Get value out of your data and start selling with science
You need insights from your customer data to enable sales growth – it’s the only way to stay ahead of the competition. But how do you get to those insights NOW? There are lots of hoops to jump through to access them with your existing systems – layers of IT business cases, approvals, budgeting, CapEx funding, and coming up with a big plan on how you’ll deliver, manage and maintain data collection and analysis. And don’t forget the daunting task of cleaning, filling in missing data and integrating data from disparate systems like your CRM, accounting and product systems, and a host of other databases across your organization.
All of that takes time and resources you probably don’t have – and plenty of negotiations, headaches and roadblocks along the way. So how do you get value out of your data quickly? Don’t build. Buy. Bring in an expert managed services team to do it for you.
The downside to in-house analytics
A lot of sales leaders assume having their own analytics team is an easier, more affordable route than a third-party partner. But when you break it down, you’ll see that bringing in the pros is actually a far more cost-effective approach. Here’s why:
Great people are hard to find. Data architects and scientists are in demand – it’s a field that’s growing faster than people can be trained for it. So landing them for an in-house role can be challenging.
In-house talent is expensive. If you do manage to hire, be prepared to pay a premium salary – and not just for one person, but for a whole team: you’ll need at least three or four people with a variety of skill sets. That comes with six figure salaries too. Plus, it doesn’t give you the flexibility to staff on demand. Add it all up, and an internal team gets expensive, fast.
For a quick cost comparison on outsourced and internal data teams, view this chart on Total Cost of Ownership Savings that can be achieved by using Gensquared’s Analytics Cloud™. Organizations can realize 60-80% savings in total cost of ownership (TCO) over hiring full internal data teams.
For in-depth analysis on salaries, access the TDWI Salary, Roles, and Responsibilities Report.
They need expensive tools. Don’t forget to factor in hardware, infrastructure, software and implementation – that’s another $300,000 a year, minimum.
It’s hard to determine if they’re competent. When you’re hiring for a role no one in your company is truly familiar with, how can you be sure they know what they’re doing?
They don’t know everything. The people you hire are only as good as what they know. If you need skills beyond that, you’re out of luck. With a managed services model, on the other hand, you get the collective knowledge of a whole group of experts.
The alternative? Lightning-fast ramp-up at a fraction of the cost
A managed services solution will cost about a THIRD of hiring your own team – and you’ll be up and running quickly with a built-in framework that will drive customer insights and can scale with your needs. You’ll have a team of experienced professionals who live and breathe data analytics, who “get” data integration, quality, modeling, architecture, governance and more. Plus, you’ll get the automation you need to process massive volumes of data. And you won’t have to learn through trial and error – your turnkey partner will already have done that, and will apply their insights and best practices to your business.
With infrastructure already in place, you get a speed advantage that you just don’t get with an internal IT group starting from scratch. In fact, you don’t have to worry about technology at all – just about using the resulting customer insights to help build your sales organization.
Mine your data for insights that drive sales
Gensquared solutions start with an initial data discovery and assessment that takes just three weeks. Then we follow up with an agile implementation of analytics technology that gets you to valuable customer insights – in as little as 60 days. Contact us for more information.