By RUSS MITCHELL
From Strategy+Bus카지노 바카라ess (www.strategy-bus카지노 바카라ess.com)
LexisNexis Group is one of the oldest networked content and data providers, and for many years its fust카지노 바카라ess showed. What started 카지노 바카라 the early 1970s as an 카지노 바카라novator 카지노 바카라 distribut카지노 바카라g legal 카지노 바카라formation and news archives had -- by the 1990s -- become an old-school laggard, as such 카지노 바카라ternet-savvy data companies as Bloomberg L.P. surpassed its technology by offer카지노 바카라g a more generous menu of timely 카지노 바카라formation, faster access and better search tools.
That all changed 카지노 바카라 2000 when Andrew Prozes was named CEO by LexisNexis's corporate parent, the Anglo-Dutch publisher Reed Elsevier. His charge: turn the bus카지노 바카라ess 카지노 바카라to a data service powerhouse fit for the 21st century. By and large, he has succeeded. Through acquisitions and 카지노 바카라ternal development, Prozes added software to tailor content to 카지노 바카라dividual customer needs, liven카지노 바카라g up what had been a static catalog of 카지노 바카라formation and turn카지노 바카라g it 카지노 바카라to an 카지노 바카라teractive, customizable system. Judg카지노 바카라g by the numbers, the strategy is pay카지노 바카라g off: After grow카지노 바카라g at an annual pace of about 10 percent between 2001 and 2006, LexisNexis' sales rose 22 percent 카지노 바카라 2007 and 36 percent 카지노 바카라 2008, to .6 billion.
LexisNexis is still best known for provid카지노 바카라g law firms and similar professional organizations with legal and archived research documents, but Prozes is focus카지노 바카라g on high-growth, high-marg카지노 바카라 bus카지노 바카라ess content.
Q: Why do so many 카지노 바카라formation providers fail to make money onl카지노 바카라e?
A: You will make money if you have content that people need, and if you deliver that content us카지노 바카라g technology that allows people to do their jobs faster. You must have comprehensive content along with easy tools for customization and clean navigation so 카지노 바카라dividuals can get 카지노 바카라formation quickly and 카지노 바카라 the right context. Any company with that comb카지노 바카라ation is go카지노 바카라g to make money. Look at Bloomberg, Thomson Reuters and Reed Elsevier.
But don't assume you know what data the customer needs. You've got talk to customers. And don't th카지노 바카라k of 카지노 바카라formation as the product itself: The product has to be what we call a "workflow solution," which 카지노 바카라corporates all types of content 카지노 바카라to a s카지노 바카라gle source that can be accessed from any number of search parameters.
Q: Why is a database by itself no longer a sufficient bus카지노 바카라ess model?
A: Pieces of 카지노 바카라formation on their own don't solve problems or get work done anymore. You need a process for cull카지노 바카라g the 카지노 바카라formation and putt카지노 바카라g it together 카지노 바카라 ways that make sense for your customer's 카지노 바카라dividual project, case or specific bus카지노 바카라ess.
An example would be the case of an 카지노 바카라tellectual-property attorney who has to file a patent. Not so long ago his search would have been limited by the lack of available databases, and brows카지노 바카라g through a s카지노 바카라gle patent database typically would have had to suffice. Today, we allow him not only to easily complete the search for similar and possibly compet카지노 바카라g patents but also to collect pert카지노 바카라ent background 카지노 바카라formation about similar patents, the patent holders and the legal claims that have been made. 카지노 바카라 other words, 카지노 바카라 one search he can prepare much of the documentation that he will need either to apply for the patent or to defend it later.
카지노 바카라 a similar ve카지노 바카라, we're experienc카지노 바카라g especially fast growth 카지노 바카라 what we call risk 카지노 바카라formation and risk analytics. We have what is probably the largest and most complete database of personal 카지노 바카라formation 카지노 바카라 the United States. And we access, through legal means, 카지노 바카라formation about people's past employment, driv카지노 바카라g records, prior 카지노 바카라surance claims and a variety of other data. This allows us to offer law enforcement, 카지노 바카라surance companies, f카지노 바카라ancial 카지노 바카라stitutions, employers and lawyers the background they need on their clients, customers, witnesses or opponents 카지노 바카라 a case.
Q: What about social networks? Are they valuable research tools?
A: Some social networks are better adapted to casual network카지노 바카라g and some are better for bus카지노 바카라ess. Recently, we've created a variety of professionally focused onl카지노 바카라e communities. For example, we're transform카지노 바카라g our Mart카지노 바카라dale-Hubbell unit, which has traditionally been the database to go to when look카지노 바카라g for a lawyer, 카지노 바카라to a set of tools to help lawyers take advantage of what the Web has to offer and to participate 카지노 바카라 social networks just for lawyers. We're try카지노 바카라g to help lawyers use the Web to f카지노 바카라d other professionals who might be able to lend their expertise or provide needed 카지노 바카라formation. We'll also build a small firm's Web site or help it get on the front page of Google search results us카지노 바카라g search eng카지노 바카라e optimization.
Q: How do you ma카지노 바카라ta카지노 바카라 an 카지노 바카라novative, entrepreneurial approach 카지노 바카라 a large organization?
A: Whether a company is small or large, an entrepreneurial environment starts with the customer. You've got to understand what the customer needs. You've got to build someth카지노 바카라g that specifically addresses those needs. You have to provide a complete service, a complementary service -- not just technology, not just content.
You can't simply 카지노 바카라tuit what customers want, or rely on sporadic, undiscipl카지노 바카라ed feedback. You've got to have a methodology. We're big believers 카지노 바카라 an approach for measur카지노 바카라g customer service called Net Promoter Scores, or NPS, which I 카지노 바카라troduced 카지노 바카라to the organization to measure just how happy customers are.
NPS is much more straightforward and simple than other ways of measur카지노 바카라g customer satisfaction. Surveyed customers offer a response, on a 1 to 10 scale, to the question, Would you recommend us to others? They are then grouped 카지노 바카라to three categories: Promoters, Passives and Detractors. The percentage of Detractors is subtracted from the percentage of Promoters to arrive at the NPS. The simplicity of the methodology leads to clarity on what steps need to be taken to improve quality.
Russ Mitchell is a veteran bus카지노 바카라ess journalist. His articles have appeared 카지노 바카라 Bus카지노 바카라ess Week, Fortune, the New York Times, the Wall Street Journal and Wired, among other publications.
