May was a busy month for Data Analytics and IoT with conferences including IoT World, IBM Vision, Informatica World and SAP Sapphire. As industry leaders descended upon California and Florida, Tech Data was onsite to press the flesh, talk to customers, and gain a deeper understanding of business needs and use cases.
To kick off the week of conferences, our Data Analytics and IoT Strategic Business Unit “took over” our LinkedIn channel to provide commentary on industry trends, solution offerings and market drivers for data analytics.
Our Top Five Takeaways:
- With the growth of data and cloud adoption continuing to rise, it is apparent that data integration, quality, consistency and security are more important than ever. One effective approach for businesses to become more responsive to this rise is to combine the aspects of cloud computing with information enabled by data analytics. Discover how valuable Big Data as a Service is for processing, storing and analyzing data.
- Consumers are looking to leverage data sources outside of their internal data to gain greater business insights for improved decision-making. The challenge is that they are just scratching the surface when it comes to figuring out how to leverage external data sources. Channel partners can increase their market share by extending existing data analytic solutions with curated, precise third party data. By combining third party data sources with integration capabilities, partners can monetize data both for themselves and their customers. Check out this video on how weather data in particular can increase sales, services streams and overall perceived value with end-user clients.
- An increasing number of consulting partners are continuing to make the pivot towards selling more software, both perpetual licenses and SaaS. Enterprise hardware sales plus maintenance renewal is shifting and in order to offset some of the loss and revenue, consulting partners are considering adopting a Monthly Recurring Revenue Model (MRR) that helps them focus foremost on customer support and retention instead of fretting over one-off sales every month. With this pivot, VARs and Managed Service Providers may need to rethink their sales processes, compensation plans and incentives if they would like to stay competitive in the 3rd platform space.
- Customers are feeling increased pressure to innovate in IoT and are looking for guidance on how to identify use cases. When it comes to IoT, the CIO is no longer your target. Your source for IoT opportunity is with the line of business, no matter the industry. Gaining a true understanding of verticals and how to speak to their particular challenges and business needs will encourage your customers to be more receptive to the possibilities of IoT, including how to ultimately improve efficiency in their line of business. In retail, an IoT opportunity could mean reaching out to a building manager or possibly a store manager to discuss how to display products more visibly and track for real-time inventory. For manufacturing, it could mean speaking to the production line manager to discover pain points in production efficiency.
- More and more solution providers are realizing the value of partnerships to drive business outcomes using data analytics and IoT. Why waste the time and investments needed in developing when there is a shorter path to revenue for you – by partnering with an IoT ecosystem aggregator and purveyor of data analytics solutions. Let a trusted resource of suppliers, services, tools and finance options help accelerate your sales cycle.
It was a big month for Data Analytics and IoT. Conferences tend to energize partners with new possibilities. Tech Data is here to help you apply that energy towards considerable action. For more information on these events and how Tech Data can help you think outside the proverbial box, contact firstname.lastname@example.org.