DataBench Virtual BenchLearning "Big Data - Benchmark your way to Excellent Business Performance"
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The document summarizes a webinar that presented benchmarks for measuring business impacts and key performance indicators from big data adoption, including quantitative and qualitative benchmarks by industry and company size based on surveys, with examples of top use cases and star performers.
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DataBench Virtual BenchLearning "Big Data - Benchmark your way to Excellent Business Performance"
- 1. Evidence Based Big Data Benchmarking to Improve Business Performance BENCHMARK YOUR WAY TO EXCELLENT BUSINESS PERFORMANCE DataBench Webinar – April 29 2020 Gabriella Cattaneo, Erica Spinoni, IDC
- 2. Today’s Program • Big Data Benchmarking : why it is relevant • Business KPIs • Benchmarks by industry • Benchmarks by company size • Star performers • Use cases and case studies • Next steps: benchmarking tool • Q&A 06-May-20 DataBench Project - GA Nr 780966 2
- 3. DataBench Indicators Framework 06-May-20 DataBench Project - GA Nr 780966 3 Source: D1.1 – Industry Requirements with benchmark metrics and KPIs (November 2019)
- 4. Data Sources 06-May-20 DataBench Project - GA Nr 780966 4 9.0% 4.8% 3.4% 2.7% 3.0% 8.5% 12.2% 9.0% 4.8% 7.8% 4.0% 8.2% 3.7% 9.0% 6.9% 2.9% DataBench survey Agriculture Banking Insurance Other financial services Business or professional services, excluding IT services IT services Healthcare Manufacturing process Manufacturing discrete Retail trade Wholesale trade Telecommunications Media Transport and logistics Utilities • 2018 CATI Survey in 11 EU MS of 700 organizations from 16 industries and 7 company size classes • 2019 2° wave survey of 30 organizations running Big Data pilots in H2020 ICT projects Source: IDC’s European DataBench Survey, October 2019 (N = 730)
- 5. Business Benchmarks Validation: 18 case studies 5 Agriculture Business / IT Services Financial Services Healthcare Manufacturing Retail & Wholesale Telecom/Media Transport and Logistics Utilities / Oil & Gas Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 6. Big Data Benchmarking : why it is relevant 06-May-20 DataBench Project - GA Nr 780966 6 DataBench business benchmarks are: Of industrial significance, because they apply to the actual and emerging needs of specific industries and specific company-size segments Of European economic significance, because they are measured for all the relevant European industries and company-size segments in which Big Data can have the highest impacts Useful for linking technical and business performance because they are measure for the main use cases
- 7. 8 KPIs to measure Big Data Business Impacts 06-May-20 DataBench Project - GA Nr 780966 7 KPI Definition Metrics Revenues increase Increase in company revenues thanks to the adoption of BDA Benchmark: % increase measured as median of the sample Profit increase Increase in company profit thanks to the adoption of BDA Cost reduction Reduction in process costs thanks to the introduction of BDA Time efficiency Efficient use of time in business processes Benchmark: average rating on a scale of 1–5 based on the following ratings: • Less than 5% improvement = 1 • 5–9% = 2 • 10–24% = 3 • 25–49% = 4 • 50% or more = 5 Product/Service quality Product/Service features corresponding to users’ implied or stated needs and impacting their satisfaction Customer satisfaction A measure of customers’ positive or negative feeling about a product or service compared with their expectations New Products/ Services launched A measure of the number of new products and/or services enabled by data-driven innovation and launched by the company after engaging in the Big Data investment Business model innovation Novel ways of mediating between companies' product and economic value creation (for example, moving from traditional sales to service subscription models) Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 8. Quantitative Benchmarks by Industry 06-May-20 DataBench Project - GA Nr 780966 8* N.B. Average response 6.0% 6.0% 6.0% 6.