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A commissioned Total Economic Impact™ study conducted by Forrester Consulting, January 2024
Organizations need quality data to enable effective decisions that allow them to operate efficiently, plan for the future, and grow. Yet many organizations continue to struggle with a lack of a single customer view, duplicated records, inefficient processes, and ineffective results.
But that's where Quantexa comes in. Our Decision Intelligence Platform enables a reusable and renewable trusted data foundation that supports multiple use cases and enables the use of AI and advanced analytics to improve operational and data management efficiency, improve the customer experience, have stronger compliance postures, and simplify legacy technology.
Quantexa commissioned Forrester Consulting to interview six customers in data-related roles across banking, telecommunications, and the public sector to examine the potential return on investment and other benefits enterprises can realize with our platform. To dive into the research in detail, download the Total Economic Impact™ (TEI) of the Quantexa Decision Intelligence Platform today.
What’s in the study:
The following results are for a composite organization representative of interviewed customers.
Return on investment over 3 years
Benefits present value over 3 years
Payback period
The study provides a framework to estimate the total benefits enterprises may see over three years. See the three-year journey for a composite organization representative of interviewed customers using the Quantexa platform to enable multiple use cases from a single platform.
In addition to a 228% ROI, the composite enterprise achieved greater data management and operational efficiencies, reduced risk and improved compliance, incremental profit from improved customer intelligence, and cost savings from retiring legacy solutions. See how much organizations saved by reading the full study.
We have a more precise view of our client population which results in less time managing and cleaning data. So, we are operationally more efficient. We reduce false positives and enable more refined onboarding."
We will be able to decommission three legacy systems: one from a vendor and two that were custom-built. That will be $2 million in savings altogether, and that includes licensing and the cost of maintaining those systems in-house.”
We were able to build a cross-bank network in which banks not only have access to their own customer data, but also others. So, if you have all of it, you are much better able to identify fraud and other issues. We have been able to prevent and recover £16 million
We had all this data but it was very difficult for us to do entity resolution. We had lots of copies of customers called by different names. Quantexa helped us to have quality data.”
The power is in the resolved entity data. We reduce the risk of identified transactions and can find patterns of activity that were previously undetectable, so we are reducing our overall risk. We found 10 times the number of cases just in the pilot. It’s like a CT scan vs. an X-ray.”
We will be able to replace many – perhaps 40 or more – database instances that we no longer want to replicate the data. This will enable us to reduce the amount of infrastructure and human resources and monetize data assets.”