Is the Boundary Between Search and Text Analytics Beginning to Blur? Good Luck.
Enterprise search has always been viewed by most as lacking in findability. According to statistics, business users still spend quite a bit of time each day searching for what they can’t find. What does the future hold?
According to Grand View Research’s industry analysis of the enterprise search market, enterprise search will grow to USD $5.02 billion by 2020. The growth can be attributed to the “need to manage large volumes of data efficiently in an organization so as to improve operational efficiency.” These enhancements are to include security, at the document level I assume?
According to the report, “the large enterprises segment is expected to dominate the market over the next six years, which can be credited to the need to search accurate data across a vast database.”
Although we are a search vendor, I can envision, in idea only, combining text analytics and enterprise search. Text analytics tools require a high level of expertise, currently use a great deal of both hardware and personnel resources, and results are not necessarily delivered quickly. That is quite a big difference from a typical spreadsheet. Plus, the amount of content is exploding every year. At some point, like now, it becomes unmanageable.
For this combination to happen, enterprise search better improve by leaps and bounds, and new analytics tools that are business user-driven need to be available. Our products are business-ready and successfully used quite frequently for knowledge management and text mining.
Most organizations do not manage their content proactively – some don’t even have search turned on, and others still lack the ability to integrate diverse repositories into a single user interface. If all this is to happen before 2020, I would say good luck. Someone has a lot to do. What are your plans?