Enterprise Strategy Group (ESG) Predicts DataRobot Can Provide a 3.5–4.6X Expected ROI
A new economic validation report shows the DataRobot AI platform can transform data science initiatives with a 3.5x to 4.6x return on investment. The new findings from industry analyst ESG, The Economic Benefits of DataRobot AI Platform, detail how ESG models predict improved operational efficiencies, reduced risk, and improves business outcomes with the DataRobot platform for artificial intelligence and machine learning.
The report, based on customer interviews and industry metrics, is now available for download.
90–98% Faster Time to Desired Analytics Capability
ESG notes that DataRobot can help customers provide a 3.5X to 4.6X ROI in a timeframe that’s up to 90% to 98% faster. Customers reported that once DataRobot was implemented they were able to be up and running with their first model in just nine hours. In contrast, customers estimate that using their existing teams without DataRobot it takes approximately 500 hours to build and productionalize a single new model from scratch.
In today’s rapidly changing economy, organizations need to see quick time to value from data science experiments and production models. ESG contrasted the time and cost of working with existing teams, rapidly adding headcount, and using DataRobot AI Platform to deliver 20 projects.
ESG criteria assumes that an organization would want to deliver AI-driven insight capabilities to 20 critical functions across different business units and that these projects would transpire in series with each requiring 500 hours. This would total an astounding 4.8 years to deliver all 20 functions—a less than ideal situation for the modern enterprise.
For contrast, ESG also modeled the expected time to build the same 20 capabilities with a rapidly-growing team of data scientists, analysts, IT personnel, and project managers. With this team, the best case scenario would take roughly 10.8 months to reach the desired analytics capabilities. With DataRobot, the same large team could deliver the capabilities to all 20 functions in approximately one month with DataRobot—a 90% to 98% faster time to desired analytics capability.
83% Faster Time to Initial Value – and at a Lower Cost
The ESG economic value report also shows that DataRobot would equip an organization with an 83% faster time to initial value. The DataRobot time to deliver new analytics capabilities to the first functional area of the organization is considerably faster than manual efforts.
Finally, ESG reports the DataRobot AI platform can deliver a 75-80% reduction in the cost of making analytics accessible to the organization. The ESG evaluation compared the speed of the DataRobot platform to building the capabilities with internal resources and existing tools and processes.
Improve Strategic Business Outcomes with DataRobot
When considering the potential benefit to the enterprise, improved time to value around deploying and expanding analytics capabilities is vital. ESG reports that, with the value of DataRobot and an effective data analytics strategy, customers can expect to see faster time to market for their products, improved operational efficiencies across the business, and earlier insight into potential supply chain issues.