The Business Of Enterprise Search
The average time spent by employees searching for information at work is about 9.5 hours a week — one full working day in a week, of which, 3.5 hours are wasted not being able to find relevant information, according to a global IDC study.
In India, it can even take 12-14 hours since there is more unstructured data as the IT infrastructure is not as mature as it is in IT - mature countries.
Moreover, information overload is only expected to increase. It is expected to grow at a CAGR of 57% by 2010 to reach 988 exabytes, according to an EMC and IDC study. All words ever spoken by human beings would be around 5 exabytes. Imagine, then, the time and effort that is spent ferreting for specific documents within this voluminous data.
This is bringing a new business model into play - that of Enterprise Content Search. The enterprise search market is expected to grow at double-digit rates (25% currently), with Gartner predicting that the global market to grow to approximately $1.5 billion in total software revenue by 2012. [Via]
Filed under: Business, Statistics