Every channel chief knows that sound channel reporting and meaningful insights are vital to their organization, but they often face serious challenges in accomplishing their objectives. Many companies in the high-tech industry generate up to 90% of their revenue through channel partners but lack the visibility they need to make smarter business decisions based on proper analysis of accurate date. This is due in part to the absence of a "single source of truth." Data is often scattered across many different silos and there is little discipline in governance resulting in "dirty data" and inaccurate reporting.
The first question we need to ask is: What is Channel Data Management?
Traditionally, the term "channel data management" refers to point-of-sale data. However, CDM is a more expansive concept that encompasses data points channel teams rely on to:
- Understand who their partners are and how they interact with them
- Classify and segment partners to understand their capabilities and how best to support and grow relationships with them
- Determine partner eligibility and access to resources and tools
- Measure performance to determine which partners are most and least valuable
A successful CDM strategy is all about creating a 360-degree view of your channel partners and their relationship and interactions with you and the channel, and contains the following key components:
- Channel Data Model
- Master Data Management
- Data Quality
- Data Management Process
- Data Governance
- System & Tools