PITTSBURGH, Aug. 31 /PRNewswire/ -- Vivisimo, a leader in information optimization, today announced that the exponentially growing pool of employee-generated data is estimated to be costing U.S. businesses $1.5 trillion in lost worker productivity as a result of people spending additional time looking for the information they need to do their job both within and outside their organizations. According to analyst firm IDC, every week employees spend nearly half their work week (or 20 hours) trying to find the right information. 75% of employees complain about information overload and 45% are reportedly overwhelmed by all the information. Moreover, IDC predicts that the amount of information will continue to grow exponentially, upwards to 65% every year(1). As a recipient of KMWorld's 2010 Trend-Setting Product Award, Vivisimo's Velocity platform has been tasked with the responsibility to not only help reduce millions of dollars in lost worker productivity but better enable those organizations to use that information to increase sales.
To reduce the trillions of dollars in lost worker productivity, a recent Thompson Reuters study, "Intelligence, Intuition & Information," explains that "the key is to build information systems around the 'Hierarchy of Information Need (HIN)' in order to help optimize unlocked data, enable information connectivity, and contextualize intelligence." According to the paper, trusted, connected, and contextualized data are the most basic Hierarchy of Information Needs. To learn more about this study, please visit the following blog penned by Vivisimo's Director of Product Management, Stacy Monarko.
"With the onset of new digital technologies like Web 2.0, Wikis and networking profiles, the capability to quickly and accurately find the most contextually relevant information has become increasingly difficult for many companies," remarked Tracey Mustacchio, Vice President of Marketing for Vivisimo. "The amount of content that employees are producing, reviewing and searching for is going unchecked, which in turn is causing both a financial and operational misstep within organizations. Vivisimo helps counter the explosion of data by harnessing its Velocity platform to optimize that data and deliver the contextually-relevant information that employees need within a matter of seconds."
Vivisimo's Velocity Receives Industry Accolade
This year marks Vivisimo's 6th consecutive recognition as a KMWorld Trend-Setting Product of the Year. KMWorld's panel of judges, which consisted of editorial colleagues, analysts, system integrators, vendors, line-of-business managers and users, evaluated more than 600 products for this year's Trend-Setting Products Award. Vivisimo's Velocity platform was awarded for its pioneering ability to socialize and contextualize the data retrieval process. Vivisimo effectively scans and processes the right information, for the right person, at the right time.
"As one of the consecutive winners of KMWorld's 2010 Trend-Setting Product of the Year, Vivisimo continually demonstrates that it's Velocity platform is optimizing the copious amounts of knowledge and information that both employees on the backend and customers on the front end are looking for," said Hugh McKellar, Editor-in-Chief, KMWorld. "We congratulate Vivisimo on its efforts to push the envelope within enterprise search market by witnessing how its commercial and government clients are tailoring its information optimization technology to handle an ever-changing world of content."
KMWorld (www.kmworld.com) is the leading information provider serving the Knowledge Management systems market and covers the latest in Content, Document and Knowledge Management, informing more than 50,000 subscribers about the components and processes - and subsequent success stories - that together offer solutions for improving business performance. KMWorld is a publishing unit of Information Today, Inc. (www.infotoday.com)
About Vivisimo, Inc.
Vivisimo provides enterprises with information optimization solutions that help maximize the business value of information. Unlike traditional information management products, Vivisimo's innovative solutions help end-users find and take advantage of all appropriate and available information, regardless of source, location or type. Vivisimo's innovative technology is delivered with a focus on end-user satisfaction and application control through easy-to-use interfaces, flexible security management and a modern architecture that enables quick deployment. Vivisimo products are available as standalone information optimization applications or as OEM versions embedded within partner applications and solutions. Vivisimo serves its clients from headquarters in Pittsburgh, USA, and through partners around the world. Visit Vivisimo.com for more information.
(1) Cutting the Clutter: Tackling Information Overload at the Source" by John Gantz, Angele Boyd and Seanna Dowling from IDC