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 4.0% 4.0% 5.0% 5.0% 5.0% 3.5% 4.0% 4.0% 3.0% 3.0% 3.0% 4.0% 4.0% 3.0% Cost ReductionRevenue IncreaseProfit Increase Agriculture Financial Services Healthcare Manufacturing Business/IT Services Retail & Wholesale Telecom & Media Transport & Logistics Utilities, Oil & Gas Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 9. Qualitative Benchmarks by Industry 06-May-20 DataBench Project - GA Nr 780966 9 Agriculture Median 2 Median 3 Median 4 5% – 9% Improvement 10% – 24% Improvement 25% – 49% Improvement Financial Services Healthcare Retail & Wholesale Manufacturing Business/IT Services Telecom & Media Transportation & Logistics Utilities, Oil & Gas Time Efficiency Product/Service Quality Customer Satisfaction Biz Model Innovation # of New Product/Service Launched Time Efficiency Product/Service Quality Biz Model Innovation # of New Product/Service Launched Customer Satisfaction Time Efficiency Product/Service Quality Biz Model Innovation # of New Product/Service Launched Customer Satisfaction Biz Model Innovation Time Efficiency Product/Service Quality # of New Product/Service Launched Customer Satisfaction Product/Service Quality Customer Satisfaction Time Efficiency Biz Model Innovation # of New Product/Service Launched Product/Service Quality Customer Satisfaction Time Efficiency Biz Model Innovation # of New Product/Service Launched Biz Model Innovation Product/Service Quality Customer Satisfaction Time Efficiency # of New Product/Service Launched Time Efficiency Product/Service Quality Biz Model Innovation # of New Product/Service Launched Customer Satisfaction Time Efficiency Biz Model Innovation Product/Service Quality Customer Satisfaction # of New Product/Service Launched Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 10. Top 3 Use Cases Quantitative Benchmarks by Industry (1/2) 06-May-20 DataBench Project - GA Nr 780966 10 6.0% 5.0% 5.0% 5.0% 2.0% 4.0% 3.0% 3.0% 3.0% Precision Agriculture Yield Monitoring & Prediction Predictive Maintenance Agriculture Profit Increase Revenue Increase Cost Reduction Financial Services 5.0% 6.0% 6.0% 4.5% 5.5% 4.0% 4.0% 4.0% 3.5% Fraud Prevention & Detection Customer Profiling, targeting, optimization of offers Customer Scoring and/or Churn Mitigation Business/IT Services 6.0% 7.0% 5.0% 5.0% 6.0% 4.5% 3.0% 4.0% 4.0% Customer Profiling, targeting, optimization of offers Risk Exposure Assessment New Product Development Healthcare 5.0% 5.0% 4.0% 5.0% 4.5% 4.0% 4.0% 3.5% 4.0% Fraud Prevention & Detection Quality of Care Optimization Regulatory Intelligence Manufacturing 5.0% 4.0% 5.0% 4.5% 4.5% 4.5% 3.0% 4.0% 3.5% New Product Development Predictive Maintenance Supply Chain Optimization Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 11. Top 3 Use Cases Quantitative Benchmarks by Industry (2/2) 06-May-20 DataBench Project - GA Nr 780966 11 5.5% 5.0% 5.0% 4.5% 5.0% 5.0% 4.0% 4.0% 3.5% Price Optimization New Product Development Supply Chain Optimization Retail & Wholesale Profit Increase Revenue Increase Cost Reduction Telecom & Media 6.0% 6.0% 5.5% 5.0% 5.0% 4.0% 4.0% 4.0% 3.0% Customer Profiling, Targeting & Optimization of Offers Automated Customer Service Product & Service Recommendation Systems Transport & Logistics 5.0% 6.0% 5.0% 5.0% 5.0% 4.5% 3.0% 3.0% 3.0% Inventory & Service Parts Optimization Price Optimization Logistics & Package Delivery Management Utilities, Oil & Gas 5.0% 5.0% 5.0% 5.0% 3.5% 4.0% 4.0% 3.0% 3.5% Regulatory Intelligence Predictive Maintenance Risk Exposure Assessment Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 12. Retail, a promising increase in profits 06-May-20 DataBench Project - GA Nr 780966 12 Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 13. Quantitative