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Distributors have increased awareness of the value of analytics, but struggle to implement a process.
Technology is enabling a different conversation.
Where there are gaps, there are opportunities. MDM’s research on the state of analytics in wholesale distribution identified clear gaps across analytics technology, talent and techniques. This perspective from Publisher Tom Gale talks about why you should think about a strategy and plan for analytics.
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- The Rise of ‘Little Data’ in Distribution
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Research conducted by MDM on the adoption and use of analytics by wholesale distribution companies revealed several key trends:
- The wholesale distribution industry is transitioning to a more data-driven mindset, but there are widely different views on what that means.
- Many distributors say they don’t have the right analytic tools, technologies and talent needed to stay competitive in quickly shifting markets.
- Survey respondents are generally satisfied with analytics centered on operational efficiencies and financial reporting, but less satisfied with deployment of more strategic tools focused on profitability, sales, marketing and service development.
This article includes:
- The evolution of Analytics
- Results from the MDM survey on use of analytics in distribution businesses
- Opportunity for competitive advantage using analytics
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- Beyond Amazon: E-Commerce's Impact on Wholesale Distribution Markets
- The Rise of ‘Little Data’ in Distribution
- MDM Interview: Breaking Down the Barriers for CRM
2014 will be a year of pushing forward on data initiatives for distributors.
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"Truthiness" describes using intuition or gut feeling to define "truth" without regard to facts, data or even logic. Today, there's a lot of truthiness surrounding big data, market planning and customer relevance.
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Brent Grover on why distributors need to think about data on a functional level.
This article examines ways distributors can use net profit or net before compensation to segment their markets and target new customer acquisition efforts. The authors argue that this approach will be more lucrative and ultimately easier to implement and less resource-intensive than other methods, including Activity Based Costing.
This article includes:
- Why net profit or net before compensation (NBC) is a more accurate metric
- How to measure customer success
- How to use NBC to target sweet spots for customer acquisition
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