Something my former data analytics professor said has always stuck with me: "In God we trust. Show me data for the rest."

It is not an overstatement to say that, with the right data at hand, miracles can really happen. Especially for organizations using data-driven strategies, such as software rationalization, to realize greater returns on investment (ROI) and IT cost savings.

We have seen it time and time again with our Lakeside customers. By digging deep into the data to identify unused or underutilized apps, organizations can save up to thousands — or even millions — in unnecessary software expenditures.

A global bank, for instance, saved $4.8 million in 12 months after identifying an application they had over 66,000 licenses for that was going unused.

Often our customers find that once they have the visibility needed to inform these decisions, they are able to validate with data what their IT department may have already suspected — large numbers of expensive shelfware.

As the IT operations manager at a financial institution expressed, “Every time we went to the business to ask if we could reduce licenses, all they said was ‘We’re always using the software. We’re not going to reduce licenses.'” Once the team implemented digital experience management, however, they uncovered that many of the licenses were in fact going unused. By undergoing a rationalization process, they were able to realize 19x ROI on their investment with Lakeside.

As these stories show: It all starts with data.