Study finds businesses can realize 315% ROI with KX Insights real-time data analytics platform
London, April 5th, 2022: KX today published findings that reveal deploying KX Insights, its real-time data management and analytics platform, could realize a return on investment (ROI) for companies in the manufacturing sector of 315% over three years and a payback in less than six months.
The findings come from a new Forrester Consulting study which has quantified four significant commercial benefits realized by businesses that have implemented KX Insights, along with several notable improvements to processes and expenditure.
According to the study, a composite organization (see methodology) implementing KX could experience benefits of $5.72M over three years versus costs of $1.38M, adding up to a net present value (NPV) of $4.34M and a 315% Return on Investment.
The four quantified commercial benefits from deploying KX include:
- Significant cost savings for data management and manipulation that can be reinvested in other data projects and innovation.
- Faster product iteration with customers able to refine development, production, and network fixes up to 85% faster compared to their previous capability.
- Improved product reliability thanks to more robust testing and deeper statistical analysis and the capability to test in real-time.
- Reduced costs for unneeded backup components and infrastructure thanks to the greater product reliability and deeper understanding of processes.
Kathy Schneider, Chief Marketing Officer, KX said: “A seismic shift is impacting how businesses gain and retain their competitive edge, and that shift is the huge growth in real-time data and the value locked within it. For companies to succeed in today’s data-intensive environment they need a modern technology platform that can capture, process and analyse real-time and historical data at both speed and scale. We believe this Forrester study demonstrates the significant and quick ROI that KX can deliver to businesses.”
According to the study, and prior to implementing KX Insights, real-time data management and analysis was often being performed via a patchwork of costly, disparate legacy systems. This made rapid, automated decision-making based on real-time business insights difficult and costly. Moreover, companies were missing out on critical findings that could yield significant operational and commercial benefits.
KX delivers an integrated data management and analytics platform for real-time decision-making in the cloud, on-premise, and at the edge. It powers a wide variety of use cases where large volumes of streaming data need to be integrated from a diverse set of inputs, analyzed in real-time and enriched with historical context to drive critical, in-the-moment decisions. In the manufacturing and IoT sectors, KX is leveraged for component and systems management as well as overall performance improvement.
Methodology
KX commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying KX Streaming Analytics Platform.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed four decision-makers with experience using the KX Streaming Analytics Platform. For the purposes of this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization.
The full study can be downloaded here: https://bit.ly/3uX14cj.
Learn more at the upcoming KX webinar on April 26th where guest speaker Mike Gualtieri, Vice President & Principal Analyst, Forrester will join us to discuss the importance of why a single integrated real-time data platform is key in the role of delivering speed to business value in a modern data landscape. Register here: https://bit.ly/3LkpZx9
