We are humbled and honored to be named a leader in yet another research firm report.
After evaluating 12 vendors on 24 criteria, grouped by Current Offering, Strategy and Market Presence, Forrester analysts positioned Coveo as a leader in Cognitive Search. You can read more about the announcement in the press release.
“Coveo offers enterprise customers relevancy through a comprehensive portfolio of cognitive search products and industry solutions,” the report says. “Enterprises can take immediate advantage of Coveo’s cognitive search capabilities by using prebuilt applications, such as customer self-service, customer communities, in-product intelligence, and many more.”
The Forrester Wave™ report positioning is dependent on Forrester’s evaluation of the vendor’s market presence, strategy, and current offering in regards to cognitive search. To be considered for inclusion in the report, vendors must have a comprehensive, differentiated cognitive search solution, that is not technologically embedded in any particular applications.
You can read the full report for more details.
A Million Experiences for a Million Users through Cognitive Search
We also believe the report notes that artificial intelligence will play a key role in the evolution of the cognitive search industry.
According to The Forrester Wave™ Report, “As legacy enterprise search technology becomes outdated and less effective, use of AI technologies such as natural language understanding will dictate which providers will lead the pack. Vendors that can provide ingestion intelligence and intent intelligence position themselves to deliver the most relevant search results to their customers.”
These market changes will have a tremendous impact across every industry. Every business is dealing with thousands, or millions of consumers, through digital experiences. Each of their customers decides what’s relevant to them according to their particular context and their intent, based on what they’re trying to achieve. Meeting each individual’s needs in every experience has never been possible.
Artificial intelligence now enables you to be relevant every single time customers, partners or employees interact with you, in every channel and on every platform. Instead of rule-based software and batch segmentation, AI makes it possible to enable micro-events at micro-moments in a way that was unimaginable before.
Using AI, now your enterprise can provide relevance at scale, offering personalized content to every single person and customer, every time and every place they interact with you. This is a quantum leap opportunity in business, because it enables them to deliver a million experiences to a million people.
To meet people’s unique expectations, embracing AI is an imperative. Beyond digital transformation alone, enabling a relevance transformation is the winning strategy. It is the only way that you can deliver relevant interactions to every individual who does business with you, or else they will seek better experiences with your competitors who use AI.
It may not sound possible, but it’s happening now. Our latest press release highlights the incredible results and innovation happening with the Coveo platform by some of the world’s largest and most innovative companies. I’m proud to say that our customers are leading the way in creating world-class digital experiences in commerce, service and the workplace.
How Relevant is Your Organization?
This is one of the most critical questions your organization can answer in our AI-Takes-All economy. In my view, leaders today face a critical choice: harness the power of AI make their digital experiences as personal and relevant as possible or compete against companies that do.
At Coveo, we have made a science of researching and understanding relevance, and how data science can augment people by empowering them through the cognition process—the process of acquiring the information they need in order to act on their intent, based on their context.
We named this the Coveo Relevance Maturity Model, a cognitive model which describes the three fundamental constituents of relevance in any digital experience and interaction.
- First, being Responsive: to provide rich and best-available answers, the information people want based on their search or questions.
- Second, being Prescriptive: by making suggestions, based on what people probably need given their context.
- And thirdly, being Optimized: by making recommendations, harnessing the power of AI and machine learning to detect intent and thereby recommending what they likely need next, anticipating what else might be useful for them.
You have a gold mine of information coming from everywhere across your organization, your digital venues and even your products and iOT data, to detect people’s intents and predict what they need next. Anticipating those needs is the highest form of relevance maturity, and it can radically change your business. Prepare for this new era of information and experience by understanding the relevance of your organization. I recommend downloading our CRMM whitepaper to help you create your action plan for relevance.