News & Views
Results of the Total Economic Impact study (www.datarobot.com/lp/forrester-tei-study/) conducted by Forrester Consulting found that during the pandemic organizations using DataRobot’s AI platform achieve a net present value (NPV) of $4 million and a 514% return on investment (ROI).
Based on interviews with DataRobot customers from a range of industries including insurance, manufacturing, retail, and healthcare, plus subsequent financial analysis of those customers the study evaluated the financial impact that DataRobot can have on organizations.
Findings showed a wide range of quantified benefits including: improved product demand forecasting for a manufacturing company valued from $50 to $200 million; reduced fraud for a healthcare company valued at $10 million in the first year; more accurate hiring forecasting during a peak retail season, valued at $500,000; and avoiding the need to hire a data science team 3x as large.
The study findings come amid mounting enterprise interest in AI. However, many organizations have questions about how they can identify, vet, and deploy AI solutions that will deliver true business value. DataRobot’s end-to-end enterprise AI platform addresses these demands across the entire AI lifecycle.
By preparing data, automating the training of machine learning models, operationalizing AI, and continuously monitoring AI assets, DataRobot enables organizations to enhance prediction accuracy, accelerate time to insight, reduce risk, and increase revenue – all without requiring heavy investment in data science teams.
“There’s no question that being successful with AI is hard. DataRobot is committed to helping customers overcome these challenges, using its market leading end-to-end AI and expertise to drive maximum business value from this technology in record time,” says Dan Wright, President and Chief Operating Officer, DataRobot.
“We are proud of the work we have done to help our customers transform their businesses with our platform, and have our eyes set on enabling even more companies around the world to unlock the full power of human and machine intelligence.”