Quantum Metric has published its new ‘Efficiency Index’, which offers an executive perspective on the cost-cutting challenges and opportunities facing digital teams in 2023.
The research found that the average digital team wastes two months a year on escalations that have no real impact on their business. Business leaders say that the top time wasters when trying to optimise for efficiency are determining what to prioritise (32%) and identifying the root cause of an issue (30%).
In the past 6 months, 41% of digital teams spent 2 weeks or more manually reproducing issues. Digital disruptions have prevented 51% of digital leaders from dedicating more than 25% of their weekly priorities to their product roadmap in the past 6 months.
Overall, 1 in 10 digital leaders aren’t confident their teams are working on the right things and 85% of leaders say new technologies and tech solutions, including generative AI and other guided analytics tools, are changing the way leaders foster digital expertise.
Efrat Ravid, Chief Marketing Officer at Quantum Metric, commented: “Economic crunches are pressuring digital teams across industries to be more efficient than ever before. Our report shows that to achieve that, the ability to quickly diagnose problems and prioritise their focus based on impact to the business and customer, are critical. It comes down to arming every member of the team with the right tools and digital expertise to move quickly. This not only minimises costs but also shifts digital team’s focus from simply reacting to challenges, to being proactive to customer needs. Our latest report is designed to be a guide. This, in turn, enables more opportunities to grow revenue, build loyalty and surprise and delight customers.”
Quantum Metric is a Continuous Product Design (CPD) platform for customer-driven digital experiences, which helps digital teams identify pain points so any issues can be prioritised and resolved in the most efficient way.
The full Efficiency Index, which acts as a guide for businesses on efficiency strategies that reduce costs and increase customer satisfaction, can be found here.
