Making sense of your digital content with insight engines
Every organization today has stepped towards digital transformation leveraging advanced technologies and platforms. They are carrying out different projects and performing R&D to better serve their customers and drive digital transformation efforts. With each and every move towards digital, companies is also generating a wealth of information such as emails, social media, log data, etc. that are often collected in raw and unstructured form. If processed correctly and precisely, companies can better foresee and plan for market change. Thinking and embracing insight engines could be an obvious data analytics strategy for businesses.
As explained by Gartner, an insight engine applies relevancy methods to define, discover, organize and analyze data. Also referred to as cognitive search or enterprise knowledge discovery and management, insight engines make key enterprise insights accessible to users when they need it. Insight engine coalesces machine learning, analytics and AI-driven search capabilities to provide information to users, with more intuitive, personalized, and pertinent digital experiences.
With an insight engine, organizations could deliver enhanced customer experience by ensuring ease of use, immediate intelligence, and vast scope of searches. They can produce insights automatically from existing databases and make decisions based on information excerpted from the data. Unlike traditional search technologies, insight engines use intelligent solutions to find information in a way that is resource-efficient and making it available to users in the right context.
The integration of insight engines into enterprise searches will significantly improve both employees’ and users’ searches of germane information. According to IDC, employees spend around 9.6 hours of their work searching for meaningful information from a wealth of data and information. As insight engines use intelligent technologies, it can deliver search queries in natural language.
How Does an Insight Engine Work?
An insight engine leverages the fusion of technologies and searches databases to deliver information when needed instead of searching on-demand. It extracts companies’ data from various data sources and utilizes data integration tools to process the data. With the help of natural language processing, insight engines understand patterns in unstructured data that can then assess using machine learning algorithms to identify trends, make predictions and suggest recommendations. While planning to embrace insight engines, businesses must consider security, scalability, and connectivity to all data sources.
Influence of Insight Engines on Digital Transformation
An intelligent enterprise search capability provides companies the ability to drive businesses towards fast-growing digital transformation. This search capability could aid organizations to capitalize on the full potential of insights, engage with experts to solve problems and explore new ways, streamline compliance and deliver enhanced, unmatched customer service. Insight engines can be incorporated into diverse business areas, units and departments. It can provide a support network to navigate challenges, prepare and present data precisely tailored to each user’s requirement and meet the demand of different departments, employees, and applications.
Insight engines contain a variety of features to understand business data and derive impactful information. Since engines are able to analyze, construe and present data appropriately, they can be utilized for the automated classification of documents driven by artificial intelligence.
With its growing capabilities and interest from businesses, the global market for insight engines is predicted to reach US$4.14 billion by 2026, growing from US$757.20 million in 2018 at a CAGR of 23.52%.