About the Study:

Lifecycle Insights conducted the Heavy Equipment Quantitative Study, surveying over 392 respondents to understand the Heavy Equipment Industry from an SMB perspective. Additionally, the study aimed to validate existing knowledge about the HE SMB space and gain insights into executive behavior when considering solutions for implementation. Survey respondents mainly originated from the United States and represented the Heavy Equipment Industry.

Study Demographics:

The findings of this study were based on 392 respondents from the Heavy Equipment Industry.

Respondents’ company revenues varied widely, but most were under $10M (21%), $10M to $50m (17%), $50M to $100M (12%), $100M to $250M (11%), $250M to $1B (16%), $1B to $2B (13%) between $2B and $5B (8%), and over $5B (3%).

Methodology:

Lifecycle Insights employed its proven benchmarking methodology in this quantitative research study. This methodology includes:

  • the development of a neutral-language survey instrument that captures an accurate, impartial state of the industry for the given program’s scope using Lifecycle Insights’ best practices and library of questions;
  • the careful recruitment and screening of qualified respondents that represent the target stakeholders for this program’s parameters using Lifecycle Insights’ third-party partnerships;
  • the review, cleansing, and validation of respondent’s answers using Lifecycle Insights’ internal flagging system;
  • the explorative development of indices and cohort definitions to iteratively isolate correlated sets of performance and practices using Lifecycle Insights’ benchmark approach; and
  • the calculation, analysis, and group review of the study’s findings to vet and distill takeaways using Lifecycle Insights’ processes and procedures.