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New study shows how Teradata’s AI innovation and cloud analytics capabilities help drive profits, productivity improvements, and customer engagement
Teradata (NYSE: TDC) — Customers of Teradata’s ClearScape Analytics experienced increased profitability through a notable improvement in data scientist productivity, faster time-to-market, scaling of artificial intelligence/machine learning (AI/ML) model deployment, and more. Those were among the conclusions announced today in a Forrester Consulting Total Economic ImpactTM (TEI) study commissioned by Teradata.
The study, entitled “The Total Economic Impact™ of Teradata ClearScape Analytics™” explored findings gleaned through Forrester Consulting interviews with a North American healthcare organization with $5 billion in annual revenue and over 25,000 employees, and a ClearScape Analytics customer. Forrester then used the information to extrapolate and project a three-year financial analysis showing the 36-month, risk-adjusted present value (PV) benefits including the following:
Before using ClearScape Analytics, the healthcare organization interviewed for the TEI study said it faced difficulties in scaling its AI/ML models, and experienced problems around managing model drift, updating its feature banks and more. Because of these issues, the organization struggled to identify which AI/ML work would deliver real business value. Moreover, the organization could not run as many models as it would have liked as their data science team was at capacity and struggled to find ways to create new business value with AI/ML. Deploying ClearScape Analytics helped the company to mitigate these obstacles, provide better customer service, and halving the team’s work time. The company has now increased its data science team by 50%, tripled the number of models it was able to develop and deploy, and has freed up time to explore additional AI/ML use cases.
The Forrester study noted, “Investing in a solution like Teradata ClearScape Analytics is crucial for enterprises as it enables them to responsibly build and maintain machine learning (ML) models for their custom AI/ML solutions.”
“The important short- and long-term benefits cited in this study, as noted by our healthcare customer, can be experienced by companies across a broad spectrum of industries where there is a need for robust, open and connected AI/ML capabilities,” said Jacqueline Woods, Teradata’s Chief Marketing Officer. “ClearScape Analytics illuminates this transformative potential, not only delivering these capabilities at scale but also empowering organizations with unparalleled autonomy and seamless access to deliver near real-time insights and optimize business results.”
The study also identified additional benefits from ClearScape Analytics:
Forrester’s TEI methodology is designed to enhance technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.
For more information about Teradata or to obtain a copy of the TEI study, click here.
About Teradata
At Teradata, we believe that people thrive when empowered with trusted information. We offer the most complete cloud analytics and data platform for AI. By delivering harmonized data and trusted AI/ML, we enable more confident decision-making, unlock faster innovation, and drive the impactful business results organizations need most. See how at Teradata.com.
The Teradata logo is a trademark, and Teradata and ClearScape Analytics are registered trademarks of Teradata Corporation and/or its affiliates in the U.S. and worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229748591/en/
MEDIA CONTACTS January Machold 858-485-3049 office January.Machold@Teradata.com
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