Big data is all the rage right now, and while it may seem like just a buzzword, there are real, tangible benefits to incorporating data into your business’ processes. One of those benefits is the ability to more easily collaborate across your company and the shooting sports industry.
Several industries have already embraced collaborative data sets to collectively solve problems they face and grow their impact. And the shooting sports industry now has the opportunity to do the same through innovative data platforms like SCOPE.
Many manufacturers, distributors and retailers have been collecting and analyzing data in some form or another for years. But have you harnessed its power for collaboration? Sometimes, it takes the right tool.
One of the main reasons companies resist data sharing with others in their industry is the fear that it will reduce their competitive advantage. But a good, collaborative data set will offer the right amount of privacy and control, allowing the user to have access to some metrics that are only visible to them, while others might be shared with the industry overall. SCOPE DLX, for example, shows big-picture data in graph form that’s visible to all users without naming specific manufacturers or distributors. More specific units sold, dollar amounts and market share are only visible to that organization.
Once you have the right data platform in place, it can open up a whole new world of possibilities to discover insights for your company and elevate the shooting sports industry overall. Here are just some of the benefits of data collaboration.
Collaboration Within Your Company
Sharing data across your company is a great way to start conversations about what’s working and what’s not, spurring innovation and collaboration. To gain the most value out of your data set, make sure more than one person is looking at your data. Ideally, you’ll have members of each department looking at the data you collect, as each person will take something different from it, drawing new insights or noticing different areas of weakness.
You can also merge broader industry data like SCOPE with your own, more specific data sets to glean new insights. For example, your marketing team and sales team likely already have their own data sets, and shared industry data can add a new layer of perspective, allowing those teams to see how their work interacts with the industry as a whole.
Ultimately, increased collaboration through data can lead to evidence-based ideas and solutions. It can help you identify your strengths and weaknesses compared to the rest of the industry, and how various departments in your company can help address them.
When it comes to identifying industry-wide setbacks and forming solutions, looking at data is one of the best ways to do it. For example, if you start to see sales drop for your business, you might wonder, “Am I the only one having this problem, or is this something larger, affecting the industry as a whole?” Collaborative data like SCOPE’s can answer that question. The answer will either drive you inward to issues within your organization, or to consult with your industry partners about what might be happening and how you can all deal with it together.
Collaborative data found through SCOPE DLX and SCOPE CLX is also a great way to strengthen partnerships in the two-step distribution chain. Manufacturers can view data from their distributors and retailers, comparing which ones have shipped or sold the most of their products, both in terms of units and dollars. Understanding how your products perform with partners can help you strengthen those relationships that are already doing well, or further foster and support those that you want to see improve. It opens the door for collaboration with your distributors and retailers so that you can all reach your common goals: more sales and higher profit.
In a broader sense, shared data has the power to lead to continued innovation in the shooting sports industry. There’s potential to generate new industry standards or methodologies that can improve efficiency. And that’s precisely what the National Association of Sporting Goods Wholesalers (NASGW) is after – sustained growth and improvement of the shooting sports industry.
Partner With NASGW SCOPE
Make NASGW your partner for data collaboration. As a data platform created by the shooting sports industry, for the shooting sports industry, you can be sure it’s the most accurate data input available in the shooting sports industry right now.
As a non-profit industry association, NASGW built SCOPE to advance our industry’s ability to collect, standardize and analyze data that benefits businesses – not to make money or meet our bottom line. Because of this, we make decisions about SCOPE with our members in mind, using the feedback they provide us. This helps us create data tools that are more applicable and user-friendly to our industry partners.
Learn more about the SCOPE suite of tools and see how it can bring new insights to your business.