- The massive potential value in using data across a wide range of use cases (sales, marketing, operations, service, support, product lifecycle, etc) – most OEMs are moving in this direction. Data regarding existing customers are typically the most valuable – having a proactive and value-add relationship with existing customers leads to greater loyalty and increased new equipment sales, as well as complete lifecycle offerings (service, parts, solutions, etc).
- Huge promise of new technologies such as Artificial Intelligence, Machine Learning, and even more foundational elements like BI, CRM, and task-specific tools such as pricing and inventory management. Unfortunately, all of these tools depend on data – which is typically terrible. Data that is disconnected, incomplete, inconsistent, unstructured, missing, etc. have led to 87% of analytics projects not making it to production.
- Traditional solutions have not been successful – with our research indicating that 89% of manufacturers have had at least one effort fail or underperform due to data issues… Massive IT projects such as ERP and CRM run over on cost and timeline and have high risk, with many projects failing to deliver intended benefits – and when implemented deliver lower value due to poor data quality which inhibits adoption. Master Data Management efforts are costly and often stall. Data lakes, warehouses, and analytics projects lose their focus, experience scope creep, and are often shelved. Budgets are changed, technology teams depart, and priorities shift – leaving a graveyard of abandoned projects.
- An Installed Base Platform, which is purpose-built for manufacturers and their customer + Installed Base data, can solve these challenges – from data quality and unification to purpose-built analytics and collaboration with the range of workflow technology required to serve customers.