How electrical suppliers are transforming using data analytics

According to IBISWorld the electrical wholesale industry generated $219bn in the last 12 months in the US, UK and Australia and has an expected annual grow rate of two per cent. Those using data analytics are reportedly getting a $9 return for every dollar spent. Here's how traditional electrical supply companies are transforming their operations with data.

Savvy electrical wholesale industry players are embracing a calculated and coordinated effort from all areas of the business to be successful. The pace of business and strength of competition has seen a need for data analytics in day-to-day operations. In this eBook we will review a number of business problems that data analytics helps to solve for electrical suppliers and distributors, from eliminating time-consuming reporting to speeding up the decision-making process. Here's how two mid-market electrical wholesalers are using data analytics to stay competitive:

Phocas helps managers understand customers and purchasing patterns

Phocas helps VP use data to make strategic decisions

Revere Electric Supply has been operating for 100 years but as the business has grown and changed, so has its culture and its IT needs. "Analytics is what we do, and with the right ERP, CRM and BI solutions, we are in a much better position because of our ability to use data to make more strategic decisions, " says Vice President, Mike Prepelica.

Purchasing can now identify dead inventory and make smarter inventory decisions earlier while the credit team can make faster decisions on ageing accounts. Prepelica noted a lot of effort going on in other areas of the business, including in the warehouse, where analytics has never been done. And the IT team is also building executive dashboards, testing a customer profitability module and is planning to build product hierarchy for sales specialists that will measure technical segments on the industrial side of Revere’s business.

Revere has streamlined access to data in a reliable and verifiable format while the simplicity of its data analytics solution has made it easy to roll out to users of all skill levels across the organization.