Part 7: ROI
Calculate the return on investment for your insights engine.
An insights engine may seem like a big investment, but it can deliver a significant return on investment in the long run. Use this calculator to estimate your ROI and make the business case to launch a new insights engine.
The average knowledge worker saves between 30-120 minutes per week when they can quickly access insights and research via an insights engine. Use this calculator to estimate your insights engine ROI based on these time savings.
One of the biggest benefits of an insights engine is its ability to increase the reach of the insights your team produces. The more decision-makers are viewing and leveraging your insights, the more cost-effective your research contributions are. Use this calculator to estimate your ROI based on increased insights engagement.
Insights engine cost savings extend farther than you might think. Here are some additional ways an insights engine can help you save and increase the value of your research:
When insights teams become siloed across different lines of business, there’s a risk of duplicating primary research or purchasing secondary research that another group already owns. With an insights engine, team members can search across their organization’s entire research library so that they can see what is already available.
Many insights teams try to make do with a platform like SharePoint because it is what their organization is already using. However, SharePoint and similar status quo platforms aren’t purpose-built for insights management, and they can come with unexpected maintenance costs. Servers, back-ups, third-party add-ons, SQL licenses, and management tools can cost over $100k per year, while maintenance fees can add another $11k per year or more.
A modern insights platform, which allows you to add and update your content and the way it is structured without coding, eliminates many of the costs associated with an internal insights repository. There’s no need to worry about patches, upgrades, maintenance, integration requests, or security breaches.