How do you estimate the return on investment (ROI) of 3D scanning for your business or industry?

1 Define your objectives

Before you can calculate the ROI of 3D scanning, you need to define what you want to achieve with it. What are the problems or challenges that you want to solve or improve with 3D scanning? What are the opportunities or advantages that you want to create or enhance with 3D scanning? How do you measure the success or impact of your 3D scanning projects? For example, you might want to use 3D scanning to reduce production time, increase accuracy, save materials, create new products, or preserve cultural heritage. You need to identify the key performance indicators (KPIs) that reflect your objectives, such as time, quality, cost, revenue, or satisfaction.

2 Assess your current situation

Next, you need to assess your current situation without 3D scanning. How do you perform your tasks or processes without 3D scanning? What are the tools or methods that you use? What are the costs and benefits of your current approach? How do you compare to your competitors or industry standards? You need to collect data and information that show your current performance and results, such as hours, errors, waste, sales, or feedback. You also need to consider the risks or limitations of your current situation, such as inefficiency, inconsistency, obsolescence, or damage.

4 Calculate your ROI

Finally, you need to calculate your ROI of 3D scanning. ROI is a ratio that compares the net benefit (benefit minus cost) of an investment to the cost of the investment. To calculate the ROI of 3D scanning, you need to subtract the total cost of 3D scanning from the total benefit of 3D scanning, and then divide the result by the total cost of 3D scanning. You can express the ROI as a percentage or a multiple. For example, if the total cost of 3D scanning is $10,000 and the total benefit of 3D scanning is $15,000, the ROI is ($15,000 - $10,000) / $10,000 = 0.5 or 50%. This means that for every dollar invested in 3D scanning, you get $1.50 back.

5 Compare your ROI

To make a better decision about investing in 3D scanning, you need to compare your ROI of 3D scanning with other factors and criteria. For example, you might want to compare your ROI of 3D scanning with your budget, your expectations, your competitors, your industry, or your alternatives. You might also want to consider the payback period, the break-even point, the net present value, or the internal rate of return of your 3D scanning investment. These are different ways of measuring the profitability and feasibility of an investment over time and in relation to other investments.

6 Adjust your strategy

Based on your ROI analysis and comparison, you can adjust your strategy and plan for implementing 3D scanning in your business or industry. You can decide whether to invest in 3D scanning or not, how much to invest in 3D scanning, what kind of 3D scanning solution to choose, how to use 3D scanning effectively and efficiently, and how to monitor and improve your 3D scanning performance and results. You can also review and update your objectives, situation, alternatives, and ROI calculations as your needs and goals change over time.

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?