Struggling to make the most out of aftermarket data in the OEM sector? Read the latest Blumberg Advisory Group white paper on installed base platforms and find out why they’re essential to your future business growth.
If you want to know where the OEM industry is heading and how current data-gathering and analytics systems are failing companies as they transition to service-oriented businesses, read the new white paper from Blumberg Advisory Group.
The renowned business consultancy specializing in manufacturing and third-party service provision has just released a new report on the importance of emerging installed base platform technology for original equipment manufacturers (OEMs). Blumberg Advisory Group's study includes a recent survey of aftermarket service industry operators, combining both quantitative and qualitative feedback from participants.
Get the lowdown on installed base platforms and why they are the future of OEM operation. Build a better business with insight from Blumberg Advisory Group. More details at https://www.blumbergadvisor.com/installed-base-platforms
The newly published white paper is part of Blumberg Advisory Group's comprehensive collection of thought-provoking analyses and industry-leading commentary for the industrial OEM sector. The article explores the value of reliable installed base data for service market companies, highlighting how many businesses have failed to keep both their customer information and systems up to date over recent decades. Does this sound like you?
According to Law Insider, an installed base refers to the number of existing end-user customers who are already using a commercial product under a current and valid license. The rise of digital technology has seen data gathering and analytics become an essential part of any successful business, arming companies with information regarding customer satisfaction and options for aftermarket profitability.
The survey revealed that 67% of respondents indicated that the majority of their data resides in a variety of systems, making it harder to access and time-consuming to process. In turn, this compromises useful analysis and near-term growth initiatives. The report suggests there is a clear need among industrial OEMs for a unified, purpose-built, turn-key solution to installed base data management. Are you encountering the same issues? Losing valuable time trying to collate data from disparate sources?
Evaluating service costs and an overview of customer accounts and locations are the top two analytics metrics used by surveyed companies. Often, these are the only two data gathering categories that are supported by an OEM's existing software applications.
The report underlines the importance of an installed base platform - a purpose-built information and analytics solution that gives a comprehensive view of all your data regardless of which system it resides in. 87% of surveyed respondents indicated that they are likely to invest in such a system within the next year.
According to the white paper, these installed base platforms enable you to leverage data points such as customers' propensity to spend on parts and services, targeted hunting lists for new stock, upgrades, and modifications, and the identification of contract renewal opportunities.
"Companies interested in leveraging the full potential within the Aftermarket should consider implementing an Installed Base Platform," writes Blumberg Advisory Group. "This platform helps companies obtain richer intelligence and deeper insight into IB to increase revenue, boost profits, and deliver an exceptional customer experience."
Blumberg Advisory Group affirms its position as a thought-leader in the OEM space, offering critical insight in a period of transition for the industry. Read the report for free and in full now!
For more info, go to https://www.blumbergadvisor.com/installed-base-platforms
Learn why an installed base could be your saving grace. Think big and think better with Blumberg Advisory Group.
