The answer to these challenges lies at the intersection of people, processes and tools. While the motivations have existed for a while, even if they had the right set of people in place, organizations simply did not have the tools to effectively sell to their installed base. With the advent of big data and the emergence of AI, the tools for a true system of intelligence are now beginning to take shape. We're talking about systems of intelligence that enable manufacturers to effectively identify who their customers are, connect with them in meaningful ways, and to engage with them through the entire lifecycle of the asset. We're talking about end-user applications that provide actionable insights to sales, marketing, and service functions and directly drive customer engagement and ultimately, top-line revenue growth. Installed base management platforms CRMs currently offer out of the box solutions for service and sales data collection and visualization, while also providing companies with the tools they need to manage inbound service request. IoT vendors have been trying for a while to solve this problem, but struggle with year long deployments, data streaming permission, as well as change management issues.
Other companies, like Entytle, are taking a different route. By applying AI and machine learning algorithms to massive amounts of historical and new customer data, their platform - Entytle Insyghts - makes sense of and enriches all ERP, warranty, CRM and service contract information to provide enhanced visibility into the installed base and predictive business insights. This enables service, sales, and marketing professionals to proactively sell services and parts rather than waiting for the phone to ring.
Vivek Joshi is the CEO and founder of Entytle, a Palo Alto-based company that helps B2B manufacturers increase customer loyalty and lifetime value. Entytle Insyghts, the first AI-driven platform for Aftermarket Engagement, assembles data from multiple systems, and processes that data to identify usage patterns and customer segments, deliver opportunities, and drive revenue from installed base.