Lucidworks Total Economic Impact StudyTM by Forrester Research
Forrester Consulting conducted a Total Economic Impact (TEI) study project commissioned by Lucidworks. The study shows that Lucidworks AI-driven search solution created a significant increase in sales for e-commerce of the composite organization and positive employee time savings in workplace use cases.
The TEI study identifies the cost, benefit, flexibility, and risk factors that affect an investment decision. Forrester interviewed five Lucidworks customers and created a composite organization that is a design, manufacturing, and retail entity with e-commerce revenue of $750 million per year and 1,000 employees.
The study reported the following benefits from the Lucidworks Platform (Fusion):
- Net present value of $13.92 million and ROI of 391%
- Savings from developer reallocation of $1.8 million
- Increased e-commerce profit from improved conversion amounted to $6.8 million
- Personnel time saved on search totaled $8.9 million
Download the study to view the report and learn more about the impact of Lucidworks Fusion.
We know how important it is to drive the bottom line for our clients and create a best-in-class experience for their customers. The study from Forrester Consulting demonstrates the positive impact Lucidworks Fusion and AI technology has on the digital experience for employees and shoppers. We are committed to working as a trusted partner with our clients and developing new integrations with cutting-edge technologies such as generative AI and neural search.
-Mike Sinoway, Lucidworks CEO
