IHS Customer Recognition (CR): What is the strategic value IHS Goldfire provides?
Mitchell: The strategic value is that Goldfire is a semantic search engine that brings new power to researchers, scientists and engineers in organizations, typically enabling them to work with both a range of internal content - shared drives, SharePoint document management systems but also external content that IHS can provide. And that content ranges from things like IHS Automotive, IHS Janes, IHS Standards Expert; but a whole range of trusted content from the likes of the Institute of Physics, the IEEE, Medline, universities. This gives organizations the ability to be able to carry out their research across all of that content, including patents as well, through one portal. It can have a huge production effect, saving time for individuals when they come to do their work, being able to work in that type of instance. So, typically, when organizations work with their internal knowledge; they use Goldfire for competitive intelligence; and they use Goldfire for better semantic searching of information.
CR: Where do IHS Goldfire customers gain value when accessing their internal knowledge?
Mitchell: Goldfire customers gain value from their internal knowledge by enabling their information to be indexed and brought into the Goldfire environment. They can point Goldfire to a range of content, such as SharePoints, shared drives; and this means they can access that information through a single portal. Recently, I was working with a group of chemists, and they had a real dilemma. The IT organization had changed a number of times over the past fifteen or so years. They had done some work with an external organization and they knew that information was within their network somewhere. But they just couldn’t find it with typical legacy search tools. However, by using Goldfire and the same search terms they used with those legacy tools, they were able to pinpoint exactly where that information lay. This saved hours and hours of effort, and they probably did it in about a third of the time that would have taken them to actually find the information in the first place. And this is not the only time I’ve seen this happen. It’s repeated in many different groups of engineers and scientists that I work with who use – and make the most of – Goldfire by indexing their internal information.
CR: Where does IHS Goldfire impact users undertaking competitive intelligence research?
Mitchell: Goldfire can impact competitive intelligence research in a number of ways, particularly around accuracy of information; but also from a point of view of getting to the information in a more effective and timely manner. A recent industrial organization I’ve been working with used competitive intelligence to look for new products and opportunities to develop their ideas into new markets. And they typically were using three or four third party tools, and typically taking a couple of weeks to do a report, a competitive intelligence report. However, the new user who picked up Goldfire was able to complete his piece of work in just one day – much, much quicker and more effective than previously. Typically, as well, he found that the work he’d been doing around the patent knowledge and working with forward citations (which he’d done always in a manual process) was not as accurate as he expected it to be. He now feels that Goldfire is giving him accuracy that was missing. And it’s going to give him the opportunity to be much more precise about the results he gives to his peers to enable them to do the work that they’re expected to do, having picked up that report he has presented.
CR: What value or major impact does IHS Goldfire provide for scientists and researchers?
Mitchell: Goldfire’s semantic technology provides huge value to a scientist or researcher. Working with a small deployment of Goldfire recently and company who were looking at medical devices, they were looking at state-of-the-art and how that product had evolved in the last ten years. They were finding their existing search tools were just swamping them with information and they were unable to find anything of real value. So they turned to Goldfire and, in fact, what they did with Goldfire in two hours was more than they had done in the previous four weeks. It was much, much more effective and they learned a considerable amount about the product development. In fact, the researcher who did the work gave me a wonderful quote, which was “How do you read three thousand documents without reading three thousand documents?” And when I asked him “What do you mean? How do you read three thousand documents without reading three thousand documents?” – he turned around to me and said, “You have to use Goldfire.”
One researcher asked, How do you read three thousand documents without reading three thousand documents?... he turned around to me and said, You have to use Goldfire.