Elastic Named a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines

Rhea-AI Summary

Elastic (NYSE: ESTC) has been recognized as a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines. This first-time entry highlights its Enterprise Search solution, which simplifies creating search experiences for customer and employee applications. Gartner emphasizes the growing need for insight engine technology as businesses generate more content. Elastic's solution offers simple configurations, flexible deployment options, and consumption-based pricing, which disrupts traditional pricing models. Customers have rated Elastic’s insight engines 4.5 out of 5 based on 34 reviews.

Positive

• Recognition as a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines.
• Enterprise Search solution simplifies search experiences for various applications.
• Flexible deployment options across major cloud platforms and self-managed options.
• Consumption-based pricing offers greater cost control and budget planning.
• High customer ratings on Gartner Peer Insights, averaging 4.5 out of 5.

Negative

• None.

Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch and the Elastic Stack, today announced it is a first-time entrant and has been recognized as a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines¹. Download the complimentary report here.

Gartner reports that “As businesses evolve to become digital and to generate more structured and unstructured content, the need for insight engine technology to surface relevant facts, content and knowledge to stakeholders is critical. From a value for money standpoint, insight engines offer flexibility and broad applicability when it comes to getting and pushing knowledge to the broadest set of customers and employees — in contrast to, for example, conversational technologies and intelligent document processing solutions.¹”

In a search-first world immersed in data, Elastic Enterprise Search dramatically simplifies creating enterprise-grade search experiences for both customer- and employee-facing search applications. It is a powerful, modern search solution for any website, app, or workplace in a single unified stack that enables customers to scale their search requirements as they grow. The solution is also engineered for easy implementation to deliver shorter time to value for search projects.

Elastic believes that its Enterprise Search solution changes the status quo for search solutions, providing a proven free and open alternative to legacy search products with five differentiating factors:

• Simple, pretuned search configurations that reduce complexity and time to value, helping busy users find the answers they need quickly and at scale.
• Flexible deployment options with support for all major cloud platforms as well as self-managed options, and the ability to get started simply and immediately with free trials on Elastic Cloud or with Elastic’s free download.
• Flexible, consumption-based pricing that disrupts traditional complex pricing models to allow greater cost control, along with pricing calculators and tools that simplify budget planning, specifically for price comparisons.
• Unparalleled scalability and flexibility with Elasticsearch and Elastic Cloud, enabling organizations to effortlessly adapt to changing demand or market conditions.
• An extensible and platform-agnostic solution with the ability to connect seamlessly to content wherever it sits.

Elastic’s reviews on Gartner Peer Insights indicate that Elastic’s insight engines customers rate the company’s products highly, with an overall rating of 4.5 out of 5 in the Insight Engines market based on 34 reviews, as on April 2, 2021².

For more information, read the 2021 Gartner Magic Quadrant for Insight Engines and the blog “Elastic recognized as a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines.”

Supporting Quotes:

• "GEP Worldwide's market-leading software uses the power and flexibility of Elastic to drive value in every part of the procurement and supply operation. In an industry dominated by unstructured, dynamically-changing data, our access and control of that data through the power of Elastic is delivering huge returns,” said Huzaifa Matawala, senior director, GEP Worldwide. “To top it off, Elastic’s consumption-based pricing model has made it much easier to forecast and continually manage our costs to avoid overpaying for services that we don’t need or use.”
• “Organizations today require a seamless search experience that enables users to easily find the information and content they need in a fast and intuitive interface,” said Matt Riley, VP of product management, Enterprise Search, Elastic. “This is the first year that Elastic has been recognized in the Magic Quadrant for Insight Engines, and we believe our recognition by Gartner as a Challenger validates that our rapid pace of innovation and ability to power personalized search experiences at scale meets the needs of modern, distributed businesses.”

^[1] Gartner, “Magic Quadrant for Insight Engines,” Stephen Emmott, Anthony Mullen, March 2021
^[2] See complete rating and reviews here.

Gartner Disclaimer:

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 Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates.

About Elastic:

Elastic is a search company built on a free and open heritage. Anyone can use Elastic products and solutions to get started quickly and frictionlessly. Elastic offers three solutions for enterprise search, observability, and security, built on one technology stack that can be deployed anywhere. From finding documents to monitoring infrastructure to hunting for threats, Elastic makes data usable in real time and at scale. Thousands of organizations worldwide, including Cisco, eBay, Goldman Sachs, Microsoft, The Mayo Clinic, NASA, The New York Times, Wikipedia, and Verizon, use Elastic to power mission-critical systems. Founded in 2012, Elastic is a distributed company with Elasticians around the globe and is publicly traded on the NYSE under the symbol ESTC. Learn more at elastic.co.

Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210406005989/en/

FAQ

What did Elastic announce regarding the 2021 Gartner Magic Quadrant?

Elastic has been recognized as a Challenger in the 2021 Gartner Magic Quadrant for Insight Engines.

What is Elastic's Enterprise Search solution designed to do?

Elastic's Enterprise Search solution simplifies creating search experiences for customer and employee applications.

How do customers rate Elastic's insight engines?

Customers rate Elastic's insight engines 4.5 out of 5 based on 34 reviews as of April 2021.

What are the benefits of Elastic's pricing model?

Elastic offers a consumption-based pricing model that allows for greater cost control and simplifies budget planning.

What differentiates Elastic's search solutions from legacy products?

Elastic provides simple configurations, flexible deployment options, and an extensible solution that connects seamlessly to content.