4. The Big Data Profit Train is Leaving the Station

Big Data, Index, Profit Analytics, ,

Google this New York Times article: “Finding Ways to use Big Data to Help Small Shops”. Or, click here:

Then, get your brain cells in gear about ways to use Big Data to improve profits for both you and your customers.

The article starts with a story about a kid – running a family car wash – who came up with a way to put sensors on the barrels of different chemicals they use. Instead of measuring levels with a stick twice a week, they now get continual data points on all barrels at all six family car washes. They never run out and they catch leaks right away. They then: “send a PDF of a purchase order to one of our local suppliers or an online supplier.”

Why didn’t a local distributor figure out this application and install it for all of the bigger car wash customers? Wouldn’t you like to get 100% of a customer’s business on a large summary electronic order basis? Are any carwash-chemical-distributor readers out there? You could STILL pursue this opportunity, because surveys tell us most small businesses are just waking up to Big Data.

The article quoted these survey stats:

  • In 2010, 1.7 percent of companies with less than 100 employees had Big Data Solutions.
  • In 2013, 9.2% had such solutions.

Are you part of the 10% using Big-Data to find waste to turn into profits for both you and your customers? Or, is a competitor finding this gold first while you continue to fine-tune what you’ve always done?

Every distributor can use Line-Item Profit Analytics (LIPA) to measure the efficiency and effectiveness of every customer’s replenishment buying activity.

With LIPA, you can pinpoint hidden buying inefficiencies that you can retune for each customer.

Helping customers re-tune their buying:

  • reduces activity costs for both of you;
  • boosts the customer’s uptime due to less stock outs; and
  • wins you more share of the account.

Sell more on a higher, net-profitable basis!

Don’t re-invent LIPA. Learn more about Waypoint’s Line Item Profit Analytics (LIPA) Management Service — aka Quantum Profit Management.  Request a demo and we’d be happy to see how it can help boost your profits quickly and easily.

Better yet, attend the “Advanced Profit Innovation Conference” (October 1-2 in Scottsdale, AZ) which is all about putting Big Data to work for distributors (visit www.ApicConference.com).

Lastly,stop reading in the NY Times about how both your competitors and customers are getting the jump on you.  Isn’t it time THEY started reading about YOU?