SAN MATEO, Calif., Nov. 18, 2021 /PRNewswire/ -- Neo4jⓇ, the world's leading graph data platform, announced the availability of the 2021 Forrester Total Economic ImpactTM (TEI) Study, commissioned by Neo4j and conducted independently by Forrester Consulting in 2021.
The TEI Study is based on Forrester's in-depth interviews with Neo4j customers and provides a quantitative business value justification designed to help IT and data analytics leaders. It demonstrates a composite cost savings and business benefit analysis realized by using Neo4j's graph data platform in scenarios spanning several different cloud and on premises configurations. The study also provides a model for determining the economic value for any organization considering implementing graph technology.
The complete findings of the Forrester TEI Study of Neo4j can be accessed here. Readers will learn how Neo4j customers use the company's graph data platform to accelerate digital transformation and time-to-value, while subsequently realizing material business benefits.
Key results of the TEI Study on Neo4j's graph data platform include:
- Neo4j pays for itself more than 4 times in the span of three years, a return on investment (ROI) of 417%
- Improved business results account for 43% of the ROI
- Digital transformation savings account for 35% of the ROI
- Accelerated Time-to-Value (TTV) accounts for 22% of the ROI
Trusted by more than 950 enterprise customers, including Adobe, AstraZeneca, eBay, Levi Strauss & Co., UBS, and Volvo Cars, Neo4j is the world's most widely deployed graph database. The company has generated a vibrant global community of hundreds of thousands of highly skilled application developers and data scientists building wide-ranging applications that require digitizing connections in data at scale. From determining the price of an airline ticket in real time, exposing complex criminal networks responsible for cyber attacks and money laundering activity, or supporting the ICIJ's Pandora Papers investigation, our community is using Neo4j to solve some of the world's most complex challenges.
The TEI Study is based on the experiences of production Neo4j customers, with one theme coming up in much of the feedback: Specifically, that working with Neo4j opened up new possibilities that were not conceivable before. A principal architect at a financial services firm that was part of the Forrester TEI study shared their key insight on the business transformation they experienced by implementing Neo4j:
"It's just like you're building an airplane and you said, 'Oh, I have a great steam engine. Let's try with that first because that's what we use everywhere.' But you need a different thing. So what's the comparison of steam engines versus jet engines for aircraft? There's no real comparison."
For More Information
Watch guest speakers Noel Yuhanna and Mary Barton from Forrester provide an executive summary of the study's methodology, key findings, and quantified results in this video.
Neo4j is the world's leading graph data platform. We help organizations – including Comcast, ICIJ, NASA, UBS, and Volvo Cars – capture the rich context of the real world that exists in their data to solve challenges of any size and scale. Our customers transform their industries by curbing financial fraud and cybercrime, optimizing global networks, accelerating breakthrough research, and providing better recommendations. Neo4j delivers real-time transaction processing, advanced AI/ML, intuitive data visualization, and more. Find out more at neo4j.com and follow us at @Neo4j.
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