Insight Engines Statistics


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Insight Engines Statistics 2023: Facts about Insight Engines outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Insight Engines, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Insight Engines Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 52 Insight Engines Statistics on this page 🙂

Insight Engines “Latest” Statistics

  • An example of a common application would be to determine the effects of, say, 10% more shower gels being sold in Thai marketplaces.[1]
  • In overachieving businesses at underperforming organizations, 61% of questioned executives felt that employees in their insights units were adept at delivering their thoughts via compelling narratives. Just 37% of those polled were in favor.[1]
  • However, i2020 discovered that respondents from high-performing companies were far more likely than respondents from low-performing companies to feel that their insights departments were business-focused (75% vs 50%).[1]
  • Significantly more respondents from over-performers than from underperformers thought that their insights departments were proficient at whole-brain thinking, 71% vs 42%, demonstrating that high-performing firms are especially effective at blending the two kinds of approaches.[1]
  • The lifebuoy soap brand team focused on statistics revealing that over 40% of fatalities occur among newborns less than a month old and that many may be avoided with handwashing during one discussion on rising mortality among children under five.[1]
  • In Indian communities, moms said that from 2013 to 2014, the prevalence of diarrhea among family members decreased from 36% to 5%.[1]
  • In fact, i2020 discovered that 79% of insights departments at over-performing businesses engaged in strategic decision-making at all organizational levels, compared to only 47% at failing organizations.[1]
  • Present in ten markets since its debut in 2013, all things hair has had more than 125 million views, and research indicates that it is three times more likely to lead to sales than traditional advertising.[1]
  • According to the i2020 study, 40% of over-performing organizations embrace a culture of experimentation, compared to 13% of underperformers, and B2B enterprises are more adventurous than B2C companies.[1]
  • Because of this, there are a lot more over-performing businesses than unsuccessful ones. Insights leaders are included in 61% of planning cycles, compared to 46%, at all crucial phases.[1]
  • In 2015, the company’s 400+ brands, including dove, knorr, and axe, brought in 60 billion in revenue, driving underlying sales growth of 41% for the year.[1]
  • According to the i2020 study, insights leaders who work for high-performing firms report to these senior executives 29% more frequently than their counterparts who work for low.[1]
  • According to the i2020 survey, respondents from over-performing businesses reported working closely with other departments and customers on average 69% of the time, compared to only 52% of respondents from failing organizations.[1]
  • Although the margin between over-performers and underperformers is still not very large (32% vs 28% in this case).[1]
  • It is worth $418 billion, or about 2% of the U.S. GDP, and it has a similar climate impact as the whole U.S. aviation sector, including passenger, commercial, and military aircraft.[2]
  • According to ReFED’s research, a yearly investment of $14 billion, including $3 billion from catalytic sources, will cut food waste across the food chain by over 50% annually while producing a net financial gain of $73 billion.[2]
  • According to Gartner, 50% of analytical inquiries will either be created automatically or by search, natural language processing, or voice by the year 2020.[3]
  • In a recent poll by Gartner, 44% of consumers reported they had made a poor choice merely because they were not aware of the data they already had.[4]
  • By 2023, 65% of the world’s population will have their personal data protected by contemporary privacy laws.[4]
  • According to our own data, fragmented systems and poor labeling cause 75% of papers to remain inactive after being created, often leading to replications later down the line.[4]
  • In reality, 50% of company information is secret, and those obscure, unrecognized locations are often the most dangerous.[4]
  • A staggering 90% of the data and information that workers look for is blocked by rigid access rules.[4]
  • Because of this, a contemporary out-of-the-box insight engine is just as adaptable as a classic bespoke insight engine while also being quicker, 100% more user-focused, and simpler to use daily, even for large.[5]
  • Recent Kantar Vermeer research revealed that high-performing businesses compared to only 47% of underperforming organizations, insights teams engaged in strategic decision-making at all levels of the company in 79% of cases.[6]
  • 87% of corporate executives, according to Gartner, agree that data silos are a contributing factor in their poor business intelligence and analytics maturity.[6]
  • Self-service technologies have made it feasible to manage enormous amounts of client data in 90% less time than manual coding, as has previously been demonstrated.[6]
  • Internal teams now have access to technologies that allow for self-service, which they utilize to drastically cut their time to insight by up to 90%.[6]
  • During the projection period, the insight engines market is anticipated to expand from USD640.2 million in 2017 to 2,197.4 million, growing at a compound annual growth rate CAGR of 24.5%.[7]
  • Accenture claims that a large international bank increased clients’ savings balances by EUR60 million in only 18 months by using tailored insights supplied to them.[8]
  • Accenture estimates that the quantity of data accessible now is 44 zettabytes and expanding quickly.[8]
  • According to KDNuggets, a provider of information technology and services, businesses plan to devote around 15% of their IT budgets to cloud-based cognitive search analytics and other services.[8]
  • According to UNCTAD.org, between August 2019 and August 2020, China’s online retail sales share increased from 19.4% to 24.6%.[8]
  • In only one week, starting on March 20, 2018, the number of shopping app downloads in Thailand increased by 60%.[8]
  • Over the next five years, the market for insight engines is expected to develop at a CAGR of 25.57%.[8]
  • In 2020, the trend toward e-commerce adoption is projected to be continued throughout the recovery, which is anticipated to help the insight engine market create demand from participants in the retail sector.[8]
  • As seen here, the top three organic results for nonbranded search generate more than half of all click-throughs.[9]
  • Nearly 65% of google searches between January and December 2020 concluded without a visit to another website, up from 50% in June 2020.[9]
  • As of December 2021, Google still has an 86.19% market share for desktop searches, maintaining its dominance in the industry.[9]
  • However, according to the most current statistics, searches on mobile devices account for 54.86% of all searches, compared to 42.65 and 24.9% on desktops.[9]
  • With organic traffic accounting for 68% of all trackable website traffic in 2020, the mix of sponsored and organic search is still quite effective.[9]
  • In actuality, 30% of the sites that appear on the first page of search results for desktop do not show up in the top 10 results for mobile searches.[9]
  • On mobile, though, things are a little different since Google presently has a market share of 94.88%.[9]
  • Mobile shopping currently accounts for 60% of the industry; additional statistics are available in the 300-page study on Datareportal.[9]
  • The most recent data from the Global Web Index via Datareportal shows that this is now a prevalent activity, with an average of 214.1% utilizing voice commands or voice searches. Unfortunately, the study does not isolate voice search solely.[9]
  • This does not imply that you should disregard other search engines, particularly because Bing accounted for 7.2% of searches during the same month.[9]
  • This demonstrates that desktop search volume is expected to continue to fall as more individuals stay connected 24 hours a day owing to the high global mobile phone penetration rate.[9]
  • In fact, according to our estimates, the United States would achieve more than a 50% decrease in food waste by 2030 in line with our national and international targets if all of the insights engine solutions were implemented.[10]
  • ReFED was created in 2016 after the publication of our roadmap to reduce U.S. food waste by 20%, which served as a guide for companies, investors, regulators, and other stakeholders to take action to solve the problem of food waste.[10]
  • Seven major action areas are identified in reducing U.S. food waste by 50% link, which demonstrates where the food system should concentrate its efforts in order to decrease food waste.[10]
  • With these new tools, we can speed up the achievement of our shared objective of a 50% decrease.[10]
  • The paper also evaluates the current and anticipated consequences of the COVID-19 pandemic on the entire market, providing more accurate and dependable estimates of the state of the market.[11]
  • The market for forecast insight engines was valued at USD689.68 million in 2020 and is anticipated to reach USD4,567.62 million by 2028, rising at a CAGR of 25.63% from 2021 to 2028.[11]

