Neil Thackray’s Business Media Blog

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Notes from The E Publishing Innovation Forum

So we are listening to David Craig the Strategy Director of Thomson Reuters.  He says there is a volume war in information. Are we going to play in the volume war or the insight war?  Their users feel bomabarded with information and data noise.  The challenge for TR is how to help their users discriminate between the useful and the useless.

TR process 10billiion daily stock market prices and 400000 data updates a  day in total – a total that has grown by a factor of four in two years- an example of the scale fo the information challenge.  Moores law creates more information than it creates processing power to deal with it.

Just because there is more information doesn’t in itself mean that there are more revenue opportunities.   So for TR the journey is about how to get to intelligent information, what David calls, “the next horizon”.   A three stage process from access to information to workflow tools to improve user priductivity (where does content stop and software and tech start he wonders, and finally to “intelligence”.  This is about linking TR information to data in the outside world.  How to expose contest and knwledge to show insight and decision making perpectives.  TR strategy is all about the journey to this third destination – the provision of insight to aid decision making.

Einstein said “information is not knowledge”.  Info needs to have six attributes, context, availability trust, timeliness,actioanable, self describing all linked together to provide actionable insightful information.

Craig says there is a perfect storm of change.  An economic shock, new tech – especially mobile, new competitors and substitutes and changes in the regulatory environment all operating together.   

The four main changes for info companies are the economic shock + the global shift+ the professional cloud (ie networks)  + the velocity and volatility of information. 

For the global economy in the future there will more regulation, less financial leverage, greater global coordinattion and increased protectionism, a greater need for risk management and transpareency and the growing influence of Asia.

Craig comares the rapid speed of the adoption of th eipod compared tto the landline phone.  What’s the next thing.  It’s coming fast.  The lifetime of  the top 500 S &P companies has dropped from 80 years in 1930 to just 15 years today.  Google is just 7 years old is already pretty mature.  Velocity is increasing.  And so is volatility. This makes it harder to spot where the trends are and where we might end up.

What is clear is that speed and content accuracy is vital.

Professional networks – are they an inconvenient truth.  USers choose what information they need and who they interact with.  TR wants to help their users reach their network.  Example of research scientists.  Researchers need collaboration, publishing research and funding.  As a result TR has devloped a collaboration netwrok called Researcher ID. Researchers put their “ID on their website which taks the users to a unique ID ladning page which aggregates data about the researhcers published work, his citations etc. This validate for the user the pedigree of the researcher and helps them find collaboration partners.  The tool shows the researchers network by geography and expertise.  So this is TR creating added value networks – specialised  in a way that the Linked Ins of the world would struggle to deliver.

 I missed most of the presentation from Julian Shambles of The Telegraph.  He seems to be saying that online is different, that rewriting headliines for SEO is worthwhile, that social newtrk sites and digg is important, that their content and writers don’t have to change, but the presentation of those stories does.  Getting high up in google news results drives traffic.  Nothing new here.

 

 

 

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May 19, 2009 - Posted by | Uncategorized

2 Comments »

  1. What’s up, is there anybody else here?
    I was just wondering if anyone had any investment tips for this bad market?
    If there are any real people here looking to network, leave me a post.

    Bye,

    Comment by CreankCrasy | August 13, 2009

  2. Hi everyone

    Im a newbie here, although i have been watching on the sidelines for a little while.
    Im a part time librarian, love baking and my wesie Daisy. I also am way too excited about Christmas for words!!
    I cant wait to get on here some more and ‘meet’ lots of new people!

    thanks.

    Comment by cashonline | April 8, 2010


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