In the current insight-driven market, the ability to harness the power of data and analytics has become an essential for companies. As it stands, technical developments have made it easier to collect and visualize data, but in turn has also made it more complex for the end user regarding what to measure, and why.
For service providers and channel partners that succeed in offering a user-friendly yet powerful analytics solution, the market opportunities are vast.
The importance of data and analytics
For both channel companies and their customers it is important, and often crucial, to gain insights through quantifiable data. This is because the ability to make data driven decisions is no longer something that is a ‘nice to have’ feature.
“Businesses are realizing that accessible, tailored analytics are pivotal to being successful in the marketplace” says Johan Wendelstam, Product Manager at Dstny For Service providers.
As markets become more and more consolidated over time, optimizing and improving operations based on analytics has become a key strategy for many companies looking to ensure their survival. We see this spanning across multiple industries.
Channel companies and service providers not leveraging analytics are actively missing out on expanding their proposition and unlocking target markets.
Analytics must-haves and nice-to-haves
Having access to real-time data and basic analytical capabilities has been considered a bare minimum for enterprise companies for a long time. Now we see an increasing trend where even SMEs are looking to gain more valuable insights based on data.
Channel companies should be providing their customers with robust data collection mechanisms, data storage infrastructure, and user-friendly analytics dashboards.
For those with more advanced needs, advanced analytical capabilities are quickly becoming a must-have. This includes the ability to add new data sources and customize a mix of historic and real-time data, based on specific and complex parameters.
Create a compelling Analytics offer
A crucial aspect of an analytics offering for service providers is its ability to facilitate Average Revenue Per User (ARPU) growth and foster customer loyalty by delivering tangible value.
“It is essential for service providers to seek an analytics solution that enables a swift go-to-market rollout and supports white labeling. This ensures that the offering is truly their own” says Wendelstam.
By leveraging a module-based analytics platform, service providers can effortlessly incorporate multiple data sources into a single unified interface. This empowers them to provide a comprehensive solution that caters to the diverse needs of various businesses. Through the utilization of APIs, service providers can construct a platform capable of accommodating an unlimited number of data sources.
Dstny has already completed analytics integrations with Broadsoft, Microsoft Teams, the Dstny UCaaS module and several CRM systems. This means that service providers can seamlessly connect these platforms to the Dstny Analytics offering.
With Dstny Analytics, service providers can establish distinct customer setups that remain independent from one another. This enables end-customers to personalize their branding according to their preferences.
By offering an analytics solution that can be sold either as a standalone product or as part of an existing ecosystem, service providers can unlock new market possibilities and cultivate stronger customer loyalty within their existing customer base.
Upcoming trends that will shape the analytics landscape
At Dstny, we anticipate that several trends will dominate the analytics space in the next few years.
Augmented and sentiment analytics, powered by machine learning and AI will become more prevalent. This will enable businesses to uncover deeper insights and make data driven decisions, all with a deeper automation and minimal human involvement.
On top of this, the adoption of integrated analytics is set for rapid growth. Full integration will enable businesses to access insights directly within their workflow, eliminating the need for separate analytics tools and allowing for a more unified workspace.
Furthermore, the increasing focus on privacy and data governance will drive the adoption of secure and compliant analytics solutions.
Looking even further ahead, the rise of edge computing and the Internet of Things (IoT) will result in a surge of data generation. Analytics will play a critical role in processing this massive volume of data in real-time, enabling businesses to extract actionable insights closer to the source.
“The fusion of analytics with other emerging technologies such as blockchain and 5G will unlock new possibilities for data sharing, transparency, and advanced analytics applications across all industries and geographies” says Wendelstam.