Forrester Total Economic Impact™ Study Outlines Lucidworks Platform Benefits

When you go searching, you should discover something. At Lucidworks, we’re all about creating memorable experiences by making our customers’ search their superpower. Whether our users are employees or customers, we believe search can connect the entire digital experience.

For Forrester’s recent Total Economic Impact study of the Lucidworks Platform they interviewed five customers to better understand the benefits, costs, and risks – one result being it provided a three-year 391% ROI. Here are a few major takeaways:

1. Lucidworks saves on developer reallocation

Reallocating resources on the turn of a dime is common when strategies need to shift quickly – especially when it comes to ecommerce trends and logistics. The Forrester study found that the reliability and intuitive interface offered by Lucidworks allowed the interviewed customers to reallocate experienced developers to other high-value initiatives.

The technical lead of enterprise search at a defense contractor said, “It was a big sell for us the fact that it has an administrative dashboard that doesn’t necessarily require a technical person to add data sources, to fix how things are indexed, to look at the analytics.”

The senior VP at a specialty retailer said, “We have been able to redirect five full-time people, and these are pretty senior engineers with most of them having between five and 10 years of experience at our organization.”

2. Lucidworks increases ecommerce conversions

When people can find what they want, they are more likely to make a purchase – it isn’t complicated. That being said, many brands still struggle to deliver relevant, personalized search results or alternative recommendations to their customers.

Interviewees for the study conducted A/B testing to measure the results of improved product discovery on revenues. As the VP of e-commerce, at a technology sales firm said: “We identified control groups of customers, and this is where having good customer data really helped us. We are able to say for every customer we rolled onto this new experience, we could have an equivalent customer, and measure the same things against those two sets of customers.”

The senior VP at a specialty retailer explained, “If somebody is searching for a product and searching in a certain way [Lucidworks] knows that 400 other people have searched the same string and a substantial number of them have put something in a cart when they were shown these results.”

“If we think about it as search, we tend to think of it as a technology problem that – if we just index content – it will show up when people search. But if we start to think about it as product discovery, it adds breadth to what that encompasses. When you look at what Lucidworks now drives on our site, it is so much more than just search.”
– VP, Ecommerce, Technology Sales

3. Lucidworks saves personnel search time

The average employee wastes two and half hours a day simply looking for information. That’s nearly an entire 9-5 day of work a week. Interviewees noted that Lucidworks allowed their firms to implement high-value search use cases across multiple data sources and content types. Doing so reduced search time for the interviewees’ personnel. The director, enterprise search at a professional services firm said, “People would probably still end up finding what they need, but instead of taking 10 seconds, [it took them] 10 minutes to figure out what source system it is, what the right query is, what’s the right document, etc.

Lucidworks and Generative AI

At Lucidworks, we are continuously experimenting with even more ways to create value for our clients. We are excited about the new opportunities presented by generative AI and large language models (LLMs) and are identifying ways to continue delivering the most value to Lucidworks clients. 

Interested in diving deeper into the details? Learn about the impact Lucidworks is making in the market by downloading the Forrester Total Economic Impact Report today.