10 things that every Industrial Website should have

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Soham Kamthe

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Sep 2023

As an Industrial business, having a strong online presence is crucial for attracting potential customers and showcasing your products and services. Your website is the first thing that your prospective customers see about your company and having a good first impression always plays off in the long run. Nowadays Industrial websites are also moving towards becoming modern and adopting ongoing trends. However, there are a few common mistakes that many industrial websites make, which can hinder their success and impact their ability to attract and retain customers.

Here are the top 10 things that every Industrial Website should have: 

1. A Mobile-Friendly Design
   In today’s world, more and more people are accessing the internet on their smartphones and tablets. If your industrial website is not mobile-friendly, it can be difficult for these users to navigate and use your site, leading to a poor user experience. This can result in potential customers leaving your site and choosing a competitor’s site instead.
2. A clear and concise explanation of the products or services that the company offers
   An example of this would be a section on an industrial website that outlines the different types of machinery or equipment that the company manufactures, along with detailed descriptions of each product’s features and capabilities.
3. A professional and user-friendly design
   An example of this would be a website that is visually appealing and easy to navigate, with a clean and organized layout and clear calls to action.
4. Customer testimonials or case studies
   An example of this would be a section on an industrial website that features quotes or stories from satisfied customers, describing their experiences working with the company and the results they achieved.
5. Contact information
   An example of this would be a page on an industrial website that includes the company’s physical address, phone number, and email address, as well as a form that visitors can use to submit inquiries or requests for more information.
6. Technical specifications and documentation
   An example of this would be a page on an industrial website that provides detailed information about the technical capabilities of the company’s products, including technical drawings, data sheets, and user manuals. This type of information is especially important for industrial products, as it helps customers understand the capabilities and limitations of the products and make informed decisions about whether they are a good fit for their needs.
7. A list of accreditations and certifications
   An example of this would be a page on an industrial website that showcases any relevant certifications or accreditations that the company holds, such as ISO 9001 certification or UL listing. This can help build trust with potential customers and demonstrate the company’s commitment to quality and safety.
8. A FAQ section
   An example of this would be a page on an industrial website that provides answers to common questions that customers may have about the company’s products or services. This can save time for both the company and its customers and help reduce the number of inquiries the company receives.
9. A customer portal
   An example of this would be a secure login area on an industrial website that allows customers to access their account information, place orders, view invoices, and more. This can improve the customer experience and make it easier for customers to do business with the company.
10. Contact Us
    This section should provide information on how visitors can get in touch with the company, including its physical address, phone number, and email address. It should also include a contact form or other means for visitors to send inquiries or request more information. For example, a company that provides industrial consulting services might have a Contact Us page that includes its office locations, phone numbers, and a form for potential clients to request a consultation.

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

Data is the New Oil: Navigating Data Quality in 2023

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Lalit Bhatt

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Sep 2023

Photo by David Parkins in Economist

Data is the new oil. Nothing new in that. Data is everywhere. Decisions based on data always give you an edge, again nothing new in that. But you might still be making completely wrong decisions based on your data. Is this caused by a problem with your interpretation or data analysis? No, there is no problem with your interpretation and analysis of data, the problem is with your data quality!!

Data is the New Oil: Navigating Data Quality

Does your data stink?

Let’s do an exercise. Take any data point in your system. It could be your installed base. Maintaining and managing installed base details and customer details around it is the bread and butter of any industrial organization. In how many systems, do you find the equipment details duplicated?  Do all your data points match with each other? Who owns the master record? Are all systems actively cleaned up to unify the data points? Again, this is something that we come across over and over again; there’s nothing new in all these problems.

Bad data can severely impact the financial health of an organization 

The world understands it, but how do we solve this problem? Needless to say, bad data not only leads to wrong decisions but can severely impact the financial health of an organization. Organizations do go for one-off data cleaning projects which help them clean the data at a given point in time. However, the data tends to go bad quickly if the cleanliness is not institutionalized. Imagine cleaning our house once a year! Will it suffice?

Data cleaning is so difficult!!

