Will Enterprise Search and Text Analytics Become One Product? 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 every day searching for what they can’t find. What’s in the future? According to Grand View Research, and their industry analysis of the enterprise search market, enterprise search will grow to USD $5.02 billion by 2020, (hey, does anyone ever go back and check these predictions?). 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.
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 uses a great deal of resources, both hardware and people, and results aren’t necessarily quickly delivered. Quite a big difference than whipping out a typical spreadsheet. Plus the amount of content is exploding every year. At some point, like now, it becomes unmanageable.
For this to happen, enterprise search better improve by leaps and bounds (not ours of course) and new analytics tools that are business user driven need to be developed. Maybe they are, and I just don’t know about them. On the negative side, most organizations do not manage their content proactively, some don’t even have search turned on, and some 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.
(If you have a few minutes and use SharePoint or Office 365, could you kindly take our metadata survey? You could win a free conference pass to Microsoft Ignite. We would greatly appreciate it)