It’s the classic software dilemma: do we build software internally or do we buy a solution from a SaaS provider?

It’s a question enterprises ask themselves time and time again. Which is better? Building software internally that can be customized to your needs but is time and resource intensive? Or buying market-tested software that allows you to get up and running faster but isn’t proprietary to your business? We recently set out to answer this age-old question the best way we know how: with data.

Our recent national survey, The Data Chasers Challenge, brought to light the challenge we’ve been helping solve for years. Despite growing investments, most companies excel at data collection but fall short when it comes to turning that information into real action across their organization.

Not ones to be easily satisfied, we dug deeper to better understand the traits shared by the biggest culprits of data chasing. One of the biggest trends?

Those using software built in-house were more likely to report both wasted time and lack of action resulting from data efforts.

More specifically:

  • Those with in-house tools were more likely to say they waste time collecting and compiling data (36% vs 27%)
  • Those with in-house tools were more likely to manipulate data than those with purchased tools (59% vs 48%)
  • Managers at companies with in-house tools were more likely to make decisions counter to the data than those with purchased tools (55% vs 48%)

Beyond data-chasing and manipulation, in-house development poses several risks worth considering. While it may offer control over specifications, it’s also resource-intensive, requiring lots of time, a large budget, and pulling many of the company’s most highly technical team members off of other projects.

Today, commercially developed software can present a better alternative for companies looking to improve efficiency, accuracy, and overall business growth without the heightened risks. It’s crafted by industry experts, comes market-tested and configurable to industry devices and equipment, is packed with competitive support, and—perhaps most importantly—allows you to keep your team focused on bigger business objectives.

When the time comes to turn to software to improve your business, the first challenge you’ll face comes far before implementation—determining the development route that best fits your needs. If in-house development isn’t for you and you’re looking for a partner to help you tackle some of your biggest business challenges, we’d love to hear from you!

Interested in learning more about our Data Chasers Challenge? Download our infographic to see the results.