In today's fast-paced business environment, effective sales analytics are essential for success. Companies frequently encounter a crucial decision: Should they develop a custom in-house solution or invest in a ready-made analytics platform like Dear Lucy? The answer hinges on various factors, including time to value, total cost of ownership, maintenance, features and functionality, and the level of expertise available.
Time to Value
When building an analytics solution from scratch, time is a crucial consideration. Developing custom dashboards, setting up integrations, and fine-tuning the system to meet specific needs can take months, if not longer. Every minute spent in development is time the company isn't benefiting from actionable insights.
On the other hand, a ready-made solution like Dear Lucy delivers value immediately. With pre-built dashboards, real-time integrations, and proven templates, businesses can start using insights almost instantly. This rapid time to value allows companies to make data-driven decisions without delay, which can be especially crucial in fast-moving markets.
“Dear Lucy is one of the easiest tools I’ve ever integrated and implemented”
- Andreas Sjölund, CRO, Ingrid
Sales Analytics: Build vs. Buy Timeline Comparison
Total Cost of Ownership
The initial costs of building an in-house solution can seem appealing at first, but the true cost often comes later. Beyond the development phase, companies must budget for ongoing updates, troubleshooting, and technical resources to keep the system running. These hidden costs can add up significantly over time.
By contrast, when you invest in an existing solution like Dear Lucy, you get an all-in-one platform where updates, support, and scalability are part of the package. The predictable pricing structure ensures there are no surprises down the road, and you're able to focus on interpreting the data rather than maintaining the system.
Maintenance
A custom-built analytics system requires constant maintenance to stay operational and up-to-date. Bug fixes, updates, and changes to external data sources can demand continuous attention from IT staff. For many companies, this can become a costly and distracting burden.
Dear Lucy eliminates this problem by offering a solution that is maintained by experts in the field. Regular updates, security patches, and new features are handled behind the scenes, allowing you to focus solely on what matters—using the data to drive sales performance.
Features and Functionality
One of the biggest arguments for building a custom system is that it can be tailored exactly to a company's unique needs. While this might sound appealing, it often leads to feature bloat or missing critical functionality due to resource limitations. Additionally, it may take months, if not years, for an internal team to develop the same level of sophistication offered by a mature solution.
With Dear Lucy, you’re not only getting cutting-edge sales analytics, but you’re also tapping into years of refinement and feature development based on industry best practices. Dear Lucy includes a comprehensive suite of tools, from advanced forecasting to real-time sales tracking, designed specifically to boost sales efficiency. These features are tested and proven, meaning you don't need to reinvent the wheel.
Knowledge and Expertise
Building a sales analytics platform in-house requires deep knowledge not just of sales data but also of the technologies and methodologies behind effective analytics. Even if you have in-house talent, there's always a learning curve, and in some cases, expertise in sales analytics is not readily available internally. Additionally, continuous training is essential to keep the team updated on evolving best practices and tools, further straining resources and time.
A platform like Dear Lucy doesn’t just offer software—it comes backed by a team of experts in sales performance and analytics. This means you’re not only adopting a product but gaining access to industry-specific knowledge and best practices. With Dear Lucy's cutting-edge expertise available, companies can ensure a quick adoption of new functionalities. You’ll benefit from years of specialized experience and know-how, shortening the time to insights and decision-making.
Sales Analytics: Build vs. Buy Decision Overview
Evaluate Sales Analytics Costs: Build vs. Buy
When evaluating the costs of building a custom sales analytics solution versus purchasing an established platform like Dear Lucy, it’s important to consider all associated expenses. While building in-house may initially seem cost-effective, hidden costs such as maintenance, staffing, and ongoing development can quickly add up. On the other hand, Dear Lucy offers a streamlined subscription model that covers setup, training, and continuous updates. The following breakdown highlights key cost differences between the two approaches, allowing you to make an informed decision based on your company’s needs and budget.
Sales Analytics: Build vs. Buy Cost Breakdown
Conclusion: Choosing the Right Path
Both options—building and buying—have their pros and cons. Building an in-house sales analytics system might be ideal for organizations with very specific, complex needs and the resources to match. However, for most businesses, the time, cost, and expertise required to maintain a custom solution far outweigh the benefits.
Investing in an existing platform like Dear Lucy provides a quicker time to value, lower total cost of ownership, and access to best-in-class features without the hassle of ongoing maintenance. The platform's expert backing ensures your sales analytics are always up to date and optimized for maximum performance, enabling you to focus on what matters most: driving sales.
Interested?
Dear Lucy offers AI Powered Sales Analytics across sales solutions like Salesforce, Microsoft, HubSpot and Pipedrive. Book a session with our expert to learn more!