Hello everyone. Micro Focus measures customer perception using a double-blind competitive benchmark* (for background, please see pages 49-51 of this report). Each quarter, we release our results internally, but for CyberRes at Micro Focus, in FY23’RQ1, we decided to detail one aspect of them externally. Competitive benchmarking is important because it allows a company to understand and measure its performance relative to its competitors. This information can be used to identify areas where the company excels and areas where it needs to improve. Additionally, benchmarking allows a company to stay current with industry trends and best practices, which can help it to remain competitive in the marketplace. By comparing their own performance against other companies, organizations can make data-driven decisions to improve, allocate resources, measure their progress, and set realistic goal to achieve.
Micro Focus CyberRes is a Leader in the Installation Experience
According to Customers, how do we measure how we perform at Installation compared with our competitors? Micro Focus uses double-blind competitive benchmarking 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 several customer lifecycle touchpoints and brand image attributes that are tracked, and ‘Installation’ is one of them. Installation is defined as ‘Your experience with making the product/service operational.’
How important as a Touchpoint is the Installation experience to customers?
Micro Focus, via Competitive Benchmarking and driver modelling, also knows that ‘Installation’ is an important touchpoint. This is important to realize since all transactional touchpoints contribute in some way to the overall ‘relationship’ with a company, and thus, using the right metric at the right time is not only important, but necessary. In fact, ‘installation’ provides ~7% of the reason that customers gave the double-blind NPS that they did within the security (software) industry.
So how does the ‘installation experience’ at Micro Focus CyberRes compare with the competition?
Micro Focus CyberRes is rated being first out of 14 competitors, is 1% ahead of the nearest competitor, and is 8% ahead of the average competitor.
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, the research has dramatically lower bias than other surveys. We can also 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.
About the data source*
In FY23’RQ1, Security had 170 responses from Micro Focus customers and 2,975 responses from our customers of our competitors. Thus, we had a total sample size of 3.145. The Competitive Benchmark Research is owned and orchestrated by Micro Focus, conducted by a third party, is double blind, and has over 15,000 respondents per rolling quarter. These facts make the benchmark both industry defensible and as free from bias as customer research possibly can be. The subsequent analysis by Micro Focus is equally rigorous, scientific, and repeatable, and provides reliable worldwide, and pan-portfolio, customer loyalty insights.
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