How partners can use predictive data analysis to drive growth
How will your industry change in the next 3 months or 3 years?
How should you prepare for the future?
Are you making the right decisions now for what’s coming?
Asking these questions and having the right answers can directly affect your strategic decision making, business outcomes, and your growth trajectory. With these in-depth, real-time insights, you can predict your future business needs, identify risks, and find new opportunities.
But how could you predict future events and trends? How reliable would your predictions be?
The answer: Predictive data analysis.
What is Predictive data analysis?
Predictive data analysis is advanced analytics that uses statistics, artificial intelligence, and machine learning – decision trees, neural networks, regression, cluster models, and time series modelling to analyse current and historical data to predict future events and outcomes.
It has become a powerful decision-making tool for decision makers in various industries – healthcare, retail, supply chain, finance, marketing, and manufacturing, to name a few.
The benefits of using predictive data analysis
Having access to the right data, right tools, and data analytics expertise can give you a competitive advantage in this fast-paced, constantly changing business environment. Using a specific combination of parameters and models, you can assess the risks and opportunities that exist in a particular set of conditions.
For example, predictive data analytics help channel partners optimise customer engagement and drive recurring revenue throughout the customer lifecycle by creating targeted sales and marketing campaigns and activities through detailed customer profiles and segmentations. This enables partners to reach the right audience with the right message at the right time.
In our Channel Research Report 2024, Bridging the Gap: Power Up Your Data for Channel Partner Transformation, we surveyed more than 500 partners across 9 countries on the importance of quality, actionable data for XaaS transformation.
Here’s what we found out:
- 97% see data as important for their XaaS transformation
- 95% say data and analytics is an important investment focus over the next 12 months
- 36% agree that actionable data-led market and customer insights are the most important distributor value-added offer
Predictive data analysis can help partners accurately identify customer segments, predict buying behaviour, and offer proactive customer support. This results in higher customer satisfaction, retention, and sales.
In short, predictive data analysis can help you to:
- Make well-informed, real-time decisions
- Understand complex problems faster
- Improve sales and marketing forecast
- Optimise inventories and staffing
- Improve customer engagement
- Reduce risk profiles
- Enhance operational efficiency
- Improve profit margins
How can Westcon-Comstor help you get on board?
Westcon-Comstor’s Intelligent Demand (iD) leverages predictive data analysis to drive growth for partners and vendors.
Intelligent Demand is an analytics-led marketing programme that combines an analytical understanding of data with market intelligence and channel expertise to deliver actionable insights for business growth.
As a technology solutions provider, Westcon-Comstor has access to knowledge and insights from vendors, partners, and end customers. This insight combined with curated, best-in-class data, analyst research, and our own proprietary data science models enables us to identify new markets and deliver insights with exceptional accuracy.
Using analytics to drive growth
With Intelligent Demand, our partners and vendors can:
- Benefit from the insights of data scientists, analysts, channel, and product experts from within Westcon-Comstor
- Take advantage of predictive data analysis to validate market opportunity and prioritise actionable insights
- Unlock new markets with precision and accuracy for highly targeted activity
- Utilise a data-led approach to customer lifecycle selling and gain a better understanding of customers and prospects
- Have better conversations with existing accounts driven by a greater understanding of their environments
“We are sitting on a gold mine, and we don't even notice it. The amount of data we have in our system, if well filtered, can help us identify business opportunities by cross-selling, targeting the right audience, and having insights into our customers' business. Knowledge is power and iD gives us that."
Mafalda Menezes, Manager Business Creation EMEA, Inside Sales
Want to find out more?
Contact us for more information on how Intelligence Demand can help your business.
