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Teradata's ClearScape Analytics boosts profitability, study reveals
Fri, 1st Mar 2024

According to a new study by Forrester Consulting, customers of Teradata's ClearScape Analytics have witnessed a significant rise in profitability, supported by noticeable enhancements in data scientist productivity, swift market access, and scalable AI/Machine Learning (AI/ML) model deployment, amongst other factors. These findings form part of the Forrester Consulting Total Economic Impact (TEI) research, which Teradata sponsored.

The TEI study, titled "The Total Economic Impact of Teradata ClearScape Analytics", evaluated conclusions drawn from interviews with a North American healthcare organization. This establishment reports over $5 billion in yearly revenue and a workforce exceeding 25,000. The insights obtained during this analysis were used to forecast a three-year economic overview. These benefits, all directly linked to ClearScape Analytics, include improved data science operations, a 50% increase in the cumulative time saved for the data science lifecycle, and a tripling of the number of models handled by data scientists.

The healthcare organization witnessed a phenomenal ROI of 244% over three years, with the payback period being under 6 months for the ClearScape Analytics investment. ClearScape Analytics enabled improvements that led to over $125 million in profit from models, along with a surge in email open rates from 2% to 46%.

Prior to deploying ClearScape Analytics, the healthcare organization expressed struggles in increasing the scale of its AI/ML models. The company faced issues with managing model drift, updating feature banks, and understanding which AI/ML work would provide genuine business value. ClearScape Analytics not only helped mitigate these obstacles but also improved customer service and halved the team's workload. New employment opportunities resulted in increasing the data science team by 50%. The company also achieved a three-fold increase in the number of models developed and further time to investigate additional AI/ML use cases.

Jacqueline Woods, Teradata's Chief Marketing Officer, stated, "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."

Additional benefits from ClearScape Analytics were also outlined in the study. The SVP of Enterprise Data and Analytics asserted the decision to adopt ClearScape Analytics was cheaper, faster to implement, and easier to justify to internal security and IT stakeholders than other options. ClearScape's robust AI engine enabled the customer to quickly scale end-to-end AI/ML pipelines, maintaining security, trust, and cost control.

The TEI methodology devised by Forrester is aimed at improving technology decision-making processes and helping vendors like Teradata articulate the value proposition of their products and services to their clients. It assists enterprises in illustrating and realizing the practical value of IT initiatives to both senior management and other critical business stakeholders.