Redis is an in-memory database, and Redis Enterprise adds a whole layer of management, automation, resiliency, and security capabilities on top of it, making it enterprise-ready. To many, in-memory equates to “expensive”—a premium you choose to pay for top performance. And the functionality provided by enterprise software can also bring a hefty price tag. So how can such a technology turn out to be a cost-saving vehicle?
To help answer that question in a deep and methodological way, we commissioned the best experts in that field, Forrester Consulting, and their Total Economic Impact™ framework, to conduct research, interview Redis customers, and share their findings. There’s a lot of great insight in the study, but when it comes to how Redis Enterprise saves you money, these four really stood out to me:
Redis Enterprise helps legacy applications and databases better scale and deliver more value from their existing footprints by front facing them as an enterprise cache. It also helps in modernizing legacy NoSQL and SQL databases and simplifying the tech stack when used as a primary database, so the overall cost of building and maintaining new apps goes down.
“We found relational database expansions were not going to be cost-effective compared to Redis’ cache. The reality is that it takes much less capacity to do the same thing in Redis Enterprise.”– Senior Manager, Engineering, Financial Services Technology
Redis Enterprise helps get applications to market faster as a direct outcome of its speed and stability, and as a result has a positive impact on digital income generation. Think about it. Your ability to grab market share in any space is really dependent on two key factors: time to market, and the quality of service once your product is in the market. Redis Enterprise has a material impact on both.
“Our customers tripled in the past year, and with Redis Enterprise we can now accommodate millions of simultaneous requests.”– Senior Director, Payment Systems Provider
In regulated industries, and highly governed businesses, SLA breaches often carry financial penalties. When demand rises and tech stacks fail to deliver against those SLAs, penalties kick in and can have a material impact on the cost of running the business and its profitability. Redis Enterprise helps in avoiding penalties and in recouping income from improved performance. That means reducing customer churn and gaining more returning business from existing customers.
“The machine learning enabled by Redis Enterprise emulates the decision-making patterns of our partners when deciding to decline or approve transactions. It engages when their IT systems encounter issues, creating income we would otherwise miss.”– Senior Vice President Engineering, Global Identity Verification
We’re all very familiar with the notion that open source solutions are free. But this notion starts to really change as your operations grow and you need to deploy more and more DevOps resources to build, maintain, and operate those “free” stacks. Redis Enterprise, with its embedded management capabilities, alleviates DevOps teams from much of the workload associated with deploying, configuring, scaling, and maintaining their Redis environment. This significantly improves DevOps and IT teams’ efficiency, freeing them to focus on pushing new code rather than maintaining the database infrastructure.
“Redis helps us deploy automation as well as leverage modules. These save substantial developer time, allowing us to dedicate roles to other workloads and create additional value.”– Senior Manager, Financial Services Technology
How much money can Redis Enterprise save exactly? The study found that a composite organization realized $4.12M in net financial benefit over a three-year period, with 350% ROI over three years and a payback period of less than 6 months. Want to find out more about how everything connects and how those numbers are calculated? The Total Economic Impact™ of Redis Enterprise study has all those answers for you.
In the next chapter of the Redis Enterprise value blog series, I’ll share the story of one of our long-time customers, Fiserv, whom I met with in early February. We’ll provide a perspective on Redis Enterprise’s impact on their tech stack and their business over the past few years. Stay tuned!
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