Many organizations sit on a treasure trove of information that has the potential to significantly improve organizational operations, decision making and cost savings. But if this data is spread across multiple locations and in differing formats, it can do more harm than good. Poorly integrated data leads to bad business decisions and negative customer experiences, decreases your competitive advantage, and in turn, slows innovation and growth.
In order for government agencies to make the most of their most valuable asset - data - leaders must invest in self-service data architectures that scale easily, automate data ingestions, and deliver insights in real time. Data integration solutions can help organizations accelerate discovery for business intelligence and analytics. But is the bang really worth the buck?
Forrester recently conducted a Total Economic Impact study to examine the potential return on investment (ROI) enterprises may realize by deploying the Qlik Data Integration Platform within their organization. The study examined four organizations that implemented the platform across industries including banking and financial services, metals and mining, and software development.
Prior to partnering with Qlik, the surveyed customers used disconnected in-house and external solutions for data management. Their previous data integration efforts yielded limited success and left customers frustrated as they experienced trouble converting insights into action, managing growing data volumes and complexity, and poor integration. After implementing Qlik’s platform, Forrester found that the suite offered the surveyees a 306-percent ROI, with a six month payback period and $12.6 million in total potential benefits. Additionally, the platform truly transformed the organizations’ operations, providing surveyed customers with three unique benefits:
- Data Management Efficiencies. Respondents said their organizations struggled to ingest and deliver data from multiple sources. Data engineers and IT staff spent hours extracting, transforming, and loading data into warehouses, but data processing was haphazard, data quality was inconsistent, and this process required additional administration. With the Qlik Data Integration Platform, the organizations gained the ability to ingest massive amounts of transaction data in real time from multiple sources and build scalable data pipelines.
On average, the platform reduced the workload of data engineers and IT staff by up to 25%, leading to savings of more than $10.5 million over three years.
- Seamless Data Integration and Governance. Upon implementing Qlik, surveyed customers experienced significantly improved data governance and integration efforts with automated data collection and synergy, enabling the organizations to make better business decisions and provide better value and experiences for their customers. Democratized data also resulted in fewer internal requests sent to data engineers from business lines, and it sped up time-to-delivery for requests that could be satisfied through the Qlik Data Integration Platform. With this improvement and ridding the need to undertake potentially significant efforts to migrate data, surveyees saw average savings of $1.6 million over three years.
- Simplified Reporting. With the Qlik Data Integration Platform, the surveyed organizations benefited from the ability to self-provision data for their analysis as well as AI and machine learning initiatives, and to get immediate insights without relying on technical teams to get this data for them. Through time saved from teams being able to directly access data and its capabilities, the surveyees saw savings of more than $500,000 over three years.
Each year, organizations are collecting and analyzing a greater volume and variety of data than ever before, and they need a tool that allows them to not only work with a variety of data formats and data storage platforms—in dynamic, hybrid computing environments—but also streamline data pipeline development. Now is the time to invest in a data platform that will do just that.
For more information about Qlik’s Data Integration Platform, please visit https://www.qlik.com.
