One of my favorite business quotes comes from management guru W. Edwards Deming, who said, “Without data, you’re just another person with an opinion.”
At Channelnomics (formerly The 2112 Group), a specialist in channel research, intelligence, and strategy, we see this all the time. It usually comes in the form of someone starting a statement by saying, “In my experience…” – a telltale sign that they’re about to offer a position based on perception and not evidence.
Experience is a great teacher. Drawing upon the past and the experience of others, channel decision-makers can identify the options available to them for charting courses through routes to market. Experience, however, can’t provide critical pieces of information and intelligence to help determine the best or least risky routes.
Data provides clues about where to apply experience, and it’s the glue that bonds visions of paths forward with models that provide guidance and insights.
The problem with data and market intelligence is that it takes a fair amount of time and money to develop. It also takes expertise to craft the instruments that collect data and refine it into actionable intelligence. And it takes deftness to apply data in context to the specific needs of a business. Those requirements pose a challenge to decision-makers who need insights today, not eight weeks from now.
Based on feedback from our clients, Channelnomics developed Brainstorm, a member service that provides data-driven insights into industry trends, market conditions, and best practices across the technology channel. Brainstorm is the entry point to a vast trove of data developed and curated by Channelnomics over the past decade, giving channel leaders and decision-makers easy access to the intelligence they need to move forward with speed and confidence.
The reason Channelnomics created the Brainstorm program is because of narrative economics, or the socialization of ideas not based on facts. In numerous client engagements, we watched channel decision-makers constrained into poor strategic paths or proffering program ideas based on socialized narratives that sounded good but had little evidence to support them. Worse, we saw channel teams create presentation after presentation using randomly collected data that lacked relevance to their technology, channel programs, or sales models. They did look good on a slide, though.
Through Brainstorm, Channelnomics provides channel professionals with a resource to get the data they need to validate their strategies and partner programs. The data reinforces their constructs, improves their positioning, and gives depth to their value proposition and message. In cases where the data doesn’t fit the vision or strategy, Brainstorm provides the resources for making improvements.
The way Brainstorm works is unique. Members can access data and resources through the Channelnomics Databank portal – built in partnership with fellow Channel Marketplace member Webinfinity – or they can request data through our concierge service. With each request, Channelnomics kicks off a workstream to develop new assets for the program and shares with all members. Instead of playing into narrative economics, Brainstorms leverages the community’s questions to create more intelligence.
Data doesn’t provide answers, just evidence and guidance. Channel decision-makers need insights into market trends, partner attributes, and industry best practices to guide their strategies and choices. Brainstorm is the catalyst for better decision-making. As economist Charles Wheelan said, “It’s easy to lie with statistics, but it’s hard to tell the truth without them.”
For more information about becoming a Brainstorm member, contact the Channel Marketplace concierge for an introduction.