Is regular cleaning of data even possible? I would say it is not even a question. Is there a choice? If organizations do not actively pursue the strategy of maintaining the quality of data, they will quickly lose track of many things. The analytics surfaced by data points will be way off the mark. It can be completely wrong.

On the face of it, it looks like a daunting exercise. Organizations have so many systems and data constantly flowing in and out of them. Different functions do their updates which are never propagated across the organization. We have truly evolved from multiple spreadsheets in individual laptops to multiple data stores in all possible corners of an organization. And spreadsheets still have not gone away. On the contrary, they are going strong and still growing.

Is there a way out?

Building a culture of data quality as an integral part of the organizational Culture – Is the way out

Yes, but it is not so much about technology but building a culture of data quality as an important value as part of the culture of the organization. Once the aspiration is there, technology will fall in place, as data is the new oil, it should be utilized in the most appropriate manner.

The most important thing for any data quality initiative is to build a notion of a “single source of truth”. That would mean data from different systems constantly fed into the system designated as a single source of truth. The batches of data will also need cleaning, deduplication, and enrichment exercises to be performed on it. And the single source of truth should be able to make the data available to all other systems through open APIs and integrations.

I believe that in the longer run, every organization will have to go to the approach of having a “Single source of truth” which is the primary data store and all other workflow systems feeding on it to serve the business workflows and processes.

Do you have a single source of truth that maintains the quality of data as a constant exercise? 

Let us know at info@entytle.com. Read more about Entytle’s capabilities here.

Enhanced Automated Aftermarket for Improved Efficiency

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Tejas Dhokane

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Sep 2023

In the world of Industrials, the ultimate buzzword is efficiency. For Industrial OEMs, the pursuit of efficiency is not just a goal, it’s a mandate for survival and success. Efficiency is the catalyst for productivity and profitability. To enhance efficiency, industries should drive towards new technologies i.e. automating the processes. Automated aftermarket industries can enhance efficiency resulting in streamlining their operations, reducing costs, and elevating product quality. In this blog, we will explore how enhanced automated aftermarket is revolutionizing the landscape for Industrial OEMs and driving success to new heights.

The Industrial Aftermarket Landscape: Challenges and Opportunities

Before delving into automated aftermarket, let’s first understand the challenges and opportunities that aftermarket leaders encounter in their day-to-day operations.

Challenges

1. Complex Supply Chain

Managing a complex supply chain that involves a wide range of products can be overwhelming, leading to bottlenecks and delays.

2. Inventory Management

Balancing inventory levels to meet customer demands without overstocking or understocking is a constant challenge.

3. Quality Assurance

Ensuring consistent aftermarket product and service quality is vital for customer satisfaction and brand reputation.

Opportunities

1. Customer-Centric Approach

Aftermarket leaders can set themselves apart by providing exceptional customer experiences, including quick responses to inquiries and efficient order processing.

2. Data-Driven Decision-Making

Leveraging data analytics can help aftermarket leaders make informed decisions, reduce costs, and optimize processes.

3. Efficiency

Enhanced automated aftermarket can streamline operations, reduce manual tasks, and enhance overall efficiency.

The Power of Enhanced Automated Aftermarket for Industrials

1. Streamlined Inventory Management

Enhanced Automated aftermarket can significantly improve inventory management by tracking products. It can forecast demand, automatically reorder parts when stock runs low, and provide valuable insights into inventory turnover rates. This results in reduced carrying costs and minimizes the risk of overstocking or stockouts.

2. Faster Order Fulfillment

With enhanced aftermarket, order processing becomes faster and more accurate. Orders can be received and processed automatically, reducing the chances of errors associated with manual data entry. This leads to shorter lead times, faster delivery to customers, and increased customer satisfaction.

3. Enhanced Quality Control

Enhanced Automated Aftermarket can be integrated into quality control processes to ensure consistent product quality. Sensors, cameras, and robotic systems can detect defects, allowing for immediate adjustments and reducing the chances of delivering subpar products to customers.

