar graphs and pie charts based on sales trends – preferably in real time, of course – is even better.

But the best scenario of all is when the boss can incorporate data from external sources. All of a sudden, information on factors as seemingly mundane as the weather start helping to improve interpretations of fluctuations in sales and to make precise modifications to the company’s offerings. When the gusts of autumn begin to blow, for example, energy providers scale back solar production and crank up their windmills. Here, external data provides a foundation for processes and decisions that were previously unattainable.

Quantum leaps possible through disruption

While these advancements involve changes in existing workflows, there are also much more radical approaches that eschew conventional structures entirely.

“The aggressive use of data is transforming business models, facilitating new products and services, creating new processes, generating greater utility, and ushering in a new culture of management,” states Professor Walter Brenner of the University of St. Gallen in Switzerland, regarding the effects of digitalization.

Harnessing these benefits requires the application of innovative information and communication technology, especially the kind termed “disruptive.” A complete departure from existing structures may not necessarily be the actual goal, but it can occur as a consequence of this process.

Having had to contend with “only” one new technology at a time in the past, be it PCs, SAP software, SQL databases, or the Internet itself, companies are now facing an array of concurrent topics, such as the Internet of Things, social media, third-generation e-business, and tablets and smartphones. Professor Brenner thus believes that every good — and perhaps disruptive — idea can result in a “quantum leap in terms of data.”

Products and services shaped by customers

It has already been nearly seven years since the release of an app that enables customers to order and pay for taxis. Initially introduced in Berlin, Germany, mytaxi makes it possible to avoid waiting on hold for the next phone representative and pay by credit card while giving drivers greater independence from taxi dispatch centers. In addition, analyses of user data can lead to the creation of new services, such as for people who consistently order taxis at around the same time of day.

“Successful models focus on providing utility to the customer,” Professor Brenner explains. “In the beginning, at least, everything else is secondary.”

In this regard, the private taxi agency Uber is a fair bit more radical. It bypasses the entire taxi industry and hires private individuals interested in making themselves and their vehicles available for rides on the Uber platform. Similarly, Airbnb runs a platform travelers can use to book private accommodations instead of hotel rooms.

Long-established companies are also undergoing profound changes. The German publishing house Axel Springer SE, for instance, has acquired a number of startups, launched an online dating platform, and released an app with which users can collect points at retail. Chairman and CEO Matthias Döpfner also has an interest in getting the company’s newspapers and other periodicals back into the black based on payment models, of course, but these endeavors are somewhat at odds with the traditional notion of publishing houses being involved solely in publishing.

The impact of digitalization transcends Generation Y

Digitalization is effecting changes in nearly every industry. Retailers will likely have no choice but to integrate their sales channels into an omnichannel approach. Seeking to make their data services as attractive as possible, BMW, Mercedes, and Audi have joined forces to purchase the digital map service HERE. Mechanical engineering companies are outfitting their equipment with sensors to reduce downtime and achieve further product improvements.

“The specific potential and risks at hand determine how and by what means each individual company approaches the subject of digitalization,” Professor Brenner reveals. The resulting services will ultimately benefit every customer – not just those belonging to Generation Y, who present a certain basic affinity for digital methods.

“Think of cars that notify the service center when their brakes or drive belts need to be replaced, offer parking assistance, or even handle parking for you,” Brenner offers. “This can be a big help to elderly people in particular.”

Chief digital officers: team members, not miracle workers

Making the transition to the digital future is something that involves not only a CEO or a head of marketing or IT, but the entire company. Though these individuals do play an important role as proponents of digital models, it also takes more than just a chief digital officer alone.

For Professor Brenner, appointing a single person to the board of a DAX company to oversee digitalization is basically absurd. “Unless you’re talking about Da Vinci or Leibnitz born again, nobody could handle such a task,” he states.

In Brenner’s view, this is a topic for each and every department, and responsibilities should be assigned much like on a soccer field: “You’ve got a coach and the players – and the fans, as well, who are more or less what it’s all about.”

