Why Enterprises Should Invest in Digital Asset Management
The biggest riddle companies today are trying to solve is – What qualifies as a digital asset? Digital assets are not merely data stored in black books, regattas, software solutions, digital production equipment, etc. They could be intangible data pieces that triggered a profit, yet quantifying it on a balance sheet may have been difficult. With the onset of digital ecosystems and constant change in the way data is shared, consumed and implemented, Digital Asset Management (DAM) is a concern many CTOs and CFOs have yet to address with competent solutions.
Right from hunting for assets, re-creating them because of a lack of standard documentation or search approach, to storing outdated versions of solutions, and worst of all, data duplication, enterprises need a way out of this digital content chaos. What constitutes as digital assets for each enterprise is starkly different. However, the role that digital asset management plays in a company’s efficiency and productivity comes with a cost-effective price tag.
Enterprises like Amazon, Uber and Ebay, through coherent DAM strategies are already making their digital assets work for them. Millennials are the forerunners in experiencing and adopting these benefits as they are attuned to an omni-channel approach in their interactions. Having said that, it has become relatively simple for tech savvy asset managers to know, guide and wow customers, all by effectively utilizing DAM’s offerings.
Getting the answers to justify your enterprise’s need for a DAM strategy and roadmap is not too difficult. Here are the top reasons:
Brand consistency across channels
No organization wants to stand the risk of being wrongly interpreted by either its customers or its employees. Armed with a DAM system it’s easier to have full control on all kinds of content published or accessible across multiple channels. An automated platform lets you manage both global and local assets effortlessly even as teams work on further renditions.
A framework with various in-built functions
Storing data and making it accessible in silos to a pre-requisite set of people is only half the job done. In some cases these assets also need to be distributed, tracked and secured from data breaches. In such cases a DAM system helps activate and organize this process in an effortless manner.
Every enterprise makes a gamut of decisions everyday that translate into new digital asset creations. In order to have a first mover advantage, enterprises who understand the core value of these unique assets are constantly looking for exploitation methods to harness the best results. A robust digital asset management roadmap will help realize this formula for success.
Apart from this, enterprises looking to relish the luxury of having a competent data asset management system that runs parallel to their business needs can expect the following advantages:
DAM systems reduce the time spent in sharing both first creations and edited versions of an asset via multiple channels. They also provide incredibly efficient workflows making it easy for project managers to view progress, give feedback and approve final versions; all this, in as good as real time. By using meta tags and image detecting filters, it also reduces the time spent in searching files and eliminating the need for re-creation.
A continuous learning process
DAM opens the doors to feedback and reconfiguration of digital assets like very few other platforms. This holds true for internal as well as external executions. It helps your teams understand the needs of the customer or end user and formulate an alternate even as they are building the end solution.
Understanding your organizational needs
Coupled with big data analytics, DAM can provide insights into the most-searched terms used within your organization, trending topics and also understand the language used to identify these assets. On an external front, it helps track downloads, gauge current trends and also helps ensure that assets are tagged efficiently.
DAM in a world powered by AI
The landscape of DAM is witnessing constant innovations in its own product offerings and user engagements. With Artificial Intelligence (AI) infusing new life into all the technology that we interact with, it is already opening up newer avenues in digital asset management.
Through sophisticated yet user friendly workflows, image recognition, auto tagging data sets and many more advancements DAM is gaining new ground as it partners with AI. In fact, AI is the new and idea DAM employee committed to automating the time-consuming ordeal of drawing ideal categorizations through object detection, similar image search, face recognition, global landmark tagging – the list has just begun.
While challenges still exist in recognizing product pictures, for e.g. telling a hexagon head screw from a rounded head screw, the future looks incredibly promising as steady developments are seen even in the nascent stages of this collaboration.