Data analysis is not a one-trick pony. Your data analyst investment can reap many benefits across your entire organization. The recently published Forrester Consulting Total Economic ImpactTM (TEI) study, commissioned by Outlier, found that Outlier’s automated business analysis platform delivered 200% ROI over three years to a large global consumer brand. According to the study, key findings include:
- Increased efficiency of data science team valued at $590,627.
- Increased efficiency of business analyst team worth $380,955.
- Improved conversion from campaign optimization valued at $251,794.
- An investment payback period of merely 3 months.
- Increased time-to-value from data-in-place analysis.
- Improved data capture.
Before using Outlier, this consumer brand mixed an assortment of third-party data analysis solutions and proprietary back-end systems, giving marketing analysts and data scientists raw data to run analyses. Leaning on traditional methods, their analysts built dashboards for various business users. The result was ineffective and unproductive. The lack of business value paled compared to the amount of time and resources given to the project.
After investing in Outlier, this customer quickly realized the benefit of automating analysis and discovered key insights in short order. Campaign optimization showed bounce rates – a reduction of 30% – and an increase in customer conversion from several campaigns.
During a period of substantial market flux, this consumer brand greatly profited from the investment in Outlier. The business analyst teams experienced increased efficiency, and the marketing teams witnessed strategic marketing campaign improvements. Additionally, Outlier enabled one customer to optimize digital experiences for an average of 500,000 customers per year.
We’ve gotten massive value out of Outlier AI. It’s helped us to be more proactive and to be a state-of-the-art company. — Senior director of direct-to-consumer product sciences, retail
Join our upcoming webinar to hear directly from guest speaker Forrester and Outlier on how this analysis was completed and how this global consumer brand gets so much value from Outlier.
Download a complimentary copy of the TEI study to read and learn more.