Big data is one of the most important issues companies are trying to get their arms around. Every company has a wealth of data at their fingertips, but employees often lack the know how and tools to turn information into intelligence.
So what’s at stake? For resellers and distributors, quite simply, it’s the customer relationship. Do they want to be vendors or partners? Hint: There should be only one answer to this question.
Resellers and distributors who help their customers gain control of big data mayhem will find that they create the opportunity for significant financial margin, while differentiating themselves from competitors who focus exclusively on the IT sale. And the opportunity is boundless: IDC says the big data market will reach $16.1 billion in 2014 alone, with services accounting for 29% of all sales.
So what is big data? It is the unstructured information about company processes, customers, and businesses that’s buried in organizational silos and databases. It’s data that’s housed on employee phones, computers, and drives. It’s information that’s gathered by CRM and marketing automation and analytics tools. And it’s data that’s purchased from third-party vendors who aggregate public records, web searches, transactions, and more to create rich digital composites of individuals.
Data, data everywhere
These enormous data sets tell a powerful story about companies and customers – what they actually do versus what they say they need.
Why is that important? Every sales professional worth their commission check knows that there is often a major gap between customers’ perceived needs and their actual behavior. As a consequence, companies make important strategic decisions based on information that’s part art and part science. Even a single major incorrect assumption or error can wreak havoc on a company’s revenues.
Resellers and distributors that help their customers collect, manipulate, and manage big data will become their true partners. Read how one reseller used big data to identify and shape a strategic opportunity for maintaining the IT hardware and software of one of the world’s leading financial publishers.
In the thought leadership article, “Big Data and the Creative Destruction of Today’s Business Models,” A.T. Kearney says that those companies that harness big data:
- Strengthen customer intimacy by creating solution sets targeted to individual needs, customizing offerings in real-time, and creating quick-response strategies for saving at-risk accounts
- Innovate products by using social media and crowdsourcing to inform R&D; test and refine product offerings in real-time; and package data analytics as a service in their own right
- Transform operations by using big data to streamline the supply chain, optimize inventory and retail distribution, and manage solution performance and maintenance requirements
While companies are in the early days of harnessing the power of big data, companies will join market leaders such as Amazon, Netflix, and others in making in-the-moment offers that have high conversion rates because they are so precisely targeted.
Just like its name implies, big data takes some sizeable effort to master. Aureus Insights says most big data projects take 18 months start to finish.
Don’t be daunted. You can add immediate value by helping companies master their enterprise asset data. Help your customers deploy SaaS portals that enable them to move from tracking and controlling enterprise assets to transforming critical management processes – a process that can take as little as a few months to achieve.
When you implement an enterprise asset SaaS solution yourself, you can identify emerging opportunities, manage your sales pipeline, and automate key processes like renewal quoting. It’s easy to see that big data equals a big opportunity.
The decision is now: Become a big data master and conquer your competitors. Contact us at 561.869.4399 or firstname.lastname@example.org to learn how.
- Request a copy of our white paper: Beyond the IT Sale: How Enterprising VARs and Distributors Are Using SaaS Solutions to Help Customers Solve IT Asset Management Challenges, While Generating New Streams of Recurring Revenue
- Contact us at 561.869.4399 x1137 or visit us at managedmaint.com for more information.