4. Predictive Maintenance

Enhanced Automated Aftermarket can monitor the performance of equipment and machinery. By analyzing data, it can predict when maintenance is needed, preventing costly breakdowns and reducing downtime.

5. Data-driven insights

Enhanced Automated Aftermarket generates a wealth of data that can be harnessed for decision-making. By analyzing this data, aftermarket leaders can identify trends, customer preferences, and opportunities for process optimization.

Implementing Enhanced Automated Aftermarket: Key Considerations

1. Technology Selection

Choose the right automated aftermarket technologies that align with your specific aftermarket needs. This might include robotics, IoT devices, and advanced software solutions.

2. Integration

Ensure seamless integration of automated aftermarket systems with existing IT infrastructure and processes. This will avoid disruptions and ensure a smooth transition.

3. Training

Invest in training your workforce to operate and maintain automated aftermarket systems. A well-trained team is crucial for the success of any automated aftermarket initiative.

5. Data Security

Implement robust cybersecurity measures to protect sensitive data collected through automated aftermarket systems. Data breaches can have severe consequences for your business.

In the aftermarket domain for Industrials, efficiency is not just a goal; it’s a necessity. By enhanced automated aftermarket, leaders can navigate the challenges of the modern marketplace while capitalizing on the opportunities it offers. With streamlined operations, improved quality control, and data-driven decision-making, aftermarket leaders can position themselves at the forefront of their industry, ready to meet the demands of today and tomorrow. The journey toward enhancing efficiency with enhanced automated aftermarket may require an initial investment, but the long-term benefits in terms of cost savings, customer satisfaction, and competitive advantage are well worth it. As aftermarket leaders, the time to automate is now, and the path forward promises a brighter and more efficient future for your business. Also, read about the challenges faced by Industrials in the absence of automated aftermarket.

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

How to Strengthen Customer Relationships in Industrials: The Data-Driven Approach with IB Healthcheck

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Nikhil Dudhawat

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Sep 2023

In the Industrial world of Machinery Manufacturing, success is not only about creating robust equipment but also about cultivating lasting Customer Relationships with your valued customers. As decision-makers in the field of Industrial OEMs, you understand that customer trust and loyalty are the cornerstones of your business. One powerful strategy that holds the key to achieving these pivotal goals is harnessing the potential of data-backed inspections. In this blog, we’ll explore how data-driven inspections using IB Healthcheck can empower you to build stronger, more meaningful Customer Relationships in Industrials.

How to Strengthen Customer Relationships in Industrials?

Customer Relationships in Industrials (Machinery Manufacturers) can be strengthened by performing data-driven inspections using IB Healthcheck, understanding the value of your IB Data, and harnessing it to get valuable customer insights. These insights will empower your Aftermarket Sales/Services teams to build strong customer relationships. In the long term, these relationships would be helpful in driving repeat sales to these customers.

1. Understanding the Foundation – Customer Insights

At the heart of every thriving relationship lies the ability to understand your customer’s unique needs and challenges. For Industrial OEMs, this means gaining a comprehensive understanding of equipment performance, usage patterns, and maintenance requirements. Data is the key to unlocking these insights, allowing you to provide tailored solutions and proactive support.

2. Centralizing Data for Holistic Insights

Begin the journey by gathering and centralizing data from the machinery you’ve supplied. This includes crucial information such as usage metrics, performance indicators, and maintenance records. Modern tools like Entytle’s IB HealthCheck streamline this process, ensuring that you can effortlessly collect and organize valuable data. Armed with a panoramic view of your customers’ equipment, you’re better equipped to offer services customized to their unique needs.

3. Deriving Wisdom from Installed Base Data

Once you have the data in your grasp, the real transformation begins. Leverage analytical tools to identify patterns, trends, and potential areas of concern. Are there recurring maintenance issues? Is there room to optimize equipment performance? These insights not only empower you to make informed decisions but also demonstrate your unwavering commitment to your customer’s success.

