Internal dysfunctions and siled deployments hamper enterprise research, despite increasing investment, says Coveo Research


GlobeNewswire
2021-12-07

Ninety-nine percent of organizations struggle to deliver relevant search results, leading them to seek out external partners and new approaches to application development such as low code

MONTREAL and NEW YORK, December 7, 2021 (GLOBE NEWSWIRE) – According to a new study by Coveo Solutions Inc. (“Coveo” or the “Company”) (TSX: CVO), a relevance platform and applied AI leader that transforms digital experiences with AI-powered search, recommendation and personalization. Coveo today released a report examining the findings and providing organizations with practical advice on overcoming the challenges that hinder business search relevance.

Organizations understand that research is critical. Eighty-one percent say its importance has increased in the past 12 months, according to a survey of more than 600 IT professionals responsible for business applications, including research. Ninety-two percent say their users expect their business search to be as good as Google. But despite an increased investment in search over the past year by 85% of IT pros, virtually all organizations (99%) struggle to deliver relevant business search results to their users.

“The data proves that organizations are facing a research relevance crisis that threatens many aspects of their business,” said Louis Tetu, President and CEO of Coveo. “Employees shouldn’t be frustrated looking for information to help them be proficient at their jobs. Many customers abandon e-commerce sites when their search results miss the mark. For these and more reasons, mature businesses, including Coveo customers, are using data and AI to focus their search applications on people, not content, to solve the relevance challenge. Relevance is defined by who is doing the search, and that is why search apps that only care about what content is searched leads to poor experiences and results.

Every business (100%) reported having difficulty managing business search. Organizations are often held back because they deploy multiple search applications. Six in 10 companies face challenges managing multiple search indexes for different applications (62%) and supporting or tuning multiple search systems (60%).

Most companies have deployed different search applications to address specific research challenges. By operating in silos, these research applications do not benefit from the collective intelligence acquired through the use of a unified research platform.

Organizational dysfunction also often exacerbates the challenge of managing multiple deployments. Eighty-four percent of organizations report a lack of alignment between different enterprise search deployments. This is proof that most organizations do not have a unique business search strategy.

Scrambling to correct research while failing to adopt research innovations

These challenges prevent organizations from taking advantage of modern innovations in enterprise search. Artificial intelligence is one example. While 82% have AI in their research stack, only 15% have implemented it. This despite the fact that the vast majority of companies (93%) believe that the future of research will be driven by AI.

Rather than establishing a unified enterprise search strategy, breaking down silos between applications, or embracing new technologies like AI, organizations often scramble to find fixes and improve their search results. The scarcity of talent creates even more challenges, with nearly all IT teams (95%) reporting having difficulty finding enterprise search talent.

Almost three out of four organizations rely on external partners to help them with their research. Seventy-five percent believe the ideal solution for enterprise research includes developing low-code or no-code applications, approaches that make it easier to deploy search applications for a non-technical audience.

Read the full report here.

Research methodology
Independent IT stakeholders were invited to participate in an online survey conducted by Dimensional research. A total of 616 qualified people responded to the survey. All were IT professionals responsible for business applications that included search functionality. All were aware of their company’s business research capabilities. “Enterprise search” has been defined to refer to software that ingests, understands, organizes, and queries digital content from multiple data sources, including those used for the web and e-commerce, customer service, and software. ‘access to knowledge. Responses were recorded between September 10 and 20, 2021.

About Coveo
We believe relevance is key to winning in the new digital experience economy. Coveo is an industry-leading AI-driven relevance platform. We aim to enable our customers to deliver the relevant experiences that we believe people expect in the new digital economy. Our native multi-tenant SaaS platform injects search, recommendation and personalization solutions into digital experiences. We provide solutions for e-commerce, service, website and workplace applications. Our solutions are designed to deliver tangible value to our customers by helping to drive revenue growth, reduce customer support costs, increase customer satisfaction and website engagement, and improve skills and employee satisfaction.

Our AI powers meaningful interactions for hundreds of the world’s most innovative brands and is supported by a vast network of global systems integrators and implementation partners.

Coveo is a trademark of Coveo Solutions, Inc.

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RP Highwire
Coveo
[email protected]
+1 418-263-1111

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