Also Read

How Useful is Insight Engines

One of the key benefits of insight engines is their ability to quickly search through and analyze large datasets in a fraction of the time it would take a human analyst. This rapid processing speed can provide companies with real-time insights that can be crucial in a fast-paced business environment. By leveraging natural language processing and machine learning algorithms, these engines can sift through unstructured data to uncover patterns and trends that might otherwise go unnoticed.

Furthermore, insight engines can help organizations discover hidden relationships between data points, allowing them to make more informed decisions and optimize their operations. By providing easy access to relevant information, these engines can streamline the decision-making process and empower teams to act swiftly on new opportunities or threats.

Additionally, insight engines have the potential to enhance collaboration within organizations by breaking down silos and enabling teams to share and access valuable data insights. By democratizing access to information, these engines can foster innovation and creativity among employees, leading to better outcomes for the company as a whole.

However, while insight engines offer numerous benefits, they are not without their limitations. One of the challenges companies may face is ensuring the accuracy and reliability of the insights generated by these engines. As with any technology, the quality of the output is only as good as the input data and the algorithms used to analyze it. Companies must invest time and resources into training and fine-tuning these engines to ensure they provide meaningful and actionable insights.

Another potential drawback of insight engines is the risk of information overload. With the amount of data being generated every day, companies run the risk of being overwhelmed by the sheer volume of insights being generated by these engines. It is essential for organizations to develop robust processes for filtering and prioritizing insights to focus on the most critical information that will drive value for the business.

Ultimately, the usefulness of insight engines will depend on how well companies can integrate them into their existing operations and leverage the insights they provide. While these engines have great potential to revolutionize the way businesses make decisions, they are not a silver bullet solution. Companies must be willing to invest in the necessary resources and expertise to fully realize the benefits of these technologies.

In conclusion, insight engines hold great promise for organizations looking to unlock the value of their data and drive better decision-making. By harnessing the power of advanced analytics and machine learning, these engines can provide companies with actionable insights that can help them stay ahead of the competition. However, companies must also be aware of the challenges and limitations of these technologies and be prepared to overcome them to fully capitalize on the benefits they offer.

Reference

  1. hbr – https://hbr.org/2016/09/building-an-insights-engine
  2. refed – https://refed.org/
  3. aimultiple – https://research.aimultiple.com/insight-engine/
  4. aiimi – https://www.aiimi.com/insights/insight-engines-speed-up-your-search-scale-up-your-insight-and-secure-your-information-how-to-choose-the-best-from-the-rest
  5. datanami – https://www.datanami.com/2018/09/06/what-is-an-insight-engine-and-other-questions/
  6. kapiche – https://www.kapiche.com/blog/a-step-by-step-guide-to-building-a-respected-customer-insights-engine/
  7. marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/insight-engines-market-231500741.html
  8. mordorintelligence – https://www.mordorintelligence.com/industry-reports/insight-engines-market
  9. smartinsights – https://www.smartinsights.com/search-engine-marketing/search-engine-statistics/
  10. usda – https://www.usda.gov/media/blog/2021/02/02/refed-launches-insights-engine-implications-food-waste-interview-dana-gunders
  11. verifiedmarketresearch – https://www.verifiedmarketresearch.com/product/insight-engines-market/
  12. ibm – https://www.ibm.com/blogs/watson/2021/03/ibm-gartner-leader-2021-magic-quadrant-insight-engines/

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