The future of search-powered technology is looking very bright! With the growth of data, businesses are increasingly turning to search engines and other forms of search-powered technology to help them harness the power of data. By doing so, they are able to improve their digital transformation efforts and achieve better results. In this article, we will discuss the importance of search-powered technology and how it can help your business succeed in today’s digital world.
A new study by Elastic (NYSE: ESTC) of more than 800 data leaders in eight countries, titled Search-Powered Technologies: A Mission-Critical Enabler For The Digital Future Of Business, illustrates how search-powered technologies—the tools that enable the search of data across multiple sources—fuel business-critical initiatives, including cloud migration and utilization, cybersecurity, and customer experience.
The study found that search-powered technology is mission-critical for businesses undergoing digital transformation, with nearly three-quarters of respondents (74%) saying it is essential to their success. In addition, the study found that search-powered technology is playing an increasingly important role in cybersecurity, with nearly two-thirds of respondents (64%) saying it is essential to their organization’s security strategy. The findings of the study underscore the importance of search-powered technology in the digital age.
Additionally, the study revealed that data leaders are focused on integrating cybersecurity, observability, and enterprise search point solutions into a single platform. They believe that search-powered solutions will offer the functionality they need to support their digital transformation initiatives. The features they find most important include high storage capacity, a cloud-based platform, and scalability. This is consistent with their future vision for the role of data in their organizations. They see data as playing a critical role in powering their business operations and enabling them to make better decisions. As such, they are investing in solutions that will help them maximize the value of their data assets.
Leaders in the data industry expect a shift towards integrated platforms over isolated point solutions over the next three years. They believe that integrated platforms will include a variety of functionality from different point solutions.
According to the study, 83% of respondents agree that using a single integrated search platform helps reduce business costs. 81% of respondents also say that it enables them to give more time back to their teams to do meaningful work. 76% of respondents report that an integrated platform should include security, data visualization, and analytics solutions. 72% of respondents expect an integrated platform to include enterprise search functionality. And finally, 67% of respondents expect an integrated platform to include an observability solution.
The study also reveals that data leaders will need more from search-powered technologies as their organizations continue their digital transformation journeys. To remain competitive, they will need comprehensive, flexible, and integrated cloud-based search solutions that can handle more data.
Most data leaders want to improve their ability to find information from multiple clouds and data storage environments. This will help the IT operations, security, and development teams work better.
The Elastic study found that the majority of respondents are investing in search-powered technologies to improve the speed and productivity of their organizations. The reasons cited for this include the ability of these technologies to deliver essential insights that hasten decisions and create a better user experience for customers and employees. In addition, the study found that alignment would improve in many organizations if it were easier to find and share data. However, cybersecurity is also a key priority for many businesses, with data security issues or other risk exposures cited as the most common result of challenges with finding, sharing, and visualizing data. Ultimately, the findings of this study underscore the importance of investing in search-powered technologies to stay competitive in today’s business landscape.
This study underscores the importance of staying ahead of the curve by investing in cutting-edge search technologies. Sign up for our free newsletter today to receive MyChesCo updates.
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