Organizations are increasingly turning to low-code platforms to accelerate application development. Low-code platforms provide a visual drag-and-drop approach to building applications. It is easy to create and deploy applications faster with less code than traditional methods. For many organizations, the ROI of low-code is clear: faster time to market, reduced development costs, and improved efficiency and productivity.
The below-mentioned steps will help you to get an idea about measuring the ROI of low code. In this article, we’ll explore some key metrics you can use to track the success of your low-code initiative.
There are several key metrics you can use to measure the ROI of low-code:
1. Time to market:
Low-code platforms can help you rapidly develop and deploy applications. The duration of the development is reduced to weeks or months. Traditionally, the application development time used to consider years or months. Measuring the time to market for low-code applications can give you a sense of how quickly your organization is able to turn ideas into reality.
2. Cost savings:
Low-code platforms can help you save on development costs by eliminating the need for costly hand-coding. By comparing the cost of developing low-code applications with the cost of traditional hand-coding methods, you can get a sense of the cost savings achieved through low-code.
3. Efficiency and productivity:
Low-code platforms can improve your organization’s efficiency and productivity by allowing non-technical users to build applications without needing to code. You can get insights into the efficiency of the applications once you track their development lifecycle. You can trace how quickly they’re built using the platform builder.
4. User satisfaction:
Low-code platforms can improve user satisfaction by providing a more intuitive way to build applications. You can measure user satisfaction by surveying users of low-code applications, and by tracking application usage metrics such as the number of active users and time spent using the application.
5. Business value:
Ultimately, the goal of any application development initiative is to generate business value. This can be measured in terms of increased revenue, reduced costs, or improved operational efficiency. By tracking business value metrics such as these, you can get a sense of how successful your low-code initiative is in achieving its goals.
How to Measure ROI
There are a number of different ways you can measure the ROI of low-code. One approach is to track the metrics described above over time and compare the results with traditional hand-coding methods. Irrespective of your approach, baseline plays an important role to create a successful application.
This will give you a point of comparison against which you can measure the success of your low-code initiative. Setting a baseline is beneficial for building a low-coded platform to get the expected success.
Cyberium Low-code platforms offer a number of benefits for organizations. This includes faster time to market, reduced development costs, and improved efficiency and productivity. By tracking key metrics, you can measure the ROI of your low-code initiative. You can ensure that it is delivering value to your organization. Low code platforms provide an excellent return on investment.