According to Customers, how do we measure how Innovative we are compared with our Competitors?
Micro Focus uses double-blind competitive benchmarking in order to gauge how well we are doing against the competition. This strategy means we can understand how we are performing with a high degree of statistical accuracy using a highly repeatable and scientific method. There are a number of customer lifecycle touchpoints and brand image attributes that are tracked, and ‘Continually leads in innovation’ is one of them.
How important as a Brand Image Attribute is ‘Continually leads in Innovation’?
Micro Focus, via Competitive Benchmarking and driver modelling, also knows that ‘Continually leads in innovation’ is one of the most important Image Attributes. This is important to realise since all touchpoints and brand image attributes contribute in some way to the overall ‘relationship’ metric with a company, and thus, using the right metric at the right time is not only important, but necessary (but that’s a topic for another time).
So how is Micro Focus ITOM performing against the competition in ‘Continually leads in innovation’?
The figure above presents the “Continually leads in innovation” top-two box satisfaction for each brand at the worldwide level for IT Operations Management. This percentage shows the number of customers responding with the top scores. A way of interpreting this is if there is a value of 50%, then 1 in 2 of customers thought they were providing strategic software with and 1 in 2 didn’t. On average, most software companies are not rated as being that innovative and so for Micro Focus to be second in the industry, out of 12 competitors, is a great feat indeed. Micro Focus is ranked 9% better than the average competitor in the industry and is 2nd out of all competitors with a top-two box satisfaction of 63%. When we compare against some of our competitors, we see that for being innovative, we are ranked 2% better than Microsoft (on 61%), 3% better than Broadcom, 5% better than IBM, 6% better than Splunk and 7% more innovative than ServiceNow.
Why is the Competitive Benchmark industry so reliable?
We do not know who the respondents are, and they themselves do not know that Micro Focus is sponsoring the study, and thus, this study has a dramatically lower bias than other surveys. We can safely say that the data analytics is performed at the 90% Confidence Level, which is unheard of in the industry. This means if any of our competitors performed the same study, they would have the same results. Couple these points with a data sample size of over 15,000 respondents per rolling quarter and we have a Benchmark that truly is indicative of the marketplace.