Nearly half of organizations are considering replacing or augmenting their current Security Information and Event Management (SIEM) solutions due to several evolving needs, including the increased use of cloud technology, the demand for integrated data, and the necessity for faster response times. Research led by ThoughtLab, co-sponsored by Elastic, highlights that many executives, particularly CEOs and CTOs, are seeking SIEMs that can provide better visibility in cloud-native environments, advanced analytics, machine learning, and more integrated data capabilities. Elastic's cloud-based SIEM solution addresses these needs by offering features like the Elastic Common Schema for improved data integration and faster query responses, which are crucial for reducing the mean time to detect (MTTD) and mean time to respond (MTTR) to security threats. The Forrester Total Economic Impact™ study suggests that Elastic Security can significantly reduce data breach risks and costs, with businesses reporting faster query times and more efficient threat detection and response, ultimately leading to a reduction in business disruption costs by over $6.5 million over three years.