Talk about hidden costs! Poor video search might cost you a million dollars or more every year. Can’t believe it? Here’s how the numbers add up.
According to McKinsey and IDC, knowledge workers spend eight hours a week just searching for the information they need to do their jobs. Gartner estimates that, for Global 2000 companies, the top result for more than 50% of searches is not a text document. But even if we’re more conservative and estimate that only five percent of those eight hours will be dedicated to searching video content, those minutes still add up fast — totalling nearly 24 hours every year per employee.
Multiply that time wasted by the average salary of today’s knowledge workers, and you find that for every 2,200 employees, a better video search system could be worth a million dollars in productivity. So how much could your organization be saving?
The results are astounding. By investing in better video search, you could improve employee productivity by annually.
(Calculations shown in US Dollars)