Benchmarks by Company Size 06-May-20 DataBench Project - GA Nr 780966 13 Cost ReductionRevenue IncreaseProfit Increase 6.0% 5.0% 5.0% 5.0% 6.0% 5.0% 4.0% 4.0% 5.0% 5.0% 4.0% 3.5% 3.0% 3.0% 4.0% 10 – 49 Employees 50 – 249 Employees 250 – 499 Employees 500 – 999 Employees 1,000+ Employees Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 14. Qualitative Benchmarks by Company Size 06-May-20 DataBench Project - GA Nr 780966 14 Median 2 Median 3 Median 4 5% – 9% Improvement 10% – 24% Improvement 25% – 49% Improvement 10 – 49 Employees 50 – 249 Employees 250 – 499 Employees 500 – 999 Employees 1,000+ Employees Time Efficiency Product/Service Quality Customer Satisfaction Biz Model Innovation # of New Product/Service Launched # of New Product/Service Launched Biz Model Innovation Time Efficiency Product/Service Quality Customer Satisfaction Time Efficiency Product/Service Quality Biz Model Innovation # of New Product/Service Launched Customer Satisfaction Product/Service Quality Time Efficiency Biz Model Innovation # of New Product/Service Launched Customer Satisfaction Customer Satisfaction Product/Service Quality Biz Model Innovation Time Efficiency # of New Product/Service Launched Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 15. Top 3 Use Cases Quantitative Benchmarks by Company Size 06-May-20 DataBench Project - GA Nr 780966 15 5.0% 5.0% 7.0% 4.0% 4.0% 5.0% 5.0% 3.0% 3.5% New Product Development Price Optimization Risk Exposure Assessment 10 – 49 Employees Profit Increase Revenue Increase Cost Reduction 50 – 249 Employees 3.5% 3.0% 3.0% 4.0% 4.0% 4.0% 4.0% 4.0% 3.0% Price Optimization Risk Exposure Assessment Regulatory Intelligence 250 – 499 Employees 5.0% 5.0% 4.0% 4.0% 4.0% 5.0% 3.0% 3.0% 4.0% New Product Development Risk Exposure Assessment Regulatory Intelligence 500 – 999 Employees 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 3.0% 3.0% 3.0% New Product Development Price Optimization Risk Exposure Assessment 1,000+ Employees 5.0% 6.0% 6.0% 5.0% 5.0% 5.0% 4.0% 4.0% 4.0% New Product Development Regulatory Intelligence Customer Profiling, Targeting & Optimization of Offers Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 16. Star Performers 06-May-20 DataBench Project - GA Nr 780966 16 Mainly from the leading industries: Retail & Wholesale & Business/IT Services Who are they? • Enterprises currently Using BDA Technologies • Who achieved High Level of Benefit • Only 36 cases: 5% of the sample 17% 11% 19% 53% SMEs Medium-Sized Enterprises Large Enterprises Very Large Enterprises Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 17. Star Performers Results 06-May-20 DataBench Project - GA Nr 780966 17 Quantitative Benchmarks Qualitative Benchmarks* 8% 8% 4% 5% 4% 3% 5% 5% 3% Profit Increase Revenue Increase Cost Reduction 56% 58% 61% 28% 37% 37% Time Efficiency Product/Service Quality Customer Satisfaction Star Performers Others Top achievements for 3 KPIs: * N.B: Please note that this chart displays only High level of Improvements (> 25%) Source: D2.4 – Benchmarks of European and Industrial Significance (December 2019)
- 18. You can benchmark your performance through the self- assessment survey on the DataBench website www.databench.eu 06-May-20 DataBench Project - GA Nr 780966 18 Source: DataBench website (screenshot)
- 19. You can find the «Benchmarks» report on the DataBench website 06-May-20 DataBench Project - GA Nr 780966 19 Source: DataBench website (screenshot)
- 20. The self- assessment tool and more benchmarking services will be available on the DataBench Toolbox 06-May-20 DataBench Project - GA Nr 780966 20 Source: DataBench website (screenshot)
- 21. Questions and Answers 06-May-20 DataBench Project - GA Nr 780966 21 Contacts • Richard Stevens, RD, IDC European Government Consulting, DataBench Project Manager • Gabriella Cattaneo, AVP IDC European Government Consulting - gcattaneo@idc.com • Erica Spinoni, IDC EMEA Research Analyst – espinoni@idc.com