Organizations at the moment stare down large challenges round attracting and retaining expertise, attaining organizational resiliency, defending in opposition to data loss, and supporting collaboration and innovation. Our clients are utilizing Stack Overflow for Groups to fulfill these challenges.
We all know from our customers’ stories that Stack Overflow for Groups is delivering worth: decreasing the time folks spend asking and answering questions, dismantling data silos, and rushing up the time-to-proficiency of recent workers. However how a lot worth does Stack Overflow for Groups ship, by way of financial influence, and on what timeline?
We commissioned the specialists at Forrester Consulting to assist us reply these questions, which they did in a brand new research, The Complete Financial Influence™ of Stack Overflow For Groups.
Key findings from the research
To reach at their evaluation of the prices and advantages of investing in Stack Overflow for Groups, Forrester interviewed 5 completely different organizations with expertise utilizing the platform. Forrester then aggregated interviewee experiences right into a single composite group for the needs of the research.
In the end, Forrester discovered that Stack Overflow delivered $14.42 million in advantages to the composite buyer over three years and prices $4.95 million over the identical time interval. This places the web current worth (NPV) of Stack Overflow for Groups simply shy of $9.5 million, with a return on funding (ROI) of 191%. Forrester quantified the advantages of Stack Overflow for Groups as follows:
- Time saved for workers who’re looking for info: $2.3 million
- Time saved for workers who present data to their friends: $9.5 million
- Accelerated time-to-proficiency for brand new hires: $2.6 million
Let’s dig a bit deeper into how Stack Overflow for Groups helped the composite notice these advantages, and let’s cowl the unquantified however still-meaningful advantages discovered within the Forrester research.
Time saved for workers looking for data
Earlier than Stack Overflow for Groups, builders and technologists burned time scouring data sources, instruments, and attempting to trace down the best material professional (SME) to reply their questions. With Stack Overflow for Groups, they can discover solutions to questions which have already been requested and answered. The power to entry and reuse this high-quality info saves vital time.
Forrester discovered that implementing Stack Overflow for Groups prompted the variety of questions builders ask their colleagues to drop by 65% in yr one and by 85% in yr three, because the data base grew and workers have been in a position to self-serve solutions to their questions. The time it took to seek out solutions decreased by 66%, amounting to $2.3 million in financial savings over three years for the composite group.
Time saved for workers offering data
When data isn’t preserved and made accessible for search and reuse, SMEs discover themselves answering the identical questions time and again, throughout emails, chat applications, and tagged feedback. The barrage of interruptions and fixed context-switching retains your most educated workers from specializing in their core tasks and makes them much less content material at work.
With Stack Overflow for Groups, Forrester discovered that the variety of questions requested of particular person builders dropped by 65% in yr one and 85% in yr three as a result of their friends have been in a position to reuse data that had been captured and preserved. The time saved provides as much as $9.5 million for the composite group over three years.
Quicker time-to-proficiency for brand new hires
Stack Overflow for Groups offers new workers a self-service platform the place they will simply entry content-rich data, perception, and expertise from their coworkers. Giving new hires the instruments to teach themselves with the data they want as they want it shortens the time-to-proficiency for these new hires. It additionally avoids imposing extra burdens on extra seasoned workers who may in any other case spend hours answering questions from their new coworkers.
As you may anticipate, this profit is particularly pronounced for entry-level and junior builders: for this group, Forrester discovered that Stack Overflow for Groups improves time-to-proficiency by 5% within the first yr and 9% within the third yr. Over three years, this implies $2.6 million in financial savings for the composite group.
Interviewees instructed Forrester that Stack Overflow for Groups “elevated collaboration and knowledge trade amongst builders” at their organizations, an enchancment that accelerated innovation and shortened time-to-market for brand new options.
This accelerated innovation is due largely to the communication, collaboration, and data sharing enabled by Stack Overflow for Groups. The Forrester research discovered that the platform “was a fundamental level of contact and data switch for colleagues unfold throughout completely different groups and geographies and who have been typically working remotely.” Interviewees reported that Stack Overflow for Groups made them really feel extra linked to their colleagues. Breaking down the data silos that inhibit collaboration and data trade permits organizations to ship extra worth to their clients extra shortly.
Improved worker expertise
The Forrester research reveals that workers of interviewed organizations are typically extremely happy with Stack Overflow for Groups. The platform’s excessive adoption charge is partly pushed by the truth that most builders are already snug with Stack Overflow’s public web site, the place they know they will discover high-quality data and solutions to particular questions. “Builders are used to the
public model,” explains one interviewee, a director of software program growth within the AI trade, “in order that made our adoption of Stack Overflow for Groups extra seamless. Our workers find it irresistible and there’s no actual cause to decide on one thing else—we all know the adoption would by no means ever be as quick.”
Implementing Stack Overflow for Groups makes builders’ working lives simpler and extra productive. This contributes to developer satisfaction at work, enhancing your means to draw and retain the most effective builders, and improves team and organizational resiliency. As well as, a data sharing and collaboration platform like Stack Overflow for Groups improves developer productiveness, fosters collaboration between people and groups, and offers workers entry to studying alternatives that not solely improve their job satisfaction but in addition empower them to pour extra worth again into your group.
To be taught extra concerning the financial influence of Stack Overflow for Groups, obtain the Forrester Consulting study, The Total Economic Impact™ of Stack Overflow for Teams.