Company’s First Results That Matter Customer Value Study Reveals Key Business Value Drivers
- Driving profitability while reducing costs 68% through tool consolidation
- Simplifying solution management in the cloud and reducing data center overhead costs by 71%
- Improving customer and employee satisfaction by 69%
- Increasing application and service resilience through a 66% improvement in mean time to detect, investigate, and respond (MTTx) to incidents
- Reducing the overall risk of cyber threats by 60%
Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch, today released a commissioned study conducted by Socratic Technologies, an independent research firm, titled Results that Matter Annual Value Study. The study can be downloaded here.
Based on a survey of more than 1,400 Elastic customers across 62 countries polled between March 10th and April 4th, 20221, the study illustrates the business results Elastic is helping its customers achieve with the Elastic Search Platform and its Enterprise Search, Observability, and Security solutions.
Driving profitability while reducing costs 68% through tool consolidation
Key benefits of the Elastic Search Platform include the ability for organizations to grow profitability with Elastic. Customers also reported the following benefits:
- 68% improvement in employee productivity
- 62% improvement in topline sales revenue
- 65% increase in collaboration on data and insights
“Elastic provided us with tremendous speed and flexibility in developing an enterprise data discovery platform,” said Kathleen Brandt, CIO, CSX. “We were able to quickly bring multiple streams of data into one place, so we could see which data in what combinations would have the greatest value for our customers and employees, enabling them to make better-informed decisions.”
Simplifying solution management in the cloud and reducing data center overhead costs by 71%
Key benefits of Elastic Cloud include simplified solution management and the ability to accelerate results with Elastic across public, multi-cloud, and hybrid environments. Customers also reported the following benefits:
- 72% reduction in risk of downtime
- 71% acceleration in time to market of new solutions
- 71% reduction in risk of critical vulnerabilities
“At Zurich Insurance, we want to exceed customer expectations and support their increasingly digital lifestyles. That is why we moved to Elastic Cloud on Kubernetes,” said Sandra Hauser, Head of Transformation and Technology, Zurich Insurance. “With Elastic, we can stay focused on customer needs, drive innovation, and simplify our IT environment.”
Improving customer and employee satisfaction by 69%
Key benefits of Enterprise Search include the ability for customers to optimize search experiences and improve customer and employee satisfaction through increased speed of collaboration and employee onboarding. Customers also reported the following benefits:
- 68% acceleration in time to manage a search experience
- 68% increase in web conversion rates
- 65% decrease in eCommerce cart abandonment rate
“We want to make it as easy as possible for our clients to find, combine, and publish their content to deliver exceptional experiences to their customers and respond to fast-changing business conditions,” said Alex Stewart-James, Director, Technical Product Management, Sitecore. “Take a global consumer goods business with hundreds of online properties and brands, thousands of products, and operating in dozens of countries. By incorporating Elastic into Sitecore Content Hub, they now have a 360-degree view of all their content, can better plan campaigns, and focus on quickly delivering optimal experiences for their customers.”
Increasing application and service resilience through a 66% improvement in mean time to detect, investigate, and respond (MTTx) to incidents
Key benefits of Elastic Observability include deeper visibility into applications and infrastructure. Customers also reported the following benefits:
- 67% improvement in developer & IT staff productivity
- 62% decrease in lost revenue due to unplanned downtime
- 61% decrease in application and service incidents overall
“Elastic enables us to manage incidents and errors across the entire lifecycle, from logging and visualization, to replay and resolution,” said Salman Ahmed, Senior Solutions Architect, Brolly. “In the past, it might have taken us a couple of days to fix an error. With Elastic, it is so much faster than before. It now typically takes only 30 minutes to find the issue, resolve it, and then track the fix.”
Reducing the overall risk of cyber threats by 60%
Key benefits of Elastic Security include the ability for organizations to accelerate decision-making in response to threats and reduce overall risk through decreases in phishing scams, ransomware, and malware attacks. Customers also reported the following benefits:
- 68% acceleration in decision making
- 66% decrease in employee productivity disruption during security incidents
- 64% reduction in phishing scams
“Let’s say there is a major security breach that impacts a number of organizations, and it’s reported in the press,” said Kamyar Kojouri, Director of Security Operations, ECI. “With Elastic we can quickly search all the relevant data of our SIEM clients and reassure them that they are not affected or keep them protected if they are under attack.”
Find more information and view the full findings from the Results that Matter Annual Value Study here.
Supporting Quote:
- “As organizations today face economic and inflationary pressures, ensuring they are getting maximum value from their IT investments is greater than ever before,” said Rick Laner, Chief Customer Officer, Elastic. “Elastic is committed to helping customers extract the most value from their data and achieve rapid time to value through a single technology platform that accelerates the applications which power their business, protects digital ecosystems from cyber threats, and keeps business-critical applications and infrastructure performing cost-effectively.”
1Methodology
Elastic partnered with Socratic Technologies to conduct an online survey between March 25th and April 4th, 2022. 1,430 surveys were completed across 62 countries globally from Elastic customer lists and an independent Elastic customer panel developed by Socratic Technologies. The median survey response duration was 14.9 minutes.
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