Happy New Year and all the best for strong growth in 2015! There are a few exciting pieces of news from our perspective that Id like to share with you.
Latest In Data & Analytics
This month's Data Snapshot looks at the estimated size of the safety products market.
As we enter 2015, its important for business leaders to do more than just make resolutions to do things better. Instead, they need to take a strategic, purposeful approach to growth in the new year.Here are three key ways you can increase sales and profitability in 2015.
Data helps tell a story, but it cannot tell it alone. According to an article from Harvard Business Review, "The data you already have can't tell you how customers will react to innovations." Take data a step further by experimenting with it.
What will separate the good from the great in 2015?
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- The Critical Role of Employee Training
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While you dont want to be narrow in thinking, you should have a goal in mind before you begin diving into data. Data can be overwhelming; looking for specific opportunities in new areas is one way to cut through the noise.
B2B websites must provide similar service, ease of navigation as sites like Amazon, Target.
We recently worked with a distributor to identify the market potential for its portfolio of hydraulic and pneumatic products. A second objective was to identify untapped potential in its current customer base. Like many companies, it was working with anecdotal information from the sales force, and wanted to establish an external benchmark for a realistic addressable market size.
B2C and B2B customers require different things from e-commerce websites.
Wearable technology may be the next step in harnessing the power of data to improve business decisions and processes. Wearables expand on the Internet of Things, adding sensors to capture data in the Cloud with a business focus.
This month's Data Snapshot looks at the estimated size of the chemicals MRO market, which includes product categories such as adhesives, lubricants and sealants.
Analytics is not a one step process, or a search for a single answer. Its about guidance, according to Tony Pericle in an interview with IMIs sister company, Modern Distribution Management.
There are a variety of new buzzwords in the business world, including Cloud and the Internet of Things. What do they mean, and how will they affect distribution and construction industries? Wired.com recently wrote an article suggesting that these new ideas will change the world as we know it.
Industrial companies are at different stages of adoption of analytics, according to a report from Accenture and GE. Similar to IMIs findings in a recent survey of distributors, the report also found that a financial gap is widening between those that adopt analytics and those who dont.
To thank you for your business and add value to your MDM Premium subscription, MDM offers bonus content each month exclusively to premium subscribers.
This month we feature an exclusive excerpt from The Distributor's Guide to Analytics, a new book that will be available for purchase from mdm.com in December 2014.
In this article by Jon Schreibfeder, see how to apply inventory management analytics throughout a distribution business, from customer service to stockouts.
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Using data can show how your organization can start leveraging data about your customers and prospects more effectively to build competitive advantage. Whoever has the best visibility into where opportunity exists in the marketplace can best focus on how to monetize it.
Take the time to lay the groundwork before embarking on too many projects at once.
Using hard data provides real intelligence on opportunities for growth.
This month's Data Snapshot looks at the estimated size of the increasingly busy jan-san market.
