Predictive analytics is becoming an imperative for nearly every organization that hopes to increase market share. Modern data analytics techniques provide insights into where a business is heading, based partly on where it has been, and on the clear trend lines that point to where the business is going. So, if you’re an entrepreneur, or you work for one, deciding to invest in a data analytics platform is one of the best steps you can take toward reducing the risk your organization faces.
But how do you know which analytics platform to choose? Does that choice, itself, constitute a risky decision?
Vertica recently commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study,* which uncovered a three-year customer ROI of 385%, a net present value of $10.1 million, and a payback period of less than six months for Vertica’s Unified Analytics Platform. According to the study, key quantifiable benefits identified by four Vertica customers included:
- $4.4 million eliminated from prior data warehouse costs
- $1 million saved in reduction in dedicated database administrators
- $2.4 million in revenue generated due to machine learning products and machine learning driven productivities
- $2.7 million saved in field service application costs
- $2.3 million in value realized in more decisionable business insights with less effort
These numbers are averages for four distinct companies, as described in the study. On top of that, the Forrester study includes a number of unquantified benefits to using Vertica:
- Broad level of comfort in stability
- Proof of concept shows proof of value
- Unified data architecture does more than provide cost savings
- Having Vertica as part of the team
Those findings point to the ease of doing business with Vertica. We take pride in making our customers happy, and doing whatever we can to help them on their predictive analytics journey.
While we can’t remove every single risk from your business model, this new Forrest TEI study proves how we’ve greatly reduced those risks for some of our Vertica customers. Download your copy today. It’s from one of the software industry’s most respected analyst organizations, and we are certain it will be worth your while! Also, you can join our upcoming webinar on this same study.
* A Forrester Total Economic Impact™ Study, a May 2021 commissioned study conducted by Forrester Consulting on behalf of Vertica.