4. Proactive Engagement for Enhanced Satisfaction

Armed with insights from data, it’s time to take a proactive stance. Reach out to your customers with precise recommendations. Rather than waiting for issues to arise, present solutions proactively. For example, if you notice a consistent trend of wear and tear in a specific component, proactively alert your customer and suggest a timely replacement. This proactive approach showcases your dedication to minimizing downtime and maximizing satisfaction.

5. Transparent Communication for Trust

Transparency is the cornerstone of trust. Clearly communicate your findings, recommendations, and the steps you’re taking in a straightforward manner. Utilize visual aids and simplified reports to translate complex technical data into understandable terms through your Aftermarket Service teams. When customers see that you’re not just selling machinery, but offering a comprehensive partnership, their confidence in your brand deepens.

6. Nurturing Long-Term Bonds

Building robust customer relationships in Industrials is an ongoing journey. Regularly revisit the data, adjust your strategies, and adapt to changing needs. Foster open lines of communication where customers can provide feedback and express concerns. Establish mechanisms for continuous improvement to ensure your offerings and services continue to align with their evolving expectations.

As Aftermarket leaders in the machinery manufacturing industry, your role extends beyond transactions. It involves providing unwavering support, nurturing loyalty, and becoming a trusted collaborator in your customers’ successes. Embracing data-backed inspections using tools like IB Healthcheck facilitates this journey. By harnessing the power of information, you’re elevating routine maintenance to a pathway towards fortified customer relationships in Industrials. Remember, in the world of Industrial OEMs, data is not just numbers—it’s the bedrock of profound connections.

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

Data Standardization in Manufacturing for Aftermarket Success

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Sahil Monga

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Sep 2023

In the fast-paced world of manufacturing, success in the aftermarket depends on timely, accurate, and consistent data. This is especially true when dealing with various business units and acquisitions, each with its own data sources and formats. Standardizing data across these different entities is crucial for improving product support, customer satisfaction, and operational efficiency. It’s very important to achieve data standardization in the manufacturing sector, with a focus on the benefits it can bring to the aftermarket.

Data Standardization in Manufacturing for Aftermarket Success

I’ve been fortunate to collaborate with numerous OEMs, and this experience has equipped me with the confidence to articulate various methods for standardizing data:

1. Establish Clear Objectives

To begin the journey of data standardization in manufacturing, it’s essential to define clear objectives. Determine what specific goals you want to achieve in the aftermarket, such as improving spare parts availability, enhancing customer support, and reducing downtime. Having a clear vision will guide your efforts and keep the team aligned. This morning, I had a conversation with a prospective client who has been struggling with data standardization challenges following the acquisition of four companies last year. The lack of clearly defined objectives has resulted in complications within their current service management system data.

2. Identify Data Sources

Identify all the relevant data sources across different business units and acquisitions that play a role in the aftermarket. These sources may include ERP systems, production databases, supplier information, and historical maintenance records. Creating a comprehensive list will help ensure that no critical data is left unaccounted for.

3. Data Governance Framework

A robust data governance framework is the backbone of any successful data standardization in manufacturing initiatives. This framework should clearly define roles, responsibilities, and processes for data management. Ensure that representatives from various business units and acquisitions are involved to promote collaboration and compliance.

4. Data Mapping and Inventory

Create a detailed inventory of the data elements essential for aftermarket operations, such as product specifications, maintenance records, parts catalogs, and customer information. Map data sources to these elements to identify gaps, overlaps, and potential sources of data conflicts.

5. Data Dictionary Creation

Develop a comprehensive data dictionary that defines standardized terms, formats, and codes for each data element. This dictionary should be easily accessible to all relevant personnel, serving as a reference point for data standardization in manufacturing efforts.

6. Data Quality Assessment

Before standardizing data, assess its quality in each source. Identify issues like duplication, inaccuracies, and missing information. Establish data quality standards and metrics to measure improvement over time.

7. Data Integration and Transformation

Implement data integration tools and Extract, Transform, and Load (ETL) processes to centralize data from various sources into a single repository. This centralization allows for easier data standardization in manufacturing efforts. Transform data into the standardized format defined in the data dictionary.

