008 Big Data Analytics for Wholesale-Distributor
Presenter: J. Michael Marks
Date: Sunday, March 8, 2020
Time: 1:00-4:30 pm
Level of Complexity: Advanced
Course Description: This course is focused on practical examples and useful models to improve decision making with big data for today’s distributor. It is about practical application, not theory, and it does not require a new software package to play. There is a great deal of bad information and hype on this subject. The basic principle is that better data in decision making improves the firm’s ability to make effective investments, increasing shareholder value. The course provides a series of specific examples of how big data allowed a distributor to gain a competitive advantage.
- Identify specific areas in their own firm where the application of big data tools can create a short-term improvement in financial performance
- Accurately budget the cost of a true data scientist along with required supporting resources and how to structure this function in their own firm
- Recognize and manage the resistance to change that comes from increased accountability and the diminished value of storytelling
Michael is a dynamic speaker, popular business author, and both an NAW Research Fellow and the Managing Partner of the Indian River Consulting Group. The boutique firm has worked with distributors of all sizes up to those over $40 billion in revenue per year. Mike sits on the boards of several distributors and provides arbitration and expert witness services for manufacturers and distributors in contract disputes.
Jaynie L Smith
Think you know your company’s competitive advantage? Think again.
Why should I do business with you … and not your competitor?
Whether you are a retailer, manufacturer, distributor, or service provider – if you cannot effectively answer this question, you may be missing the opportunity to maximize your potential customer base, client retention and margins.
The five fatal flaws of most companies:
• They don’t have a competitive advantage but think they do.
• They have a competitive advantage but don’t know what it is – so they lower prices instead.
• They know what their competitive advantage is but neglect to consistently and effectively tell clients and prospects.
• They mistake “strengths” for competitive advantages.
• They don’t concentrate on competitive advantages when making strategic and operational decisions.
Creating Competitive Advantage reveals that identifying and touting competitive advantages – based on your customer’s perspective – is statistically proven to help your company’s marketing and sales teams close more deals, at higher margins, and stay miles ahead of the competition.