Yext Named a Major Player in IDC MarketScape: General-Purpose Knowledge Discovery Software 2023 Vendor Assessment

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Yext recognized for enabling new types of customer search experiences

NEW YORK--(BUSINESS WIRE)-- Yext, Inc. (NYSE: YEXT), a digital experience platform that powers both owned and third-party experiences, announced today that it was named a Major Player in the IDC MarketScape: Worldwide General-Purpose Knowledge Discovery Software 2023 Vendor Assessment (doc #US49988523, October 2023).

With Yext Search, businesses are able to deliver powerful search results that drive engagement, decrease support costs, and deliver new insights. By powering use cases such as Site Search, Support Search, Commerce Search, Case Deflection, and Find-a-Doctor, Yext Search offers businesses an AI-powered experience to significantly increase customer engagement and satisfaction.

"Yext Search powers our entire website, helping our customers quickly find information on all specialties related to diseases, conditions, and treatments," said Matt Klawitter, Senior Digital Access Strategist at Beacon Health System. "Yext's vast enterprise search capabilities allow us to provide our patients and consumers with accurate, up-to-date information across first and third-party search experiences by integrating our data across Yext's platform."

Yext’s AI-powered search offering, Yext Search, uses natural language understanding (NLU) to build search experiences that exceed customer expectations for any use case across websites, apps, and anywhere that people are searching. Yext helps businesses power their own first and third-party digital experiences across search engines, maps, voice assistants, and more.

This year, Yext Search has continued to fine-tune and retrain its search algorithms to better deliver search results for various customer needs. In addition, Yext has also enhanced its suite of developer tools for configuring rich, interactive search experiences. Looking to the future, Yext continues to invest in semantic vector search capabilities and generative AI question-answering.

“Enterprise search is one of the most important technologies in the modern business toolkit. Yext has been a pioneer in developing the most advanced search algorithms to tackle industry challenges,” said Tzi-Kei Wong, Chief Product Officer, Yext. “We take great pride in this acknowledgment by the IDC MarketScape, which we believe underscores the far-reaching impact of our search capabilities across a diverse array of industries.”

Yext’s strengths highlighted in the IDC MarketScape: WW Knowledge Discovery General Purpose Software 2023 Vendor Assessment, include:

  • Customer Service Delivery: Yext’s customers found that the vendor provided strong support to ensure easy and accurate search implementations, and were excited about upcoming generative AI-based capabilities.
  • Strong analytics capabilities: Customers rated Yext highly on its built-in analytics capabilities, citing the ease of quickly creating custom reports that are highly tailored for search use cases.

To learn more about how Yext is delivering innovative AI-powered customer experiences that drive engagement, read the IDC MarketScape report excerpt here.

About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Yext
Yext (NYSE: YEXT) helps organizations build digital experiences across any channel on our open and composable platform. The Yext Digital Experience Platform collects and organizes content to deliver AI-led experiences for any organization’s customers, employees, or partners. For more than 15 years, thousands of companies worldwide have trusted Yext to create seamless customer experiences at scale across search engines, websites, mobile apps, and hundreds of other digital touchpoints. Learn more at yext.com.

Investor Relations
Nils Erdmann
ir@yext.com

Public Relations
Casey Sobota
pr@yext.com

Source: Yext, Inc.

Released October 18, 2023