By Jim Holland, Senior Product Marketing Manager
The unprecedented and explosive growth of data is the result of global economic expansion, broadening channels and products sold worldwide. The creation and management of data has become more complex based on channels, location, user, size and origin.
In a survey of 1,500 executives in Rethink Data, new research sponsored by Seagate and conducted by IDC, they found that “Most data available to businesses goes untapped.” In fact, “Only 32% of data available to enterprises is put to work. The remaining 68% goes unleveraged” according to the research.
Why Is Data 68% Unleveraged?
With the volume of data overwhelming many companies,“It means a greater extent of data sprawl, which enterprises are increasingly tasked to manage. Data sprawl leads to siloed data, which cannot be accessed by all who need it. Without automated methods, managing data sprawl requires significant human labor and redundant tool purchases” shared the report.
How Does It Impact Channels?
With 70% or more of revenue generated from indirect sales, many high tech and semiconductor companies are trying to manage a new kind of data sprawl. Imagine having 100’s even 1000’s of global partners collecting and storing data in everything from spreadsheets to organized into multiple data bases. Often, this data is siloed and unavailable for business user consumption within a company. With no systematic way to access, store, normalize and make this data available from channels, it creates new business barriers and technology burdens that impact sales, sales operations and finance.
What are 5 Key Barriers To Managing Data?
“Organizations face five key challenges that they believe limit their ability to exploit the full potential of collected data” shared the research. They include:
1) Making collected data usable
2) Managing the storage of collected data
3) Ensuring that needed data is collected
4) Ensuring the security of collected data
5) Making the different silos of collected data available.
“These considerations are put in the language of IT. But they should matter to the business owners because they directly affect the value of data that businesses uncover” shares the report.
The Value of Uncovered Data
Imagine what your sales operations and sales leadership teams could do with current, accurate and managed data about channel sales, channel partner performance, end-customer adoption, competitive purchases and more?
What would your marketing and product teams uncover with current and intelligent insights into market trends, shifts in the market, what products are selling (or not) and which channel is selling?
Improving Channel Partner Data – Seagate’s Experience
With a CEO led initiative, Seagate wanted to evaluate options to improve its revenue growth and modernization goals. “Seagate’s overall goal was standardize our end-to-end processes and to look at pricing, programs, earning, payout and performance. We wanted to have one end-to-end system with one data layer that is continuous throughout each of these processes to have easy visibility.” “Everyone is moving to near real-time as you can’t take forever to do this.” commented Shane Quigley, Director of Business Operations.
Shane shared Seagate’s journey and how they improved channel partner data collection moving from one channel data management solution to Model N’s CDM improving data quality and better automating processes.
“We had another vendor doing our services for channel data management (CDM) and we came to a realization that we had to change due to complexity. Our previous vendor didn’t support the growth we needed with efficiency and speed that brings the transparency of data. The accuracy of data cleansing and processing in a timely manner became more critical” shared Quigley.
To begin your journey toward better managing data and to read the complete research click here. To listen to how Seagate modernized and improved its channel and data, go here. At Model N we have a point of view on data from your channel partners. We live it everyday. To learn more about how Model N can assist in your data management journey, click here.