Overview
What is Gainsight Benchmarks w/ BenchSights?
Gainsight Benchmarks is a tool that enables customers to compare their post-sale performance to industry averages. This enables customers to identify areas of relative strength or weakness compared to companies of similar size, stage, industry, and avg. contract value. These industry averages and trends are derived from anonymized data from over 1,000 companies.
How does Gainsight Benchmarks work?
For each metric that is contributed or verified, a customer can see aggregated, anonymized benchmarks for that metric. Benchmarks can be filtered by or compared across company size, stage, average contract value and industry.
For example, after submitting your CSM Account Ratio, you can see how Account Ratios vary based on Annual Contract Value (ACV) or see percentiles for Account Ratios that only include certain ranges for ACV.
Is there a cost to use Gainsight Benchmarks?
Gainsight Benchmarks is available for customers at no additional cost.
How can customers participate in Gainsight Benchmarks?
All Gainsight customers may participate. Customers opt-in with their first use of the tool. Note that no other user will be able to see your specific data – in other words, your individual data remains completely confidential. Benchmarks are created based on aggregated statistics only.
If your organization would like to opt out of Gainsight Benchmarks, please email benchmarks@gainsight.com. Opting Out includes:
- Removal of your anonymized, aggregated data
- Loss of access to Gainsight Benchmarks
How are statistical outliers removed from the data set?
Extreme outliers are filtered out of the data set. Due to customer’s customizations and the varied nature of Gainsight implementations, some KPIs may still display large ranges of results.
Why are the benchmarks medians rather than averages?
Medians are generally the preferred way to model the mid-point benchmark because averages can be easily thrown off by just a few outlier numbers that are significantly different that the typical values. In cases where there are no outliers, the median is typically very close to or effectively equal to the average.
Data Security + Sourcing
Is my Gainsight Benchmarks data secure? Who else can see the data I provided?
To access the tool, a user must provide a specific unique identifier (UID) associated with their company. The UID is a randomly generated 36 character string. This UID can be found in your Gainsight instance or by asking your CSM or Support.
There is no way for a customer to access another customer’s data without this UID. There is also no mapping of the UID to PII or customer data in the tool.
All customers who submit data gain access to the aggregated, anonymized benchmarks.
Could someone filter down to individual companies to potentially confirm their identity?
No. The tool employs “minimum aggregation” rules – meaning benchmarks are only displayed for a requested metric/filter combination when a minimum number of members to the requested group exists. If a filter category includes fewer than 5 participants, the corresponding data is not shown.
Where does the data come from?
Data is sourced in two primary ways.
Pre-Populated Data to Be Validated by User
Some KPIs are pre-populated using high-level usage data from customer instances. This data is based on your setup and use of Gainsight systems. For example, we have estimated CSM to Account ratios based on account assignments in your instance of Gainsight. This data is then anonymized and aggregated to create the benchmarks.
For some customers, certain financial KPIs, ownership status, and segment information have also been pre-populated using publicly available data from third-party databases.
User-Submitted Data
Many KPIs are not pre-populated. Users must submit their data which then opens up access to the benchmarks and includes the data submitted in the aggregated, anonymized benchmarks.
How is the data used to create Gainsight Benchmarks?
Gainsight Benchmarks KPIs are based on usage data and user submissions. We take this data such as average number of accounts per CSM or average NPS score, anonymize it, aggregate and normalize it to create benchmarks.
How do I remove my organization’s anonymized data?
If your organization would like to opt out of Gainsight Benchmarks, please email benchmarks@gainsight.com. All requests are handled within two business days.
Opting Out includes:
- Removal of your anonymized, aggregated data
- Loss of access to Gainsight Benchmarks
Additional Questions
How many KPIs can I benchmark?
Customers get a total of 8 KPIs. Based on use and value of this tool, Gainsight will expand metrics to incorporate additional post sale KPIs.
What can I do if my data is not correct in Gainsight Benchmarks?
You can update any data point in Gainsight Benchmarks if it appears incorrect. The primary source of data is user submissions. In some cases, we’ve tried to estimate your KPI based on high level usage data from Gainsight.