Data is the new oil – but not just any data
Partners need data to succeed in XaaS and lifecycle selling models. Lack of data-driven insights is throttling their growth potential as they need accurate and up-to-date data to identify new customers, understand their needs, and tailor their strategies accordingly. Using the right data, partners can maximise and optimise their business throughout the customer lifecycle.
As the industry undergoes a transformative shift towards XaaS and recurring revenue models, partners recognise the importance of data, but most are struggling to get the right data to support lifecycle selling.
say access to the right data to support lifecycle selling is a key challenge
"Data is the new oil. Just like crude oil, we need to find data, extract it, refine it, and distribute it to end users. Access to the right data, at the right time, for the right users is one of the most important aspects of organisation in this digital era to handle business challenges. Without data, decision-makers can only make decisions or analyse their performance based on gut feel."
Bernardy Suhendra, Head of Data and AI, PT MII, Indonesia
Challenges in data utilisation
Partners often deal with a deluge of data from multiple vendors, customers, and internal systems, leading to inconsistencies in format, structure, and quality. Integrating and analysing such diverse data sets, while introducing automation, can be time consuming, technically complex and require specialised skills and tools.
Although partners recognise the need to serve the right data, to the right people, at the right time, they’re struggling with data utilisation—a testament to the complexities of the XaaS era.
are challenged with handling multiple diverse data sources and types
Future investment focus
Partners recognise that data analysis can help them accurately identify customer segments, predict buying behaviour, and offer proactive customer support. This in turn leads to higher customer satisfaction, retention, and sales.
They also recognise that quality, actionable data will help them identify new opportunities, improve their forecasting, efficiency, and decision-making – all resulting in an increase in sales and revenue.
Despite the challenges with data utilisation, the majority recognise the significance of data and analytics, marking it as a crucial investment focus for the next 12 months. This emphasises a strategic acknowledgment of the pivotal role data plays in shaping the future of channel partners.
say data and analytics is an important investment focus for the next 12 months
"Data is crucial for making calculated business decisions – only if you know how to use it."
JP Smith, Vice President of Sales for East and West Africa, Dimension Data, Kenya