Quantifying the economic impact of Elastic Security
As public sector organizations grapple with a changing economic and political landscape, the focus has increasingly turned to driving efficiencies, reducing costs, and strengthening resiliency.
For government agencies tasked with spending taxpayer funds judiciously, leaders must balance risk management with total cost of ownership (TCO). Leaders are asking themselves questions such as what the cost of a potential security breach is, and weighing that against technology, training, and personnel costs. To better understand the efficiencies and business impact Elastic Security has delivered to customers, we partnered with Enterprise Strategy Group to uncover these findings. Their report is based on an aggregate of actual experiences and results experienced by SOC leaders who use Elastic Security.
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A stronger security posture, at a lower cost
Enterprise Strategy Group found that Elastic Security not only succeeded in strengthening organizations’ resilience and cybersecurity analytics, but it was able to do so while delivering significant cost savings. By reviewing customer data and interviewing security leaders who use Elastic, Enterprise Strategy Group found three consistent value themes:
- Better security analytics with ML and AI: Elastic Security provides SOC leaders with actionable insights on cybersecurity threats, starting with the most pressing ones. Elastic also gives teams full visibility into their environments, helping them identify critical visibility gaps.
- Strengthened resilience: The study found that organizations using Elastic Security were able to more effectively prevent and recover from cybersecurity events.
- Reduced costs: Elastic Security helps organizations lower costs by consolidating tools and optimizing resources via a unified, open standards-based data platform, as well as reducing the time employees spend on repetitive and fatiguing tasks.
Diving deeper into the cost savings of Elastic Security
Tool consolidation: The study found that 37% of organizations are using more than 25 different security tools. Each of these tools comes with costs from the following areas: licensing, IT resources needed to maintain, performance hits in the user experience, and overall complexity.
However, the research found that organizations using Elastic Security were able to eliminate most of their legacy security products — and their associated costs — by using Elastic’s consolidated platform and data mesh approach. For public sector organizations trying to build efficiencies amid budget cuts and reduced personnel, these findings offer significant opportunity to reduce costs without sacrificing your security posture.
Infrastructure costs: Additionally, Enterprise Strategy Group found that Elastic Security can also reduce organizations’ infrastructure costs. While Elastic Security can be run on-premises, the analysis focused on the value obtained by running Elastic in a cloud-based configuration. Comparing licensing and infrastructure costs of Elastic with a comparative cloud-based solution resulted in a $973,000 annual savings.
Affordable data tiering: Elastic’s flexible data tiering system enables agencies to store data based on how often they need to access it, ensuring that they can comply with storage regulations affordably. As the study’s authors call out: “Elastic’s unique data mesh architecture provides extensive visibility across attack surfaces. Elastic customers can retain years of data — searchable in seconds — in cost-effective object storage to uncover lurking threats and uniformly analyze data stored across geos and clouds without the delays, costs, or complexities of backhauling.”
Quantifying the full benefits of Elastic Security
By migrating to Elastic Security, organizations have experienced the following quantifiable benefits:
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36% reduction in annual risk exposure
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42%–56% reduction in total cost of ownership
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74% reclamation of full-time security employees’ hours, allowing for more strategic initiatives
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75% lower false positives with Elastic Security’s machine learning-powered anomaly detection
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Reduced mean time to investigate from 300 minutes to 90 minutes and mean time to remediate from 180 minutes to 6 minutes
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66% faster time to value of new hires and 20% reduction in employee turnover
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90% reduction in security events and incidents
Protection of our IP is our #1 priority, not cost. That being said, Elastic is almost 35% cheaper than our previous solution and gives us far better insights and protection.
Analyzing the Economic Benefits of Elastic Security
Build more efficiencies with additional use cases
With its open source technology and support for open standards like OTel, the entire Elastic Search AI Platform was built for efficiency and interoperability. At its core, Elastic was built on the ability to ingest any data type and organize it so it’s accessible from anywhere and able to be analyzed holistically.
When all data is organized, findable, and available for analysis, agencies can use it as a foundation for many other use cases with data at their core. This is a far more efficient use of technology and resources compared to paying for separate systems to store and analyze data in silos.
In addition to using Elastic for cybersecurity, government agencies have widely deployed Elastic for other use cases such as:
Read the entire study
Enterprise Strategy Group’s study has shown that Elastic Security can help public sector organizations gain deeper visibility into security environments through integrated AI and ML, while lowering costs and strengthening efficiency.
To learn more about the economic impact and value of Elastic Security, read the report. And for additional customer insights, be sure to join our webinar, Analyzing the economic impact of AI-driven security analytics, featuring the ESG analyst who wrote the report and an Elastic public sector customer, Sierra Nevada Corporation.
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