MDM-Podcasts-launch
Need Help? (888) 742-5060

In The News:

Tip: Prioritize Continuous Improvement in Analytics

February 13, 2014

More distributors are aware of the value that the strategic use of analytics can bring to their companies, but most are unsatisfied with their current analytics capabilities, according to MDM’s recent report, The State of Analytics in Distribution: 2014. Prioritize continuous improvement in analytics to create competitive advantage, writes author Tom Gale, president of Industrial Market Information and publisher of MDM.

More than half of respondents to an MDM survey on the topic said that they use just rudimentary or simple reporting or spreadsheet tools in their companies.

With more technology providers integrating even basic tools to analyze the data in distributors’ systems, it’s critical to build out a plan to create an increasingly robust system by which decision-making is driven by data. But it doesn’t have to be done all at once. Taking small steps that can result in ongoing improvement is better than taking none.

And keep in mind that the tools need to measure the right information, not just the easy-to-measure information, according to Mike Marks of Indian River Consulting Group in Minding the Gap Between Data & Action.

© 2019 Gale Media, Inc.

Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.

2018-top-distributors-listThe 2018 Top Distributors List

This free PDF includes lists of top distribution companies across 14 sectors.

You will also receive MDM Update, our daily distribution e-newsletter & other distribution-focused content.

Download the Free PDF now >>


MDM-UpdateMDM Update: Daily Newsletter 

Sign up to read the best source for news & trends in wholesale distribution, MDM Update. Delivered daily to your inbox. 

Sign-up for MDM Update >>

Post a comment to this article

Partner Center