Enterprise Search in 2020 and Beyond
One of the biggest challenges faced by enterprises today is the explosive growth of data. We live in the age of information and data has emerged as the biggest driving force for enterprises today. As the data continues to grow, enterprises are realising the fact that the traditional keyword-based approach is not sufficient to analyse this data anymore. This is because data is no more just textual but consists of multiple formats, including emails, social media feeds, images, documents, PDFs and more. This amalgamation of a large number of different file formats, some of which are not even accessible by traditional methods of search, is the actual challenge that has emerged in the last few years. The term 'unstructured data' is used to define this unorganised and seemingly random data that is available with enterprises today.
According to the International Data Corporation (IDC), almost 80% of enterprise data will be unstructured by 2025.
How Enterprise Search Tools Bridge the Gap
The reason data has emerged as a challenge is the fact that the traditional keyword-based search approach does not apply to unstructured data. New age enterprise search platforms bridge this gap by providing businesses today with a powerful tool that is well equipped with the technology essential for analysing unstructured data.
A new age enterprise search platform like 3RDi Search is powered by a text analysis API – Retina API – which has all of the text mining capabilities one can think of, few of them are as follows:
- Named Entity Recognition
- Sentiment Analysis
- Content Classification
- Semantic Similarity
- Content Summarization
- Ontology and LOD Mapping
- Natural Language Processing
These capabilities make the new age enterprise search platform the ideal solution to the challenge of unstructured data. Hence, these platforms are the need of the hour for businesses to make the best use of the data for informed decision making.
The Enterprise Search Platform in 2020 and Beyond
Even though enterprise search has evolved, there is still a long way to go because the data is getting more Complex by the day. However, the Global market is witnessing growth and it's here to stay.
A Grand View Research finding states that the Global enterprise search market is expected to reach 8.90 billion US dollars by 2024.
This growth will be fuelled by the need for time saving solutions for enterprise search which will help organisations find the relevant information in the shortest possible time frame. Here are a few points on Enterprise in 2020 and beyond.
- Security is an important aspect of data management and analysis and so the enterprise search software will have advanced security features to prevent unauthorised access to sensitive data.
- The demand for platforms with powerful search capabilities will continue to rise, increasing the size of the enterprise search market.
- This year as well as the next few years will witness shift in what is defined as data. The shift will be all about the focus moving from the organisation data in the databases, to the unstructured, unorganised and unpredictable data.
- Intelligent search driven by artificial intelligence is becoming the norm and this will get bigger and better in the years to come. These platforms will witness users interacting with them results in return, speaking out their queries and getting the most accurate results.
- Enterprise search platforms will emerge as the single most important tool for businesses to boost productivity increase revenues and stay ahead of the competition.
The year 2020 and the next few years will witness enterprise search attain new Heights with the introduction of breakthrough Technology. The future holds a lot of possibilities and there will soon be a time when the search experience will be all about humans and machines interacting with one another, giving inputs to as well as get updates as and when required.