Teradata’s ClearScape Analytics Shows Nearly 250% ROI, According to Total Economic Impact Study

Rhea-AI Summary

Teradata's ClearScape Analytics drives profits and productivity through AI innovation and cloud analytics, as highlighted in a Forrester study. The study showcases significant improvements in data scientist productivity, faster time-to-market, and increased AI/ML model deployment, resulting in a 244% ROI over three years for a healthcare organization.

Positive

• Significant improvements in data scientist productivity and time-to-market
• 36-month, risk-adjusted present value benefits include a 244% ROI
• $125 million profit from AI/ML models enabled by ClearScape Analytics
• 50% improvement in cumulative time savings for data science lifecycle
• 3x more models managed by data scientists
• Increase in email open rates from 2% to 46%
• ClearScape Analytics helped mitigate scaling issues and improve customer service
• Deployment of ClearScape Analytics led to a 50% increase in the data science team and tripled model development and deployment
• Forrester study emphasizes the importance of investing in solutions like ClearScape Analytics for responsible AI/ML model building

Negative

• None.

New study shows how Teradata’s AI innovation and cloud analytics capabilities help drive profits, productivity improvements, and customer engagement

SAN DIEGO--(BUSINESS WIRE)-- 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 Impact^TM (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

Source: Teradata

FAQ

What are the key findings of the Forrester study commissioned by Teradata regarding ClearScape Analytics?

The Forrester study highlighted significant improvements in data scientist productivity, faster time-to-market, and increased AI/ML model deployment, resulting in a 244% ROI over three years for a healthcare organization.

How much profit was generated from AI/ML models enabled by ClearScape Analytics?

$125 million profit was generated from AI/ML models enabled by ClearScape Analytics.

What percentage improvement was observed in cumulative time savings for data science lifecycle?

There was a 50% improvement in cumulative time savings for data science lifecycle.

What was the increase in email open rates after using ClearScape Analytics?

The email open rates increased from 2% to 46% after using ClearScape Analytics.

How did ClearScape Analytics help the healthcare organization in mitigating scaling issues?

ClearScape Analytics helped the company to mitigate scaling issues, provide better customer service, and halve the team's work time.