8. Master Data Management (MDM)

Implement a Master Data Management (MDM) solution to consistently manage and maintain critical data entities such as product information, customer data, and supplier information across the organization. MDM ensures data consistency and accuracy.

9. Data Validation and Verification

Establish validation rules and verification processes to ensure incoming data meets the defined standards. Implement automated checks to flag data quality issues in real time, enabling quick corrections.

10. Change Management

Communication and buy-in are critical in data standardization in manufacturing initiatives. Communicate the objectives and benefits of data standardization to all stakeholders. Provide training as needed and encourage active participation from different business units and acquisitions.

11. Continuous Monitoring and Improvement

Set up regular monitoring of data quality and compliance with data standards. Periodically review and update data standards and processes to adapt to evolving business needs and technological advancements.

12. Data Analytics and Reporting

Leverage standardized data for advanced analytics, predictive maintenance, and reporting to enhance aftermarket services and decision-making. Standardized data empowers your team with insights to improve customer support and operational efficiency.

13. Feedback and Collaboration

Encourage feedback from aftermarket teams and collaborate with them to continually refine data standards and processes. Their input can be invaluable in adapting standards to the specific needs of the aftermarket.

14. Audit and Compliance

Conduct periodic audits to ensure ongoing adherence to data standards and compliance with industry regulations. Regular audits help maintain data integrity and build trust with customers.

Data Standardization in Manufacturing is very important for maintaining a competitive edge and delivering excellent customer support. Specifically, for the aftermarket segment, achieving this standardization demands careful planning, collaborative efforts, and consistent dedication. Our Installed base Intelligence platform excels in facilitating this standardization through AI model training and our deep expertise in Manufacturing and Aftermarket. With our platform, accomplishing this in just a matter of weeks becomes not only feasible but also highly effective and robust.

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

Making the Transition from Manual to Automated Aftermarket

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Tejas Dhokane

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Sep 2023

In the untapped and evolving world of industry, adaptability and innovation are key drivers of success. Industries are continuously evolving, and so should their aftermarket operations. In the business world, where industrial leaders are open to change and keen on staying ahead of the curve, the need for automated aftermarket has never been more pressing. In this blog, we’ll delve into the challenges that Original Equipment Manufacturers (OEMs) face today due to their manual aftermarket processes, and how embracing automation can be the game-changer they need.

Challenges Faced by Industrials in the Absence of Automated Aftermarket

Tribal Knowledge-Retiring Rapidly 

One of the most critical challenges Industrial OEMs are currently facing is the loss of tribal knowledge as experienced employees retire. Years of invaluable expertise and institutional knowledge leave with them, making it difficult to maintain the same level of quality and efficiency in aftermarket services.

Changing Customer Expectations

Today’s customers have evolved, and so have their expectations. They demand faster response times, customized solutions, and seamless interactions. Manual processes often struggle to meet these demands, resulting in dissatisfied customers and potentially lost business.

Internal Challenges

1. Difficulties in Acquiring New Employees

Recruiting and training new employees who can fill the shoes of retiring experts is a daunting task. The shortage of skilled labor in the industrial sector compounds this issue, making it harder to ensure consistent aftermarket excellence.

2. Downward Pressure on Capex

Budget constraints are a constant concern for OEMs. Investing in advanced automation technology can be seen as a significant capital expenditure. However, failing to adapt to changing market dynamics can be even more costly in the long run.

3. Doing More, with Less

The age-old mantra of doing more with fewer resources continues to plague OEMs. Manual processes often lead to inefficiencies, causing unnecessary operational costs and missed revenue opportunities.

External Challenges

1. Tools and Infrastructure that Don’t Scale

Outdated tools and infrastructure limit the scalability of aftermarket operations. As business volumes grow, manual processes become increasingly unsustainable, hampering the ability to serve a growing customer base efficiently.

2. Driving Proactive Volume Growth at Scale is Hard

Identifying opportunities for proactive volume growth within the installed base is challenging without real-time data and analytics. Manual systems struggle to provide the insights needed to seize these opportunities effectively.

