Stardog, the leading Enterprise Knowledge Graph (EKG) platform provider, today released the results of a commissioned Forrester Consulting Total Economic Impact™ Study (TEI), which concludes that enterprises can realize up to $9.8 million in benefits, driven by improved analytics insight, reduced DataOps cost, greater data scientist productivity, and increased revenue.
Using the Stardog Enterprise Knowledge Graph platform, customers tapped innovations like explainable AI, data virtualization, reusable semantic data modeling and scalable complex query performance to help speed analytics insight and reduce DataOps cost. Data and analytics teams interviewed for the study experienced the following key benefits of Stardog’s Enterprise Knowledge Graph Platform:
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- Improved Productivity of Data Scientists and Data Engineers: Stardog improved productivity of data scientists by 75 – 95% or $3.8 million in benefits. Customers shared that improved data management capabilities enabled data scientists and engineers to spend less time gathering, cleaning and querying data, and more time analyzing data insights and building analytic models. According to a Director of Analytics and Informatics in R&D and Business Technology at a global pharmaceutical company, “The [data scientists] tell us, ‘We’ve never seen data like that before. Can you do that again?’ And then they come back to us with another list of requests—the answer is, yes.”
- Faster Analytics Development: Organizations reported that analytics innovations were completed two to three times faster with Stardog compared to using traditional relational or other graph technologies.
- Infrastructure Savings: By virtually connecting to data lakes, data warehouses and other data sources to Stardog, the composite customer saved $2.6 million in data infrastructure costs from avoided copying and moving data and improved query performance on lower-cost hardware.
- Increased Profits: The composite customer reported $2.4 million from analytics projects due to enhanced quantity, quality, and speed of insights with Stardog to unlock new business opportunities.
“Our customers have proven the business value that can be generated when an organization combines semantic search and query, data virtualization, and AI on one knowledge graph platform,” said Kendall Clark, cofounder and CEO at Stardog. “We believe the Forrester study is validation that this unified approach enables data and analytics teams to innovate faster and better to deliver meaningful business value.”
According to The Forrester Wave™ Graph Data Platforms, Q4 2020, “graph data platform is a new and emerging market that allows organizations to think differently and create new, intelligence-based business opportunities that would otherwise be difficult to develop and support.” This Forrester Consulting Total Economic Impact™ study is a tool to identify the potential financial impact knowledge graph data platforms can have on their business.
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