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Coveo Named Industry Leader In Forrester Wave Report: Cognitive Search, Q3 2021

Coveo Recognized As Industry Leader By The Forrester Wave™

The Forrester Wave™ Report Q3 2021 recognizes Coveo as an industry leader in cognitive search receiving the highest possible scores in the areas of Development, Operations, Performance, Enablement, and Market Awareness. The Q3 2021 report evaluated Coveo against twelve of the most significant cognitive search providers to see how they stack up against each other.

The Forrester Wave™ Cognitive Search Report

According to Forrester, cognitive search is "next-generation search engine software that employs AI technologies such as machine learning (ML) to ingest, understand, and organize information from multiple disparate data sources to enable humans to find content, answers, insights and/or explore a large corpus of information."  The Forrester Wave™: Cognitive Search for Q3 of 2021 was based on 26 criteria in the following categories:

  • Current Offerings
  • Strategy
  • Market Presence

Coveo named leader in the Forrester Wave™: Cognitive Search Report, Q3 2021

Figure 1: Forrester Wave™: Cognitive Search, Q3 2021

Where Coveo Stacks Up In The Industry

Coveo's 360-degree search delivers digital experiences for e-commerce, customer service, and workplace knowledge. According to the Forrester report, Coveo is a world-class enterprise-level cognitive search platform. With strengths in intent intelligence, tuning tools, data security, development tools, applications, and usage analytics. Coveo believes that cognitive search solutions are key in delivering the most valuable experiences to customers and employees alike.

Current Offerings

Coveo Amazon Web Services Elastic Lucidworks
Data 4.34 1.00 3.00 4.34
Intelligence 3.66 5.00 3.02 3.00
Development 5.00 2.00 4.00 4.00
End User 3.00 4.00 3.00 3.00
Scope 4.00 1.00 2.00 4.00
Operations 5.00 1.00 5.00 4.00
Architecture 4.00 3.00 4.00 3.00

Strategy

Coveo Amazon Web Services Elastic Lucidworks
Execution 3.00 5.00 5.00 5.00
Performance 5.00 3.00 5.00 3.00
Roadmap 3.00 5.00 5.00 3.00
Enablement 5.00 3.00 5.00 3.00
Partners 3.00 5.00 5.00 5.00
Commercial 3.00 5.00 5.00 1.00

Market Presence

Coveo Amazon Web Services Elastic Lucidworks
Customer Adoption 4.00 3.00 4.00 2.00
Evaluated Produce Revenue 1.00 3.00 3.00 1.00
Market Awareness 5.00 3.00 5.00 5.00

Source: Forrester Research, Inc. | The Forrester Wave™: Cognitive Search, Q3 2021

Key Cognitive Search Criteria

Cognitive search platforms absorb, organize, and understand data from enterprise data sources (i.e. collaboration platforms, file systems, and databases), integrate with single sign-on systems, and provide APIs or tools to build custom search interfaces. These platforms allow enterprises to create search capabilities for their employees, customers, and public access to information spanning multiple data sources and content types.

Forrester recommends that businesses and organizations should look for the following criteria in their cognitive search providers:

  • Precision of search results
  • Tuning tools to improve search result precision
  • Limitless scaling to maximize performance and optimize compute resources

Precision Of Search Results

Enterprise buyers must scrutinize search providers claiming "relevancy," "AI," and "tuning." Cognitive search platforms use many natural language understanding (NLU) techniques and user profiles to produce more precise answers to queries. It's important to compare the criteria for intelligence, namely ingestion, intent, and relevancy, to see how platforms differ in each category.

Tuning Tools To Improve Search Result Precision

Enterprises need tuning tools to boost or bury search results to increase precision in their cognitive search platforms. Enterprises can identify content gaps and create stronger associations (boost) using common knowledge to find more relevant answers to a query. Look for vendors that have a combination of automatic and manual tuning tools to increase precision.

Limitless Scaling To Maximize Performance And Optimize Compute Resources

Scalability is key for cognitive search engines to handle the volume of information and compute demands of using AI technology. Enterprise buyers should look for platforms that can efficiently scale ingestion, indexing, NLU, and usage of the platform independently of one another.

Conclusion

The Fishtank team is recognized as a certified Coveo System Integrator and Coveo MVP. As an official Coveo partner, Fishtank has the expertise to successfully deliver any Coveo implementation to get the most value for your company with Coveo's AI-powered business solutions.

Have any questions about enterprise search, or want to get started with an enterprise search solution for your business? You can reach us at [email protected]. We'd be happy to hear from you.

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