The most popular and comprehensive Open Source ECM platform
Despite the advances i nsearch technology, companies still struggle to quickly locate and retrieve information that they’re searching for. A survey from MindMetre Research and Smartlogic estimates that 52 percent of senior managers and directors at US and major European of organizations aren’t able to quickly locate the documents and information they’re looking for because the information has been poorly or incorrectly classified.
When these managers were queried about what they perceived as being an acceptable amount of time to search for data, 65 percent indicated that they shouldn’t need to search any longer than two minutes. 90 percent said that searches longer than four minutes were totally unacceptable. 27 percent said that four-minute-plus searches were routine for their organizations.
Jeremy Bentley, Chief Executive at Smartlogic, says: “This research shows that much of the work generated by most enterprises remains unlabeled and therefore invisible. The result is that a great deal of employee time is lost fruitlessly searching for information assets, many of which are never found, and the costs are huge. This and other studies have shown that this wasted labour can add up millions of dollars, pounds and euros in lost wages – equivalent to maybe 10% of the total salary bill for a large organisation. And in the end, most organisations are still failing to leverage their most valuable information assets.
The Smartlogic research then turned towards specific industry segments to compare the efficiencies of search by industry. The industries were graded against the following four criteria:
- 49 percent – Extraction Industries
- 41 percent – Law and Order / Emergency Services
- 41 percent – Insurance and Financial Services
- 40 percent – Education
- 40 percent – Government
- 39 percent – Healthcare
- 37 percent – Manufacturing
- 37 percent – Inforamtion and Research
- 34 percent – Banking
- 33 percent – Chemicals and Pharmaceuticals
- 32 percent – Aerospace
- 32 percent – Hi-tech and IT