With Dataminr's real-time AI platform for risk and event detection, Dataminr Pulse customers can achieve a payback period of less than six months
NEW YORK, March 14, 2022 /PRNewswire/ -- Dataminr, the leading real-time information discovery platform, today released a commissioned study conducted by Forrester Consulting on the Total Economic Impact™ of use of Dataminr Pulse by corporate security teams. Dataminr Pulse helps enterprises avoid business disruption and mitigate corporate security threats by alerting users to incidents and emerging business risks far ahead of traditional information sources. By enabling corporate security customers to know first, and react faster to events, Dataminr Pulse enables businesses to limit the cost associated with being unprepared, ultimately reducing the magnitude of business risks.The study revealed that Dataminr's corporate security customers can realize an ROI of 421% over three years and a payback period of less than six months.
To gain insight into the financial impact, business benefit and risk for businesses to deploy Dataminr Pulse to corporate security teams, Forrester Consulting developed a comprehensive framework to evaluate value to customers. This included interviews with corporate security decision-makers at global, multibillion-dollar organizations with experience using Dataminr, including both organizations with mature corporate security functions as well as those ramping up their corporate security organization for the first time.
"Due to an increasingly complex and challenging world, unexpected events are on the rise that put physical assets and employees at risk, disrupt business operations, reduce employee productivity and affect the perceptions of customers and employees. We believe the key findings of this Forrester study demonstrate the significant distinct value Dataminr has provided to corporate security teams when they face an exponentially growing set of real time risks," said Jason Edelboim, President and COO of Dataminr.
Forrester Consulting identified five quantifiable business benefits that drive ROI for Dataminr's corporate customers:
- Minimized or Avoided Business Disruption. Dataminr Pulse enables enterprises to avoid business disruption or minimize the impact of disruption, which safeguards their productivity and revenue generation. This business continuity-focused benefit accounts for one-third of total economic benefits.
- Avoided Corporate Security Labor and Reduced Software Costs. Dataminr Pulse allows security teams to be more efficient by reducing the labor and other software costs associated with running modern security teams, helping them do more with less. This accounts for one-third of total economic benefits.
- Reduced or Avoided Reputational Damage. Dataminr Pulse have enabled corporate security customers to avoid or reduce reputational damage from crises or critical events by working cross-functionally to act sooner and communicate better with their employees, customers and the public.
- Reduced Duplicative or Unnecessary Efforts. By receiving alerts on incidents more than an hour before other sources, corporate security teams relying on Dataminr Pulse can develop an action plan and notify key internal leaders of the actions being taken, thus reducing duplicative actions by others or actions by others that would not be beneficial.
- Avoided Labor to Ensure Coverage of Emerging Markets. Dataminr provides security teams with visibility in geographic areas with otherwise limited information, like emerging global markets. This enables organizations to be more efficient by avoiding the labor costs associated with manually gathering localized information across the globe.
In addition to identifying the above set of quantifiable benefits for corporations, the study found significant, unquantifiable benefits for Dataminr Pulse that are core to the mandate of corporate security teams. Most notably, this study found that Dataminr Pulse significantly enhances the ability for corporations to protect employees, customers, and workers and save lives. Critical unquantifiable benefits such as these help corporations maintain an employee-first reputation and attract and retain the best talent.
With more than two-thirds of the Fortune 50 and half of the Fortune 100 as customers, Dataminr Pulse has gained rapid adoption across the corporate enterprise – spanning teams focused on corporate security, as well as those focused on reputation risk and crisis management, cyber threat detection and business intelligence. Numerous corporate enterprises that leverage Dataminr Pulse across multiple internal teams are achieving broader value than analyzed in this corporate security focused study.
In this study, Forrester interviewed decision-makers from five companies with experience using Dataminr. For the purposes of this study, Forrester aggregated the interviewees' experiences and combined the results into a single composite organization. This study examined the potential return on investment (ROI) enterprises may realize by deploying Dataminr. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Dataminr on their organizations.
To learn more about Forrester's Total Economic Impact™ of Dataminr study, please visit here.
Dataminr delivers the earliest warnings on high impact events and critical information far in advance of other sources. Recognized as one of the world's leading AI businesses, Dataminr enables faster response, more effective risk mitigation and stronger crisis management for public and private sector organizations spanning global corporations, first responders, NGOs, and newsrooms. Recently valued at $4.1B, Dataminr is one of New York's top private technology companies, with 900+ employees across eight global offices.
Since its founding in 2009, Dataminr has created the world's leading real-time information discovery platform, which detects digital patterns of emerging events and critical information from public data signals. Today, Dataminr's leading AI platform performs trillions of daily computations across billions of public data inputs from over 250,000 unique public data sources. The company has been recognized for its groundbreaking AI platform and rapid revenue growth by Forbes AI 50 and Deloitte Fast 500, and has been named to Forbes Cloud 100 for five consecutive years.
Alongside Dataminr's corporate product, Dataminr Pulse, the company provides public sector organizations with its First Alert product for first response, including the United Nations, which relies on First Alert in over 100 countries. Dataminr for News is used by more than 650 newsrooms and by over 30,000 journalists worldwide.
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