Forrester Total Economic Impact™ Study Quantifies Arria NLG Value Results show a 80% reduction in manual report generation labor and ROI of 209%
Morristown, NJ & London, UK
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June 22, 2022 09:20 AM Eastern Daylight Time
Arria NLG, the worldwide leader in natural language technologies, appeared in a Forrester Research report that found that organizations invested in Arria to reduce manual work, enable machine-level scaling, and facilitate the distribution of more efficient, accurate, and connected insights across their organizations.
The Total Economic Impact™ of Arria Natural Language Generation, authored by Forrester, details how Arria improved customer acquisition and retention, enabled a higher volume of business, or improved decision-making for each organization it interviewed.
Financial analysis found that the composite organization experiences benefits of $4.53 million over three years versus costs of $1.47 million, resulting in a net present value (NPV) of $3.06 million and an ROI of 209 percent.
“Arria’s NLG technology provides machine-speed analysis of large volumes of structured data and translates that data into natural language data insights,” said Sharon Daniels, CEO, Arria NLG. “The findings presented in Forrester’s research validate and quantify the value of natural language generation as well as Arria’s ability to foster data literacy, democratize analytics, and provide enterprises in all markets with the competitive advantage of access to insights.”
Arria identifies key insights and provides configurable, out-of-the-box narratives to communicate them to decisionmakers in real time, providing both automation and data literacy benefits for customers. By generating instantaneous data stories to augment dashboard views and visualizations at the click of a button, Arria eliminates a large portion of manual work previously undertaken by Business intelligence (BI) analysts.
According to Forrester, Arria NLG reduced the manual report generation labor by 80 percent, saving up to 60 percent in time spent by BI analysts and their supported decision-makers.
Furthermore, intelligent automation removes any risk of human error in reporting and written analyses, increasing annual revenue up to 2 percent. NLG produces data-driven narratives that ensure reporting accuracy and improve operational efficiencies.
“Data literacy is paramount and by streamlining the accuracy and democratization of data insights across organizations, Arria helps reduce the cost of creating strategic intelligence that everyone can access and action,” added Daniels.
For fund managers and financial advisors, Forrester estimates that Arria NLG reduces the manual resources required for written commentary by as much as 85 percent.
An executive director at a financial services company shared: “We analyze dozens of data points for thousands of companies. To be able to write a narrative summary every month for each one, we’d have to hire an army. We wouldn’t be able to scale that.”
Forrester noted that organizations also attributed new business to Arria’s ability to create a new type of product or service for external customers. Others were able to deliver their reporting and insights services faster or at a higher volume, improving the quality of service and creating additional revenue.
With global organizations managing ever-growing data streams, sifting through information, identifying key insights, and sharing them are critical but time-consuming and costly processes. Arria NLG is the innovative and transformative technology that businesses need to streamline processes, increase data literacy, and improve decision-making.
Arria’s technology will not only add value for employees, but also enhance processes, delight customers, and strengthen the bottom line.
Access the full Forrester Total Economic Impact study to learn more.
About Arria NLG
Arria NLG is the recognized global leader in the field of Natural Language Generation (NLG), a form of artificial intelligence specializing in extracting insights from complex data sources and communicating that information in natural language. Arria owns, develops, and licenses its core, patented NLG technologies via the Arria NLG Platform.
Connect with Arria on LinkedIn, follow us on Twitter, or visit us at www.arria.com.
Contact Details
Mostafa Razzak
JMRConnect: Shaping Influence® PR (for Arria)
+1 202-904-2048