3. Identifying Market Share Opportunities in the Installed Base

Knowing where to focus efforts to gain a larger share of the market within your existing customer base requires data-driven insights that manual processes often lack.

4. Cross-Selling at the Right Time

Cross-selling complementary products or services is a proven strategy for increasing revenue. However, manual systems may not provide the necessary data to identify the ideal timing for cross-selling opportunities.

5. Developing Repeat Customers

Building long-term relationships with customers is a goal for all OEMs. Manual processes often fall short of delivering consistent service quality and personalized experiences necessary for customer retention.

The Common Denominator: Manual Everything

All the challenges listed above have one thing in common: manual processes. Relying on traditional, labor-intensive methods in an ever-evolving industrial landscape puts OEMs at a significant disadvantage. It stifles growth, hinders customer satisfaction, and jeopardizes the ability to stay competitive.

The Path Forward: Embrace Automated Aftermarket

To overcome these challenges and thrive in the dynamic world of industrial manufacturing, OEMs must embrace automated aftermarket operations. By implementing cutting-edge technology, such as predictive analytics, IoT integration, and smart maintenance systems, industrial leaders can:

1. Preserve and leverage tribal knowledge through digital repositories.
2. Exceed customer expectations with faster response times and personalized service.
3. Attract and retain talent through investment in innovative technology.
4. Achieve cost savings and improved operational efficiency.
5. Proactively identify market share opportunities within their installed base.
6. Optimize cross-selling strategies.
7. Foster customer loyalty through consistently excellent service.

In the age of Industry 4.0, where innovation drives success, automated aftermarket operations are not just an option but a necessity. Industrial OEMs committed to staying ahead of the curve must recognize the urgent need for change. By replacing manual processes with automated solutions, they can overcome challenges, drive growth at scale, and secure their position as industry leaders in the ever-evolving industrial landscape. To learn more about Automated Aftermarket, we invite you to watch this insightful video. 

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

Unlocking Insights: The Dynamic Duo of Human-AI Collaboration in Data Analysis

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Shiuli Das

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Sep 2023

Making informed decisions is more important than ever in the fast-paced marketable world of the moment. Companies are turning to a new strategy that combines human experience with the power of artificial intelligence (AI) in a mission to stay ahead of the competition. This alliance has the implicit to completely transform the decision-making process. The pioneer in this field, Entytle is furnishing a unique illustration of how human-AI collaboration in data analysis might impact unborn strategic opinions.

The Dynamic Duo of Human-AI Collaboration in Data Analysis

The Influence of Data

The days of making decisions simply grounded on suspicion or spare knowledge are long gone. With the emergence of AI, a new period has begun where data analysis is no longer simply about calculating statistics but also about gaining precious perceptivity.

Human Capability

A strong framework for data analysis sits at the foundation of Entytle’s success. Entytle develops a thorough understanding of its business operations by gathering and analyzing enormous volumes of data from numerous sources, including data collection, maintaining records, and customer contacts.

Entytle uses data analysis to find trends, patterns, and potential problems that could affect their client’s post-sale service and parts operations. Making informed decisions that promote productivity and customer pleasure requires the use of this knowledge, which is priceless.

Role of AI

AI’s unparalleled computational prowess complements human expertise. Massive datasets may be processed quickly by AI systems, which can spot correlations, anomalies, and patterns that could elude human inspection. Entytle makes use of this power to find hidden trends in operational data, providing a deeper insight into consumer behavior, market trends, and other things. 

The Community at Work

The key to Entytle’s success is its capacity to capitalize on both the advantages of AI and humans. Human analysts confirm these insights to make sure they correspond with the company’s goals and practical factors, even if AI algorithms can study historical data and create forecasts. Human experts can adjust plans based on their understanding of market dynamics, for example, if AI predicts a spike in demand for a certain product.

