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Companies ignore social business strategy at their peril

Companies that don't get on board with social business, the sharing economy and the Internet of Things do so at their peril, says an expert.

Listen to part one of this podcast.

Over the past couple of years, trends like social business, the sharing economy and the Internet of Things have had serious impact on enterprise information management. Social business and the collaborative economy have brought customers into company operations like never before, enabling customers to voice their preferences, provide input on production innovation and even contribute to company processes. And the Internet of Things and wearables promise to generate massive amounts of data about customers and how they use products in ways we can't envision today.

Companies that don't acknowledge trends like these do so "at their peril," noted Ron Miller, an enterprise technology reporter and content management expert, who weighed in on these trends in a recent podcast on SearchContentManagement.

Social business. This trend has been making an impact for a couple of years and has changed a much about how companies interact with customers. In the old days, Miller said, "You wrote your marketing copy, your ads and people would come to you. But with online, it's all turned around. With online social tools, they do their own research and talk to one another. Companies out there who are not taking this seriously do so at their own peril."

The collaborative economy, customer economies. Miller said that the power of the crowd is self-policing for companies and individuals. It can also help generate a host of new ideas "Community members … let someone know when something isn't cool. They provide an unfiltered view of customers. They can also act as your help desk. They can even help you to find your product roadmap."

IoT, wearables. Miller noted that these new data streams will probably trigger new ways of doing business and the need to manage ever-larger streams of data. The impact of these trends is still yet to come, Miller said, but "one thing we know is that sensors will be providing tons of data moving forward. How this data will be managed will also be a major theme next year. "Some will probably be managed by a [content management system], some by other platforms. We could start to see certain types of information trigger certain types of business processes."

For more, click on the podcast link above or download the podcast.

Next Steps

The CDC on social going viral

Is the sharing economy always good?

Modernizing collaboration software

This was last published in December 2014

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Does your company use ECM software in the cloud? What about collaboration software?
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Operating in a global market is the bar for most businesses today. A step towards achieving this goes in hand with using the Collaboration software. My company can today share any computer files as well as co-author the same via the cloud. Unnecessary repetition is another common problem in data storage. To curb this, my company utilizes the ECM. It has enabled us to save plenty of time and money in storing redundant content.
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