How do you measure and demonstrate the value and impact of blockchain and cloud computing projects?

Blockchain and cloud computing are two of the most disruptive and innovative technologies in the digital world. They offer new ways of storing, processing, and securing data across distributed networks. But how can you measure and demonstrate the value and impact of blockchain and cloud computing projects? In this article, we will explore some of the key metrics and methods that can help you evaluate and communicate the benefits and challenges of these technologies.

1 Business outcomes

The first step to measure and demonstrate the value and impact of blockchain and cloud computing projects is to define the business outcomes that you want to achieve. These could be related to cost savings, revenue generation, customer satisfaction, operational efficiency, or competitive advantage. You should also identify the key performance indicators (KPIs) that will help you track and quantify these outcomes. For example, you could measure the reduction of transaction fees, the increase of customer retention, the improvement of data quality, or the speed of service delivery.

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Bishal Dasgupta

Associate, Expert Consulting at McKinsey & Company | Tech Strategist + Financial Analyst
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Such projects can often result in improved business processes: quicker go to market, faster transaction times, reduced errors, improved security, increased transparency to name a few. These improvements should be measured towards determining value!

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Jason LoCascio

Toujours chercher pour choses nouvelle dans IT/Sempre alla ricerca di novità nell'IT
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! Measuring and demonstrating the value and impact of blockchain and cloud computing projects can be challenging, but here are a few potential ways to approach this: Quantitative metrics: One way to measure the value and impact of blockchain and cloud computing projects is to use quantitative metrics such as the number of transactions processed, the amount of data stored and processed, the reduction in operational costs or time, and the number of users or stakeholders involved. These metrics can help demonstrate the tangible benefits of the project and provide a basis for comparison with similar projects.

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2 Technical performance

The second step is to measure and demonstrate the technical performance of blockchain and cloud computing projects. This involves assessing the functionality, reliability, scalability, security, and interoperability of the systems and applications that you are using or developing. You should also monitor the resource consumption, latency, throughput, availability, and fault tolerance of the cloud and blockchain platforms that you are deploying or integrating. For example, you could measure the number of transactions per second, the response time, the uptime, or the encryption level.

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Jason LoCascio

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Qualitative metrics: Another way to measure the value and impact of blockchain and cloud computing projects is to use qualitative metrics such as user satisfaction, efficiency, and ease of use. These metrics can help demonstrate the intangible benefits of the project, such as improved user experience, enhanced trust and security, and better decision-making.

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3 User experience

The third step is to measure and demonstrate the user experience of blockchain and cloud computing projects. This involves collecting and analyzing feedback from the end users, customers, partners, or stakeholders that are interacting with or benefiting from the solutions that you are offering or implementing. You should also test and validate the usability, accessibility, functionality, and satisfaction of the user interfaces and interactions that you are designing or improving. For example, you could measure the net promoter score, the conversion rate, the error rate, or the satisfaction score.

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Jason LoCascio

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Case studies: Case studies can provide a detailed analysis of how the project has impacted specific stakeholders or use cases. Case studies can help demonstrate the value of the project in a real-world setting and provide evidence for potential stakeholders. Feedback from stakeholders: Collecting feedback from stakeholders, including end-users, developers, and project managers, can provide valuable insight into the value and impact of the project. This feedback can help identify areas for improvement and highlight the project's strengths.

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4 Social impact

The fourth step is to measure and demonstrate the social impact of blockchain and cloud computing projects. This involves evaluating and communicating the ethical, environmental, social, and governance aspects of the solutions that you are creating or adopting. You should also consider the potential risks, challenges, and opportunities that these technologies pose for the society, the economy, the environment, and the regulations. For example, you could measure the carbon footprint, the social inclusion, the transparency, or the compliance.

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5 Innovation potential

The fifth step is to measure and demonstrate the innovation potential of blockchain and cloud computing projects. This involves exploring and showcasing the creativity, originality, novelty, and value proposition of the solutions that you are developing or deploying. You should also identify and leverage the best practices, trends, standards, and frameworks that can help you innovate and differentiate your solutions from the competitors or alternatives. For example, you could measure the patentability, the market share, the customer loyalty, or the competitive edge.

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6 Value proposition

The sixth and final step is to measure and demonstrate the value proposition of blockchain and cloud computing projects. This involves synthesizing and presenting the results and insights that you have gathered from the previous steps in a clear, concise, and compelling way. You should also tailor and adapt your message and format to your target audience, context, and purpose. For example, you could use dashboards, reports, stories, or pitches to convey the value and impact of your solutions.

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Jason LoCascio

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Industry recognition: Industry recognition in the form of awards, media coverage, and partnerships can also help demonstrate the value and impact of the project. This recognition can help attract new stakeholders and provide evidence of the project's success.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you measure and demonstrate the value and impact of blockchain and cloud computing projects?

1

2

3

4

5

6

7

1 Business outcomes

2 Technical performance

3 User experience

4 Social impact

5 Innovation potential

6 Value proposition

7 Here’s what else to consider

Cloud Computing

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How do you measure and demonstrate the value and impact of blockchain and cloud computing projects?

1

2

3

4

5

6

7

1 Business outcomes

2 Technical performance

3 User experience

4 Social impact

5 Innovation potential

6 Value proposition

7 Here’s what else to consider

Cloud Computing

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