How to apply business intelligence to the online newsroom
Published on February 23rd, 2011 by Michael Starzynski
The conventional online corporate newsroom is set for some major changes in the next 12 months. Posting press releases solely for your audience’s consumption is a thing of the past, and won’t be enough to compete in this era of content generation and knowledge sharing. The advent of social media has introduced active audience participation via Twitter, Facebook fan page links, sentiment analysis and a raft of other capabilities, and has transformed the newsroom from a passive information source to one that solicits active participation and immediate feedback. We could call this a “Web 2.0 newsroom.”
The next generation of newsroom – the “Web 3.0 newsroom” — will bring with it a new functionality, greater analytic capability and ubiquitous mobile access. What else can you expect?
- This newsroom will be linked to the business intelligence engines of the Internet, both inside and outside the corporate firewall. The powerful analytic engines used to spot trending and affinity between products and releases — and indeed the competition — will move to the forefront. News and social media releases will be packaged with trend information supplied by the large corporate data warehouses which sit in the back office of most corporations.
- Data warehouse suppliers like MicroStrategy have made incredible advances in real-time analytics, eliminating the need for companies to wait for overnight processing of critical business data. Near real-time information “cubes” will be calculated and made available with the distribution of a press release. Today we ship XML, tomorrow we will see intelligent cubes shipped by subject matter, geography, product, company or other areas of interest, that add context and perspective to information. These cubes will be packaged as remote SAAS or local, allowing companies to extend and enrich the information; pricing models will reflect the flexibility and deployment options.
- Customers, investors and other stakeholders will enjoy massive flexibility on how they view press releases, creating “what-if” scenarios against financials, debating the merits of decisions and product profiles compared against geographical penetration and balanced against competitor profiles. Self-service reporting and dashboards for key decision makers will change the nature of the interactions with a newsroom.
How will we access all this capability? 2010 marked the first year in which smart phones outsold PCs by 10%, and this trend is not expected to subside. Corporations without a mobile strategy to support the newsroom will be left behind. The ubiquitous newsroom and its portable analytics will enable a new generation of customer and investor, and provide them with real-time information upon which real-time decisions can be made, and immediate feedback and intelligence can further guide the decision-making process. And all this from anywhere in the world!
What’s interesting in all of this is that it will occur without a major spend on IT staffing: No more queuing for IT attention, no more long-running reports, importing and exporting between systems – hoping that a report can be generated in a couple of days. Our whole perception of time will change – a year is a month, a month is a day, a day is an hour.
The companies who will succeed with the “Web 3.0 newsroom” are those with access to this freedom and capability; they will garner investors and communities of interest. The information you share is a reflection of your capability. Are you ready?