PRESS RELEASE: Gartner, a research and advisory firm, released its much anticipated Magic Quadrant for Insight Engines earlier this week. The report evaluates 13 providers of Insight Engines, each assessed based upon both their completeness of vision and ability to execute. Coveo, a provider of AI-powered search and recommendations solutions, has been positioned as the highest for execution and furthest for innovation leader in the leaders quadrant.
The Magic Quadrant for Insight Engines evaluates providers on their completeness of vision and ability to execute. Coveo believes its success, and Magic Quadrant positioning, is made possible by its work at the nexus of three important technologies: Intelligent Search, Predictive Analytics and Cognitive Computing. To deliver on the promise of Insight Engines, Coveo combines machine learning and usage analytics to understand a user’s intent and context, what will help that user accomplish their goal, regardless of how a question is asked and, increasingly more common, issuing artificial intelligence based recommendations even when no question is asked at all.
Coveo’s AI-powered search enables organizations to look across their entire ecosystem of data and knowledge, irrespective of data source, to generate important insights found in the data. These insights power a more mature level of relevance by enabling organizations to pre-emptively know what their user is most likely to need and proactively recommending it, even in ways that were not consciously invoked or initially sought after.
With increasing global demand for and adoption of its Search & Relevance Technology, Coveo expanded operations in Europe by opening a new headquarters office in Amsterdam in 2014. The company is thrilled to see a dramatic rise in interest in relevance and the impact insights have made for its customers and partners worldwide. Henry de Jong, Managing Director, EMEA, shares, “Customers and partners in EMEA are realizing just how important relevance is in the digital transformation era. In effort to deliver a better customer experience and enhance the customer journey, relevance and personalization — supported by machine learning capabilities and sophisticated analytics — are key to competing more effectively. It is exciting to see that the interest for our solution is growing.”
With relevance being at the forefront of Coveo’s efforts, it has introduced the proprietary Coveo Relevance Maturity Model™. The model highlights each phase of relevance maturity and provides actionable steps for companies to increase their relevance into external web and self-service experiences, intranets or intelligent workplaces. In the model, Coveo takes relevance and insights one step further with predictive AI-powered search, which enables companies to maximize specific business outcomes such as shopping cart conversions, support case deflections, or workplace personalization, enabling true one-to-one user engagement and upskilling.
Coveo Chairman and CEO, Louis Tetu, comments, “Coveo’s mission has been, and continues to be, bringing relevance to every interaction an organization has with its customers, partners and employees. Relevance is at the core of what we do.” He continues, “We are incredibly honored to be positioned highest and furthest within the leaders quadrant in Gartner’s Magic Quadrant for Insight Engines. We believe their recognition not only confirms the value of our mission to improve employee engagement, increase customer satisfaction and impact business’ bottom line through relevance — it proves that companies are becoming more aware of the shift in consumer expectations and the value technology brings in delivering personal, contextual, natural, and in the end relevant experiences. This is the new intelligence era in the enterprise software industry, and Coveo is excited to be at the forefront of that growth.”
Access a complimentary copy of the full report here.
About the Gartner Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Gartner, Magic Quadrant for Insight Engines, 30 March 2017