Data & Analytics Archives

Analytics tools are playing an increasingly important role in distribution. But many distributors recognize that they lack the capabilities to implement an effective analytic strategy in their businesses.

This article includes:

Dealing with ERP system problems
Hiring people with the right analytics skills
Considering software-as-a-service providers

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Grainger Tackles the Data Challenge
Use & Abuse of Customer Profitability Analytics
MDM Interview: Creating a Culture of Innovation

March 25, 2015

Data & Analytics

Tip: More Baby Steps to Data Analysis

In a previous blog, I shared that the first best step to data analysis is classifying your CRM and ERP data by end-market. In this blog, I provide the next steps to data analysis.

March 24, 2015

Data & Analytics

Market Analytics: Your Competitive Edge

Over the past 20 years, companies have strived to gain a larger market share, often differentiating based on price and service. But in recent years, changes in technology have pushed companies to stand out from the competition by developing new ways of reaching customers.

March 20, 2015

Data & Analytics

Tip: Align Resources to Fit Customer Needs

Adjusting sales structure to better meet customer needs can improve profitability.

March 18, 2015

Data & Analytics

Data Snapshot: Power Tools in the U.S.

This month's data snapshot looks at the estimated size of the power tools market, which includes air and electric power tools.

March 18, 2015

Data & Analytics

Why Perfection is a Barrier to Progress

“It is better to be roughly right than precisely wrong.” When it comes to market analytics, the philosophy behind this statement usually attributed to economist John Maynard Keynes must be applied.

March 10, 2015

Data & Analytics

Improve Market Access to Unlock Potential

Improved market access can drive long-term growth in both a distributors profitability and its market share. But it requires an analytical look at customers and opportunities. This article is the final installment in our series on customer profitability analytics.

This article includes:

Customer segmentation
Growth and profit opportunities
Aligning services with customer needs

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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:

Grainger Tackles the Data Challenge
Tackling the Profitability Yo-Yo
3 Margin Levers of Customer Profitability Analytics

March 10, 2015

Data & Analytics

Harness the Power of Analytics

Analytics has changed the game forever.

March 9, 2015

Data & Analytics

Distributor’s Guide to Analytics Now Available

Gale Media announces publication of new book.

March 4, 2015

Data & Analytics

Improve Profitability by Changing Anecdote to Data

Salespeople need data to understand where a company does and doesn't make money.

March 3, 2015

Data & Analytics

3 Margin Levers of Customer Profitability Analytics

Customer profitability analytics are an effective way to drive improvements in gross and net margins. This article looks at how distributors can apply the information they have uncovered to improving profitability. Part 1 of this series covered the basic concepts behind customer and transactional cost analysis and presented some key limitations.

This article includes:

Profit Improvement Plans
Pricing Optimization
Services and Channel Alignment

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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:

Use & Abuse of Customer Profitability Analytics
Tackling the Profitability Yo-Yo
Commentary: Analyzing Analytics

February 25, 2015

Data & Analytics

Tip: Grow into New Markets

Use market data to help you clearly define all aspects of new growth opportunities.

February 20, 2015

Data & Analytics

Avoid Sales Pitfalls

Distributors face issues that can make every day feel like a struggle. The first step to overcoming these issues is to define them. Here are four common problems that can be prevented.

February 17, 2015

Data & Analytics

Data Shapshot: Cutting Tools in the U.S.

This month's Data Snapshot looks at the estimated size of the cutting tools market, which includes carbide and high speed cutting tools.

February 13, 2015

Data & Analytics

Use & Abuse of Customer Profitability Analytics

Distributors are increasingly aware of the need to understand customer profitability, and more tools are available than ever before to help with this process. This article examines how to deploy profitability tools and how to avoid making critical business mistakes in the process.This is the first article in a three-part series on customer profitability analytics.

This article includes:

Explanation of activity-based costing
Sources of material inaccuracy
Accurately measuring selling costs

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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:

MDM Interview: Redefining Competitive Advantage
Tackling the Profitability Yo-Yo
Commentary: Analyzing Analytics

February 10, 2015

Data & Analytics

Defining Analytics

Analytics has evolved rapidly in wholesale distribution channels, fueled in part by the explosion of technology innovation over the past several years, but also as a part of the industrys natural lifecycle. Companies that keep building their analytic capability are staying ahead of the wave.

February 9, 2015

Data & Analytics

Data Snapshot: Abrasives in the U.S.

This month's Data Snapshot looks at the estimated size of the abrasives market, which includes product categories coated abrasives, bonded abrasives, grain grit shot abrasives and super abrasives.

January 28, 2015

Companies

Develop a Cybersecurity Strategy to Defeat Data Breaches

2015 will be the year of the breach. Is your company protected?

January 27, 2015

Data & Analytics

Tip: Baby Steps to Data Analysis

Your CRM and ERP systems are full of data that can be used to make meaningful observations about the way your business works and how to improve it. Unfortunately, data wont come to any conclusions by itself, and it is sometimes difficult to know where to start your data analysis.

January 23, 2015

Data & Analytics

What is Wallet Share?

Wallet share is your portion of a customers spend. For example, your customer buys bearings from you. But what percentage of their bearings purchases come from you as opposed to other distributors? So, how important is wallet share?

January 19, 2015

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