11.05.2022 | News How Enterprise Search facilitates decision making
If companies are able to make well-founded decisions quickly, they have a significant competitive advantage. Modern systems for enterprise search can provide them with significant support in this regard.
High-end solutions for enterprise search not only make it possible to integrate structured and unstructured data from a wide variety of internal and external sources and thus make it findable. They also bring advanced text analysis procedures, master artificial intelligence methods such as machine learning and deep learning, network information with the help of semantic models or graph databases, and automatically enrich data with metadata.
These technologies enable modern enterprise search software to efficiently search all existing sources in the shortest possible time and to tailor the search mechanisms to the individual requirements of people or departments. As a result, users can quickly access all existing information that is relevant to their decisions. This can pay off in numerous processes within the company. IntraFind cites five examples:
1. Market monitoring. Companies can thematically record external information sources such as websites, patent and standards databases or documents in specialist databases, compare them with existing internal domain knowledge and evaluate them. This allows them to monitor market developments, identify trends and react to them in a targeted manner.
2. Contract negotiations. When negotiating contracts, the legal department can effortlessly search through extensive sets of contracts and extract relevant clauses and key data points from contracts for review and risk analysis. As a result, they can make their assessments much faster and minimize the risk of missing key points.
3. Product improvement. Product managers have the ability to search and analyze service tickets. If they identify conspicuous error patterns, they have a valuable basis for optimization. They can identify whether the product needs to be improved or whether it might be sufficient to train their own employees better or revise their information material for users.
4. Expert selection. Based on personal profiles or publications, project managers or account managers quickly identify suitable employees for new projects or customers. They have the ability to put together the perfect teams based on solid facts.
5. Export control. Companies can identify at any time which export control regulations documents, data or products are subject to. The question of whether a document may be sent to a certain country or a product sold to a certain country can be clarified quickly and reliably.
"Modern enterprise search makes it easier for business leaders, department heads and management teams to make decisions based solely on relevant information," explains Franz Kögl, CEO at IntraFind. "They are not distracted or influenced by superfluous information and can decide and act faster. This increases business agility."