Enhancing Decision Making

When AI and humans work together harmoniously, real magic happens. Entytle’s decision-makers have access to a wide range of tools for making informed decisions by fusing human judgment with AI-generated insights. By doing so, it removes the element of uncertainty and lowers the risk involved in making decisions in the dark, resulting in decisions that are ultimately wiser and more strategic.

Entytle’s foray into the field of human-AI collaboration offers a glimpse into the direction that decision-making will take in the future. The potential is infinite as technology develops and AI gets better. Businesses can stay ahead of the curve by utilizing data-driven insights to promote innovation, boost efficiency, and achieve sustainable growth through a balanced collaboration between people and AI.

Entytle’s fidelity to human-AI collaboration in data analysis emphasizes this cooperation’s disruptive eventuality, to add up. The company is paving the path for a future where decisions aren’t only taken, but also precisely created with delicacy, foresight, and a profound mindfulness of the data-driven reality. This cooperation is a giant vault toward realizing the entire eventuality of data in decision-making, not just a small step. Also, read about AI trends revolutionizing the way Industrial use to operate.

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

Aftermarket Leaders – Boost Executive Decision-Making with Unified Collaboration

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Nikhil Dudhawat

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Sep 2023

Aftermarket leaders of Industrial OEMs are today in a position to shape the future of the industry through efficiency and decision-making. The path to success depends on collaborative decisions, yet the tools meant to facilitate this often create a contradiction: they hinder quick, effective choices. Here we discuss these challenges, a solution that could reshape the unified collaboration landscape, and harness the power of seamless integration with popular communication tools available today.

A New Way for Unified Collaboration

Aftermarket teams through the Industrial OEM space use a variety of tools like – communication platforms, data analysis software, and project management systems – each with its purpose. However, these very tools designed to streamline collaboration & communication become roadblocks to quick and effective decision-making.

When Efficiency Tools Get in the Way of efficiency

Industrial OEM Aftermarket Team members are switching between tools, and guess what? Their productivity faces a silent decline. The effort required to switch between interfaces, recall credentials, and adapt to diverse workflows eats up precious time and disrupts workflow fluidity – a far cry from the intended efficiency.

This fragmentation slows down real-time decision-making. Tools intended to fast-track communication ironically delay access to critical insights. Imagine opportunities being missed while waiting for critical data & insights, thus delaying decision-making.

Empowered Decision-making with Easier Teamwork

But hold on, here’s the great part: Microsoft Teams comes into play. Imagine if all the information from different tools came together in one place. No more tool-switching, no more hunting for data. It’s like having all the pieces of the puzzle in one box. And guess what? This new way helps bosses work together faster, all in the comfort of Microsoft Teams that they already know.

Benefits of Unified Collaboration: Transforming Decision-Making

1. Elevated Efficiency
   

   Unified collaboration streamlines workflows, allowing Aftermarket teams to transition seamlessly between tasks. Freed from adapting to different interfaces, executives maintain their focus, elevating efficiency.

2. Real-time Insights
   

   Integrated tools provide instant access to data insights, enabling quick, informed decision-making. Aftermarket sales executives no longer wait for data to load or switch between platforms to access information.

3. Agile Decision-Making
   

   In a dynamic landscape, agility is paramount. Unified collaboration equips executives with real-time insights, enabling fast responses to emerging opportunities and challenges.

4. Igniting Innovation
   

   Without tool-switching hindrances, Aftermarket leaders could channel more time into strategic thinking and innovation. Accessible insights lead to creative problem-solving and forward-looking strategies.

What’s Next: The Exciting Future of Teamwork

Imagine an Aftermarket Sales team member battling fragmented tools and data delays. The introduction of unified collaboration using communication tools redefines their way of working. Real-time insights during discussions arm the executive with data and insights to make swift, informed decisions, translating into improved customer experience and elevated efficiency.

The realm of collaboration tools is evolving rapidly. Enterprises grasp the need for solutions that prioritize real-time insights. Unified collaboration leads this evolution, redefining communication & collaboration as an impactful, tangible reality.

