Global Study Reveals Search-Powered Technologies are Driving the Future of Digital Business

Rhea-AI Summary

Elastic (NYSE: ESTC) commissioned a study revealing that 8 out of 10 data leaders see search-powered technology as essential for successful digital transformation. Key findings include that 84% believe these technologies boost digital initiatives, and 83% agree that an integrated search platform can reduce costs. Additionally, 85% want to enhance information retrieval across multiple data environments. As organizations prioritize comprehensive, cloud-based solutions, the demand for integrated platforms that streamline operations and improve cybersecurity continues to rise.

Positive

• 84% of data leaders report that search-powered technologies boost digital transformation efforts.
• 83% agree that integrated search platforms can reduce business costs.
• 85% want improved ability to find information across multiple clouds.

Negative

• None.

New Study Commissioned by Elastic Shows 8 out of 10 Data Leaders Agree that Investing in Search-Powered Technology Drives Results that Matter for their Organizations

• 84% of data leaders report that the success of their digital transformation initiatives relies on search-powered technologies
• 83% of data leaders agree that a single, integrated search platform would help reduce costs for their business
• 85% of data leaders say they want to improve the ability to find information across multiple clouds and data storage environments

 

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Elastic (NYSE: ESTC), the company behind Elasticsearch, today announced a new global study that shows search-powered technology is critical to the success of digital transformation and harnessing the power of data.

The study, titled Search-Powered Technologies: A Mission-Critical Enabler For The Digital Future Of Business, is based on a survey of more than 800 data leaders in eight countries. The research illustrates how search-powered technologies—the tools that enable the search of data across multiple sources—fuel business-critical initiatives, including cloud migration and utilization, cybersecurity, and customer experience.

According to the study, data leaders remain consistent on a future vision to integrate cybersecurity, observability, and enterprise search point solutions into a single platform, citing search-powered solutions that offer a breadth of functionality, including high storage capacity, a cloud-based platform, and scalability, as crucial to powering their digital transformation initiatives.

“As organizations look ahead to the digital future of business, they need technologies that turn a growing volume of raw data from a variety of disparate sources into accessible and useful business insights,” said Matt Minetola, Chief Information Officer, Elastic. “Search-powered technologies provide the critical functionality to help organizations drive speed, scale, and productivity for the next wave of digital transformation.”

Data leaders expect a shift toward integrated platforms over isolated point solutions over the next three years—and they expect integrated platforms to incorporate a wide range of point solution functionality

• 83% of respondents agree that using a single integrated search platform help them reduce costs for their business and 81% report that it enables them to give time back to their teams to do meaningful work.
• 76% of respondents report that an integrated platform should include security, data visualization, and analytics solutions.
• 72% of respondents expect an integrated platform to include enterprise search functionality.
• 67% of respondents expect an integrated platform to include an observability solution.

The study further reveals that data leaders will require more from search-powered technologies as their organizations continue their digital transformation journeys. To remain competitive, they will need comprehensive, flexible, and integrated cloud-based search solutions that enable scale.

85% of data leaders say they want to improve the ability to find information across multiple clouds and data storage environments to help enable IT operations, security, and development teams.

• 84% of respondents are investing in search-powered technologies to increase the speed and productivity of their organizations and help them solve business challenges faster.
• 83% of respondents report that search-powered technologies can deliver essential insights that hasten decisions and create a better user experience for customers and employees.
• 81% of respondents report that alignment would improve in their organization if it were easier to find and share data.
• 53% of respondents report that cybersecurity is a key priority driving their digital business initiatives, with data security issues or other risk exposures cited as the most common result of challenges with finding, sharing, and visualizing data.

Find more information and view the full findings from the Search-Powered Technologies: A Mission-Critical Enabler For The Digital Future Of Business study here.

Methodology:

The study “Search-Powered Technologies: A Mission-Critical Enabler For The Digital Future Of Business” (April 2022) was commissioned by Elastic. Forrester Consulting conducted a global survey of 832 data architecture strategy decision-makers at global enterprises in Australia, Brazil, France, Germany, Japan, The Netherlands, the United Kingdom, and the United States. The custom survey began in April 2022 and was completed in April 2022.

About Elastic:

Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. We help organizations, their employees, and their customers accelerate the results that matter. With solutions in Enterprise Search, Observability, and Security, we enhance customer and employee search experiences, keep mission-critical applications running smoothly, and protect against cyber threats. Delivered wherever data lives, in one cloud, across multiple clouds, or on-premise, Elastic enables 18,000+ customers and more than half of the Fortune 500, to achieve new levels of success at scale and on a single platform. 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/20220802005968/en/

Jenn Malleo

Elastic Public Relations

PR-Team@elastic.co

Source: Elastic N.V.

FAQ

How does Elastic (ESTC) impact digital transformation according to the new study?

The study indicates Elastic's search-powered technologies are essential for digital transformation, with 84% of data leaders agreeing they boost success.

What do data leaders say about integrated search platforms?

83% of data leaders believe that a single integrated search platform can help reduce costs and improve team productivity.

Why are search-powered technologies important for organizations?

Data leaders report that search-powered technologies enhance productivity and help organizations solve business challenges more rapidly.

When was the study on search-powered technologies conducted?

The study titled 'Search-Powered Technologies: A Mission-Critical Enabler For The Digital Future Of Business' was completed in April 2022.