Seemingly obvious streams of payoff can be mirages at best, or quicksand at worst, says Jonathan Byrnes of Profit Isle in a new podcast.
Latest In Data & Analytics
Create target customer segments that are more likely to take advantage of your unique product selection and services.
Begin with the basics: define objectives and data sources, improve data quality and build a sustainable model.
Involving a cross-functional team will increase the likelihood of successful company-wide adoption.
There are many easy-to-implement strategies that will help improve search rankings.
Dependence on traditional measures such as gross margin can put a drag on growth and profits. New metrics such as cash-flow value to expenses or expenses as percent of revenue, combined with customer-focused services, are propelling those who take advantage of them, says WayPoint Analytics Randy MacLean.
Three key areas to focus on to improve profits even during a business slowdown.
The partnership integrates Tribute's TrulinX ERP software with Aldrich's WebAlliance integrated e-commerce suite of products.
As top distributors become more proficient with data analysis, others are falling behind, creating a critical gap in competitive business intelligence. Four of the speakers at MDM’s upcoming Analytics Summit share their recommendations here for optimizing data analytics across a range of business operations.
This article includes:
- The Will to Do It
- Why It's Been Lacking
- Spreading the Knowledge
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Unlock valuable business and customer insights to identify patterns and pinpoint supply-chain inefficiencies.
Distributors cannot generate high profit rates without high efficiency.
Ample capacity and weather-related supply chain disruptions kept rates in check.
Analytics-driven operations can deliver staggering profit gains, but it takes a visionary leader who won’t accept a company’s current limited analytical expertise. In this article the author, who will outline these concepts at MDM’s Pricing & Profitability Summit, www.pnp.com, Apr. 15-17, argues that distributors can shift from a revenue-share mindset to a profit-share mindset by zeroing in on three key metrics: gross profit, cost-to-serve and net before compensation. It also outlines how the concepts of line-item profit analytics and quantum costing can create an effective analytics environment. This article is an excerpt from a chapter in A Distributor’s Guide to Analytics, a book published by MDM.
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Three factors for distributors to consider when evaluating risks in automatic pricing.
In Part 1 of this series, we presented the results of an MDM survey about distributor marketing, focusing on the level of success they are currently having in their marketing efforts and to what extent they are deploying the various kinds of marketing vehicle (SEO, social media, e-mail, print and telemarketing). The overall trend we identified is that while distributors are slowly getting better at marketing, only a small portion (6 percent) can be classified as high performers. In Part 2 of the series, we explore two areas that distributors must improve on if they are to join that 6 percent and reap first-mover benefits.
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The 2018 State of Distributor Marketing examines how distributors perceive the features and benefits they offer customers. This joint survey between MDM-Real Results Marketing reveals that distributors are increasingly relying on search marketing instead of email marketing. This article examines how distributors across sectors approach marketing, what they consider the most effective channels to be and the frequency with which they conduct their different marketing vehicles.
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Most companies in this third quarter have spent time translating strategy into a 2019 business plan. We receive a lot of inquiries about where the winds are blowing the tea leaves as planning teams develop growth strategies for the coming year.
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Analytics in the distribution industry are at an early stage and yet more accessible to management teams than ever. Some distributors will leverage these new tools more effectively than their competitors to open a gap; others will wonder why they are losing share in increasingly disruptive markets.
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Data analytics is the driving force that separates the world-class distributors from the also-rans.
Leverage the data champions to bring the rest along.
