Scaling an Insights Factory for B2B growth
June 4, 2018
From services to insights …
Amid the disruptions that are slowing B2B growth, technology and communications companies must enhance their core solutions to satisfy customers’ demands for better performance and faster, more efficient service. But they also need to develop new business models, revenue streams, value propositions and uses for existing assets. One of the most promising opportunities is hidden in plain sight—in the data of their B2B customers.
Accenture Strategy managing director Shivani Vora explains how companies need to develop new B2B revenue streams, new value propositions and new uses for existing assets.View Transcript
Because technology and communications companies manage the networks, sensors, circuits and infrastructures that facilitate the collection and flow of data, they are in a unique position to store, maintain, process and use the data of their enterprise customers across the data value continuum.
This continuum highlights the inverse relationship between the volume of data generated and the potential value of the data. At the bottom of the continuum, companies monetize raw data—usually with lackluster returns. At the very top, the highest-value opportunities and most innovative business models emerge. Here, companies aren’t monetizing data. They are monetizing actionable insights to enable new forms of interaction and better decision-making.
To tap this new revenue stream, companies should create an EBITDA-neutral data business to fund a low-risk business model based on insight monetization. The cornerstone of this model is an “Insights Factory,” which companies can establish to analyze the data of their B2B customers—and their customers’ customers. The Insights Factory harnesses numerous analytical models that can produce customized outputs to support a steady stream of use cases such as channel partner optimization, contract renewals rate improvement, and even Analytics- or Insights-as-a-Service offerings.
To pursue a B2B growth strategy based on the delivery of insights, companies should take four actions:
Accenture Strategy managing director Mark Gaylard explains how an Insights Factory turns raw data into highly valuable insights that can help B2B companies grow and make better decisions.View Transcript