Statistics You Should Know about Enterprise Search Platforms

An enterprise search platform is different from the web search that people use to find information on the web. Enterprise search platform is a platform that is designed to help enterprises make use of the most advanced text mining capabilities in order to analyze and derive insights from the large volumes of enterprise data. 3RDi Search is an example of a comprehensive enterprise search platform that offers a host of data mining and data analytics capabilities to help organizations to bring out all the information that’s hidden deep within enterprise data. It also offers highly relevant results that create a smart search experience. Another example of a good enterprise search tool is the Algolia which also focuses on relevancy management of results to help users find the right information quickly and effectively.

In order to understand the importance of an enterprise search platform in today’s scenario, and why every enterprise today needs them, this article brings some facts and figures about the enterprise search domain.

• In the last 2 years alone, the amount of data generated was greater than the data generated in the entire human history.
• The biggest revenue earned from Big Data was the IT services industry at an estimated profit of $77.5 billion.
• It comes as a great surprise that around 99.5% of data collected by enterprises never gets used or analyzed, which shows a huge gap that can be fulfilled by an advanced enterprise search platform.
• The potential of Big Data is such that companies that can successfully harness it can increase their margins by as high as 60%.
• In the domain of healthcare, studies show that around $300 billion can be saved every year with the implementation of Big Data Analytics.
• With an increase of data analytics by 10% only, Fortune 1000 companies can gain more than $65 million.
• Most organizations across the globe are only able to analyze less than 50% of data collected from various sources.
• Interestingly, there is a large number of executives who believe that organizations that fail to embrace Big Data would have a high chance of ending up in bankruptcy.
• Every year, 2.5 quintillion bytes of data is generated across the globe.
• Here’s another good reason to invest in an enterprise search platform to analyze Big Data – 65% of organizations that have implemented it have witnessed significant results.
• Data-driven organizations have far greater chances of gaining customers than the ones that are not focused on data.
• Businesses across the globe are spending big, as much as $187 billion, on data analytics software that can help them make the best use of the large volumes of data.
• By the year 2021, businesses that are driven by data would be taking an average of $1.8 trillion more in revenue every year, when compared to the organizations that don’t.
• Organizations that have been prompt in investing in enterprise search platforms to make the best use of their data, are 23 times more likely to gain a competitive edge as compared to their peers.
• It’s an amazing fact that one can fill 10,000 Libraries of Congress with the volume of data created by US companies alone each year.
• Most organizations in the world are only able to analyze 12% data they have, largely due to the lack of advanced data analytics tools.
• The total number of smart connected devices in the world is currently 50 billion and counting.

So, that was about some very interesting facts about Big Data and the role of Enterprise Search platforms for today’s enterprises. Today, when Big Data plays such an important role in the success of enterprises, these statistics go further on to prove that every business needs to take good measures to make the best use of the large volumes of data that they have with them.