NEW YORK, Jan. 12, 2015 /PRNewswire/ -- NRF Annual Convention & EXPO -- A Total Economic Impact study conducted by Forrester Consulting on behalf of Teradata found that the Teradata Aster Discovery Platform is delivering compelling economic and technology Return on Investment (ROI) as well as important business and marketing benefits for an online flash sale retailer. The study was based on a Teradata retail customer with over five years of experience using the Aster Discovery Platform to implement a big data analytics and discovery solution.
The retailer's platform enabled the organization to streamline fragmented data, reduce costs of hiring technical resources, and increase the time to business insights. The unique technology also facilitated tight integration with its other systems and alignment with cloud strategy. The study was commissioned by Teradata Corp. (NYSE: TDC), the big data analytics and marketing applications company.
Teradata Aster Discovery Platform is a big data analytics and data discovery solution that enables companies to derive high-impact business insights from big data. The study found that by using the Aster platform, the retailer realized the following benefits across its business, marketing, and technology processes:
- A Return on Investment of 106 percent with a payback period of 13.9 months, and a total three-year benefit value of $6.1 million
- An increase in prospect conversion resulting in direct impact to bottom-line profits
- Increased savings from IT and end user productivity
- Lift in sales from increased marketing efficiency
- Ease of deploying the system into its environment
- An increase in IT and end user productivity
- Higher yield from its marketing dollars from important new insights*
*The Teradata Aster portfolio delivers deep insight in cases such as social network and influencer analysis, customer churn, behavioral analysis, path to purchase, fraud, financial analysis, and personalized recommendations.
Prior to implementing the Teradata Aster Discovery Platform, the customer was using a third-party website for all its reporting, analytics, and operational needs. They collected significant clickstream logs about interactions, but did not have the capability to process these and derive insights to make its business model more efficient. They were also quickly finding out that writing MapReduce code for every business query was not really going to provide the scalability it required. With a limited IT support staff, there were few resources to analyze customer data. In looking for a vendor, the company chose the Aster Discovery Platform for the following reasons:
- It has the ability to data model, warehouse, and work with unstructured data.
- It can reduce labor costs via more readily available skill sets to manage the platform.
- It has visual tools to help drive key business insights and improve marketing efficiency.
"We believe that this study reflects key metrics that companies can expect when they implement the Teradata Aster Discovery Platform," said Scott Gnau, president, Teradata Labs. "The innovative design and performance of the Aster Discovery Platform delivers continuous returns to its business users by reducing complexity, revealing new insights and executing on opportunities with powerful analytic tools."
The innovations in the Aster Discovery Platform include Teradata Aster SQL-GR™, a graph engine, and the Teradata SNAP Framework™ (Teradata Aster Seamless Network Analytic Processing Framework™). Teradata's revolutionary SNAP Framework enables users to snap together multiple analytic engines and file stores with ease, providing them with unmatched power and speed to delve deeply into data.
Forrester employed four fundamental elements of total economic impact (TEI) in modeling Teradata Aster Discovery Platform's service: benefits, costs, flexibility, and risks. Given the increasing sophistication that enterprises have regarding ROI analyses related to IT investments, Forrester's TEI methodology serves to provide a complete picture of the total economic impact of purchase decisions. The report includes a full analysis of all costs, risks, and results.
Today's announcement was made at the National Retail Federation Annual Convention & EXPO, NRF's flagship industry event held annually in New York City. Visit Teradata's NRF exhibit and consultants in Booth 3352. Teradata Retail Solutions consultants have proven expertise in the retail data-driven enterprise and work with leading consumer goods companies as well.
Relevant News Links
- The Total Economic Impact™ of Teradata Aster Discovery Platform – Forrester report
- Teradata Aster Discovery Platform Liberates Data Scientists Around the World
- Teradata Establishes Trust in Big Data Technology – Analyst Report on Teradata solutions
- Teradata Unified Data Architecture - Give any user any analytic on any data, anytime
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