The challenges posed by fragmented collaboration tools are undeniable. For Aftermarket executives in Industrial OEMs, it’s really important to close the gap between “what collaboration could be ” and “what it actually is”.
A truly Unified Collaboration tool would emerge as an Innovative solution, overcoming tool-switching friction, driving real-time data-driven conversations, and guiding decision-making toward quick results.

So the question now is: Are you ready to harness the power of a unified collaboration revolution and reshape the way collaboration empowers decision-making? Your answer could pave the path to excellence, fueling your organization’s journey toward an Aftermarket future defined by integrated insights and unparalleled achievements. 

Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.

A Simple Guide for Industrial Wallet Share

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Tejas Dhokane

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Aug 2023

Are you an Industrial leader looking to unlock untapped revenue potential? Do you want to gain a deeper understanding of your customer’s buying behaviors? If you’re nodding your head, then you’re in the right place! We’re introducing you to the game-changing concept of “wallet share” and how it can propel your industrial success.

Imagine this: Businesses allocate a staggering $2 trillion annually to maintain and operate their equipment. A significant portion of this spending caters to parts, services, and consumables. However, a chunk of this potential revenue often slips through the cracks due to the “Entitlement Gap.“

This gap emerges from a lack of clear insight into how customers use their equipment. Determining “Wallet Share,” which signifies the portion of a customer’s spending captured by your business, is far from simple. With numerous customers operating diverse equipment featuring numerous components, predicting part needs and timings resembles an unsolvable puzzle. Adding complexity, many manufacturers struggle to gauge equipment usage – measured as the “Duty Cycle.“

Uncovering the True Power of Wallet Share

Now, let’s dive into the exciting part. Unleashing the real power of wallet share is much more than crunching numbers. It’s like finding hidden treasures, making smart suggestions, and getting the most bang for your buck. With some high-tech data magic, you can:

Find opportunities by identifying wallet share gaps

Discover where you could make a lot more money by seeing where you’re missing out.

1. Recommended items to cross-sell

Suggest things that go hand-in-hand with what your customers already get, which makes them happy and your business too!

2. Prioritize the efforts for maximum ROI

Spend your time and energy where it really counts to get the most from your investment.

3. Use Data Wisely

Make super precise offers backed up by data to give your customers exactly what they need.

4. Turn Old Stuff into Gold

Use past buying patterns to sell off the stuff you have left, even if it’s not the newest thing around.

Navigating through Complexity

1. Dealing with Different Situations

Tackling various ways customers use your stuff.

2. Differing part failure rates

Handling how often different parts break down.

3. Hundreds of parts per machine

Wrangling all those different pieces.

4. Differing service cycles

Adapting when customers need help.

5. Differing operating and maintenance practices

Figuring out how different folks use and maintain their things.

Real-Life Stories of Success

Let’s delve into the real-world impact of the approach

Example 1: Maximizing Revenue Potential 

A prominent systems supplier in sectors like food, beverage, and pharmaceuticals aimed to bridge the gap between projected and actual revenue potential for their machines. With data-driven insights, they pinpointed a low share of wallet customers, triggered growth opportunities, and reaped the rewards of strategic engagement.

Example 2: Boosting Consumable Sales

In the biopharma and life sciences domain, an instrumentation company aimed to amplify. They identified customers who should have purchased high-wear consumables. By targeting existing customers, they expanded wallet share and revenue.

Measuring Wallet Share and Cultivating Loyalty

Beyond enhancing wallet share, data-driven approaches empower you to measure customer share of wallet and evaluate loyalty. This understanding distinguishes loyal patrons from those needing more attention.

In summary, its approach is your gateway to unlocking untapped revenue streams and deeply comprehending your customers. Empowered by data-driven insights from Entytle Wallet Share, you’ll tap into revenue streams you never knew existed. If you’re poised to elevate your industrial success, embrace the journey – where understanding customers leads to revenue growth. Furthermore, in order to grasp the ways in which wallet share can fuel revenue growth and foster customer loyalty, we encourage you to view this enlightening video. In the video, Vivek Joshi will uncover the hidden strategies behind maximizing share of wallet.