What is the True Cost of Wasted Time? 

What is the True Cost of Wasted Time?

How much money is your organization losing from wasted time? That’s a question that keeps most executives awake at night.

What time-wasting inefficiencies can be fixed? What processes can be streamlined? How can I make better use of the time of my talented staff and the dollars in my limited budget?

You are not alone in these thoughts. This problem is widespread, to say the least. Research house IDC found in a recent study that data professionals are losing 50% of their time every week, broken down as:

Chart Time Spent

U.S. organizations lose $1.7 million in wasted time for every 100 employees. For example, a 2,000-employee enterprise would lose $34 million per year in wasted time.

As executives try to find the areas where time is wasted, they often notice how research tasks soak up large portions of the workday for employees across their organization.

And as we all know, there’s only so much time in the day. So when a researcher spends time hunting through documents and artifacts for a valuable piece of data, that time can’t be spent working on the next initiative. The ripple effect is devastating to productivity, innovation, and progress itself.  

There is a way to accelerate research tasks

Everyone wishes there was a faster, more precise way to conduct research. Well, one of the most research-intensive organizations in the world may have found that way.

For the Los Alamos National Laboratory, research is everything. Scientists, nuclear physicists, engineers, and production specialists must be able to quickly and precisely find data as they conduct work that supports nuclear deterrence.

Without being able to search their vast collection of data, reports, and analyses as efficiently as possible, the Lab would waste tens of millions of dollars annually in time spent by researchers performing redundant research, studies, and experiments.

So what did the Lab do? They implemented an artificial intelligence / machine learning (AI/ML) solution from Titan Technologies that will make information from digitized documents easier for researchers to find.

In this article, the Lab shares details of how this solution is helping researchers improve their access to crucial data contained in more than 50 million pages of information, while saving more than 400 years worth of staff hours.

The bottom line: if you save time, you save money

By transforming and enriching unstructured, semi-structured, and structured content into useful information, and using Natural Language Understanding (NLU) technology, our AI/ML product connects researchers to more useful answers to their complex questions.

The end result? Analysts and specialists discover valuable, insightful data faster than ever before.

“Investing in AI/ML saves countless hours and many millions of dollars, while directly contributing to the Lab’s mission success and our nation’s security,” writes Rizwan Ali, the director of the National Security Research Center, which is the classified library at Los Alamos National Laboratory, in this article.

Intrigued? If you would like to find out how AI/ML solutions could reduce your organization’s cost of wasted time, contact us at info@titantechnologies.com or 1-800-897-5380 to discuss your goals and see if you can realize the same tremendous benefits as the Los Alamos National Laboratory – or even better.


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