Teradata’s ClearScape Analytics Shows Nearly 250% ROI, According to Total Economic Impact Study
February 29 2024 - 1:50PM
Business Wire
New study shows how Teradata’s AI innovation
and cloud analytics capabilities help drive profits, productivity
improvements, and customer engagement
Teradata (NYSE: TDC) — Customers of Teradata’s ClearScape
Analytics experienced increased profitability through a notable
improvement in data scientist productivity, faster time-to-market,
scaling of artificial intelligence/machine learning (AI/ML) model
deployment, and more. Those were among the conclusions announced
today in a Forrester Consulting Total Economic ImpactTM (TEI) study
commissioned by Teradata.
The study, entitled “The Total Economic Impact™ of Teradata
ClearScape Analytics™” explored findings gleaned through Forrester
Consulting interviews with a North American healthcare organization
with $5 billion in annual revenue and over 25,000 employees, and a
ClearScape Analytics customer. Forrester then used the information
to extrapolate and project a three-year financial analysis showing
the 36-month, risk-adjusted present value (PV) benefits including
the following:
- Improvements in data science operations directly attributed to
ClearScape Analytics
- 50% improvement in cumulative time savings for data science
lifecycle
- 3x more models managed by data scientists
- It took less than 6 months to achieve payback for the
healthcare organization’s ClearScape Analytics investment with an
ROI of 244% over three years
- Improvements in AI/ML projects enabled by ClearScape Analytics
- $125 million profit from models enabled by ClearScape
Analytics
- Increase in email open rates from 2% to 46%
Before using ClearScape Analytics, the healthcare organization
interviewed for the TEI study said it faced difficulties in scaling
its AI/ML models, and experienced problems around managing model
drift, updating its feature banks and more. Because of these
issues, the organization struggled to identify which AI/ML work
would deliver real business value. Moreover, the organization could
not run as many models as it would have liked as their data science
team was at capacity and struggled to find ways to create new
business value with AI/ML. Deploying ClearScape Analytics helped
the company to mitigate these obstacles, provide better customer
service, and halving the team’s work time. The company has now
increased its data science team by 50%, tripled the number of
models it was able to develop and deploy, and has freed up time to
explore additional AI/ML use cases.
The Forrester study noted, “Investing in a solution like
Teradata ClearScape Analytics is crucial for enterprises as it
enables them to responsibly build and maintain machine learning
(ML) models for their custom AI/ML solutions.”
“The important short- and long-term benefits cited in this
study, as noted by our healthcare customer, can be experienced by
companies across a broad spectrum of industries where there is a
need for robust, open and connected AI/ML capabilities,” said
Jacqueline Woods, Teradata’s Chief Marketing Officer. “ClearScape
Analytics illuminates this transformative potential, not only
delivering these capabilities at scale but also empowering
organizations with unparalleled autonomy and seamless access to
deliver near real-time insights and optimize business results.”
The study also identified additional benefits from ClearScape
Analytics:
- “The SVP of enterprise data and analytics told Forrester that
adopting ClearScape Analytics was cheaper, easier to justify to
internal security and IT stakeholders, and faster to implement than
alternatives.”
- “ClearScape Analytics allowed the interviewee’s organization to
reduce manual tasks, increase productivity, and successfully scale
models into production …”
- “ClearScape Analytics enabled the SVP of enterprise data and
analytics … to deploy more models into production more frequently
and with fewer resources.”
- “Models built with ClearScape Analytics improved patient
population health and outcomes through personalized messaging,
proactive and relevant follow-ups, a better understanding of
population health, and more.”
- ClearScape Analytics’ powerful AI engine empowered the customer
to quickly scale end-to-end AI/ML pipelines with accountability,
security and trust -- all while controlling costs.
Forrester’s TEI methodology is designed to enhance technology
decision-making processes and assists vendors in communicating the
value proposition of their products and services to clients. The
TEI methodology helps companies demonstrate, justify, and realize
the tangible value of IT initiatives to both senior management and
other key business stakeholders.
For more information about Teradata or to obtain a copy of the
TEI study, click here.
About Teradata
At Teradata, we believe that people thrive when empowered with
trusted information. We offer the most complete cloud analytics and
data platform for AI. By delivering harmonized data and trusted
AI/ML, we enable more confident decision-making, unlock faster
innovation, and drive the impactful business results organizations
need most. See how at Teradata.com.
The Teradata logo is a trademark, and Teradata and ClearScape
Analytics are registered trademarks of Teradata Corporation and/or
its affiliates in the U.S. and worldwide.
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MEDIA CONTACTS January Machold 858-485-3049 office
January.Machold@Teradata.com
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