By Stephanie Meloni
Market Intelligence Consultant
immixGroup, an Arrow company
Data is everywhere today, driven by the digitization of just about everything. As a result, the data and analytics space is one of the fastest growing technology areas in the industry. Opportunities abound, because the majority of businesses are not currently using their data to their full advantage – or, not even at all.
Understand Your Customer
To effectively sell data analytics, it is imperative that you understand your customer. This not only includes a technology maturity perspective, but also an understanding of the decisions your customers need to make regarding the data they are collecting. Your customers should view data analytics as a transformative technology that will help them to effectively compete in their markets and even gain a competitive advantage.
It’s your job to show your customers how to make their data work for them. In the process, you will understand their pain points and help them add new capabilities. When your customer sees success, your business will also grow.
The data analytics market is dynamic due to all the new technologies that are constantly being introduced. It is important that you and your customers think long-term and have a grasp of where they want to be in the next few years. Selling data management and analytics technologies is an iterative process. You won’t be able to address all of your customer’s needs at one time. Instead, you should help them establish solution building blocks over time. This requires working with vendor partners to develop total solutions, which is something Arrow is very good at.
The most disruptive technology trends in the data and analytics marketplace are internet of things, cognitive computing, machine learning and artificial intelligence.
Let’s start with internet of things, which is THE biggest trend and technology driver for data management and analytics. IDC says that by 2025, there will be over 80 billion connected IoT devices – that are going to generate over 162 zettabytes of data! Just to remind you, one zettabyte could fill 1,000 traditional data centers!
Since everything will be connected, it will cause significant changes to the scale, speed and structure of data management and analytics as we know it. The connectivity of all these devices will create needs for more data, at greater speed and diversity — which means users will be faced with a whole new host of challenges. Speed will be a key factor in IoT analytics, because the older the data becomes, the less useful it probably is, thus ramping up demand for real-time analytics.
One of the biggest challenges will be with your customers’ current infrastructure, and this is how cloud will come into play. Many companies have legacy infrastructures that are hardware-centric and rigid. It doesn’t allow for the flexibility that IoT requires. When you sell IoT solutions, you should steer your customers to a multi-pronged infrastructure that is cloud-based, agile and scales on demand.
Let’s move onto the other technology trends affecting data and analytics. Analyst firm IDC estimates that revenues for cognitive and AI solutions in the U.S. will reach almost $10 billion in 2017, with a CAGR of 50% through 2020. This spending includes the big growth areas of cognitive application and AI software platforms that organize and analyze structured and unstructured data.
As a reseller selling cognitive applications and AI software platforms, you should consider focusing on banking and securities, fraud investigation, automated customer service, threat intelligence and prevention, and public safety and emergency response. Healthcare is another opportunity with pharmaceutical research, diagnosis and treatment systems rapidly adopting the technologies.
What Arrow Can Do for You
Arrow can help you implement IoT solutions by assisting with design, infrastructure and hosting – basically, every component that touches IoT end-to-end. Arrow offers a flexible approach depending how mature your customers are with their IoT solutions and what they want to achieve with their data.
Arrow also offers its partners Streamlined Sales Pipeline Development to help target potential customers and increase market share. The SSPD provides market trends, competitive intelligence, and net new end-user and partner targeting.
SSPD gives you big picture market trends and analysis of your install base, all the way down to transactional-level data that’s tailored for your products. This analysis will help you shorten your sales cycle and map out your business strategy. It also comes with a vetted contact list of whitespace end-users and resellers that fit your profile to help you get started.
If you are interested in learning more about SSPD or finding out how you can take advantage of the growing data and analytics marketplace, contact your Arrow representative.
Last modified: May 3, 2019