Here, the CIO neither competes with the CDO nor assumes an elevated position in the process of digital transformation. Implementing new databases like SAP HANA or Hadoop, leveraging sensor data in both technical and commercially viable ways, these are the tasks CIOs will face going forward.

“There are some fantastic jobs out there,” Brenner affirms.

Want more insight on managing digital transformation? See Three Keys To Winning In A World Of Disruption.

Image via Shutterstock

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Andreas Schmitz

About Andreas Schmitz

Andreas Schmitz is a Freelance Journalist for SAP, covering a wide range of topics from big data to Internet of Things, HR, business innovation and mobile.

3 Ways Robots Will Co-Evolve with Humans

Christopher Koch

Comments

About Christopher Koch

Christopher Koch is the Editorial Director of the SAP Center for Business Insight. He is an experienced publishing professional, researcher, editor, and writer in business, technology, and B2B marketing. Share your thoughts with Chris on Twitter @Ckochster.

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Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Drew Schiller

About Drew Schiller

Drew Schiller co-founded and serves as the Chief Executive Officer of Validic, the leading digital health platform for connecting patient-generated data from apps, wearables, and in-home medical devices to the healthcare system. At Validic, Drew leads the corporate strategy, drives key day-to-day initiatives, and works closely with senior executives at partner organizations to stay ahead of the innovation curve.

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Carolyn Beal

About Carolyn Beal

Carolyn Beal is senior director of Solution Marketing for Social Software at SAP. Her specialties include product marketing, marketing communications, CRM, and demand generation.

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Jayne Landry

About Jayne Landry

Jayne Landry is the global vice president and general manager for Business Intelligence at SAP. Ms. Landry joined Crystal Decisions in 2002 and came into SAP through the Business Objects acquisition in 2007. A seasoned executive with 20+ years of experience in the technology sector, Jayne has held leadership roles in high-tech companies in the CRM, mobility, and cloud applications space. Ms. Landry holds a Bachelor of Commerce degree from the University of Auckland, and has continued executive development with Queen’s University, Ontario, and through work with the Sauder School of Business at the University of British Columbia.

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim and Michael Rander

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Rick Knowles

About Rick Knowles

Rick Knowles is senior vice president (SVP) and general manager (GM) of the partnership between SAP SE and Apple, Inc. In this role, he oversees the strategic roadmap in building state-of-the-art applications for some of the most complex business systems in the world. Rick has been with SAP for close to 20 years, where he has held executive positions such as SVP and chief of staff, GM of One Customer Experience, and SVP and chief operating officer for SAP Americas, the company’s largest geographic market. You can follow him on Twitter @RickKnowlesSAP.

About Michael Rander

Michael Rander is the Global Research Director for Future Of Work at SAP. He is an experienced project manager, strategic and competitive market researcher, operations manager as well as an avid photographer, athlete, traveler and entrepreneur. Share your thoughts with Michael on Twitter @michaelrander.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Florian Wagner

About Florian Wagner

Florian Wagner is marketing director for IT audience messaging at SAP. Together with his team, he is responsible to address the IT audience and to drive relevant thought leadership topics. He writes about technology trends on digital transformation, cloud and platform strategies with a focus on customer experiences.

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Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

About Michael Brenner

Michael Brenner is a globally-recognized keynote speaker, author of  The Content Formula and the CEO of Marketing Insider GroupHe has worked in leadership positions in sales and marketing for global brands like SAP and Nielsen, as well as for thriving startups. Today, Michael shares his passion on leadership and marketing strategies that deliver customer value and business impact. He is recognized by the Huffington Post as a Top Business Keynote Speaker and   a top  CMO influencer by Forbes.

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Verena Wiszinski

About Verena Wiszinski

Verena Wiszinski is a Senior Integrated Marketing Specialist within the Global IT Audience Marketing team at SAP. She enjoys staying connected with customers and thought leaders and talking first hand with them about their experiences, thoughts, and needs within business transformation.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tags:

awareness