Tip: ‘Take Action on Data’ for Analytics Success

Distributors of all sizes can benefit from analytical benchmarking.
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Companies that resist building an analytics culture will fall further behind as big data becomes more ubiquitous and continues to grow, according to Paul St. Germain, co-author of the National Association of Wholesaler-Distributors book Facing the Forces of Change, in 7 Steps to Analytics Success.

All companies can benefit from making their organizations more data-driven, no matter their size, St. Germain says.

"It doesn't matter if you're a multibillion-dollar business or a $10 million business," he says. "The opportunities are there for both."

While distributors can be overwhelmed by where and how to begin benchmarking with analytics, today's constantly changing technology requires companies to keep pace.

"You've got data, you've got insights, but now what do you do?" St. Germain asked. "You must take action on the data."

Bringing analytics to life can uncover numerous insights, including economic projections, consumer spending habits and market demand. By tapping into this data, distributors can understand how changes will affect their business and the best ways to react to them.

Read St. Germain's tips for taking action on data in 7 Steps to Analytics Success.

 

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