SaaS based Platform Development Helps a Research and Advisory Firm Automate the Benchmarking Analysis Process

Business Need

The research and advisory firm has to collect, process and offer benchmarking analysis covering different domains and functions across organizations. With large amount of data at their disposal, it was becoming difficult for them to manually analyze data and represent it to their members/subscribers across the globe. The process was not only time consuming but also prone to errors.

To accelerate their benchmarking analysis process and allow its members/subscribers across geographies to compare any set of data as and when needed, the client was looking to implement a SaaS application that could automate the complete benchmarking analysis process. The client reached out to Synoptek to implement an automated SaaS-based platform and help streamline the data management and benchmarking analysis process.

Solution and Approach

To meet the client’s requirement, Synoptek began the engagement by understanding existing pain points, carefully evaluating its data storage and analysis processes, and then making an assessment of the challenges.

As the client routinely collected vast amount of performance and operational data, both strategic and tactical, from their members through surveys, Synoptek built a data warehouse to streamline data storage first. The data warehouse imports all data from the client’s survey system and from membership records and other systems.

Synoptek then developed a SaaS-based benchmark analysis platform called ‘Command Center’ to generate dynamic analysis and insights using the data in the warehouse.

• The platform allows users to select a peer group of companies based on multiple criteria such as region, country, state, size, industry vertical, organization type, and so on.
• The user can filter and select the criteria for building a peer set that he/she can use for comparison.
• When a certain selection is made for a specific section of the survey, the screen shows whether there are adequate responses in the database to qualify for use in the benchmark analysis.
• The screen allows slider-based relaxation in the criteria set, if the number of responses are not meeting the minimum threshold.
• Once a user has selected the appropriate criteria combination, the peer set can be created, labeled and saved for the benchmark analysis. A user can create multiple such peer sets.

Business Results

With Synoptek’s benchmarking analysis platform, the research and advisory firm has been able to:

• Streamline the in-flow of data from multiple clients and channels.
• Identify opportunities for better allocation of budgets and resources.
• Accelerate the time taken to complete the benchmarking analysis process.
• Provide access to its members/subscribers across the globe to generate reports as and when needed.
• Enable all members/subscribers to leverage multiple visualization options to create engaging and intuitive reports and dashboards.