Organizations are realizing that there is valuable information hidden within their legacy files (both paper and electronic) which can now be efficiently identified due to improved methods for extracting metadata. Metadata has several forms and can be located within many areas. For example, in the oil and gas industry, metadata contains information pertaining to fields, basins, geological provinces, etc. In addition to the company, third parties may use or need the metadata - contracting companies, vendors, fabricators and partners.
The importance of accurate and accessible metadata should not be undervalued. Accessible metadata attribution provides end users with confidence that the origin, history, and integrity of each attribute comes from a reliable source. Document metadata is also utilized to populate system profiles for easy end-user access and less end-user copies.
Many organizations struggle to enforce the information management standards, processes or procedural guidance for metadata; often due to cost or resource constraints. However, with the right course of action, companies can unlock the value in previously inaccessible metadata and documents.
There are many metadata challenges that organizations are currently facing today, such as:
- Metadata is available but has not been extracted to populate system attribution
- There is a lack of consistent use of metadata
- There is no efficient method for quality-checking existing metadata
- Information is stored in unstructured drives and cannot be instantly located
- There is too much information to analyze and not enough manpower to do so
- Documents containing foreign languages have not been translated
- Existing paper or tape media is aging and deteriorating by the year
- Information that was inherited during mergers and acquisitions does not contain data consistent with the acquiring company’s standards and systems