The data your machines generate present a huge opportunity. From performance metrics to predictive maintenance insights, this data can transform after-sales service, strengthen customer relationships and create new revenue streams.
Yet, many machine builders struggle to "sell data", and it’s holding them back from fully embracing the potential of data-driven business models. Let’s dive into why this happens and how you can turn this challenge into a competitive advantage for your business.
Challenge: Machine builders sell machines, not data
You are an expert at designing and manufacturing industrial machines, but translating raw machine data into actionable, customer-facing value requires a different skill set. Here are the key barriers:
- Lack of expertise
Many machine builders don’t have the in-house knowledge to turn data into insights that customers will pay for, such as predictive maintenance alerts or uptime optimization reports.
- No customer-facing interface
Without a branded portal, it’s difficult to present data in a way that’s accessible and valuable to end-users, leaving customers disconnected from the benefits.
- Security concerns
Sharing data raises valid cybersecurity fears. In 2023, 65% of manufacturing environments with outdated firmware faced attacks, highlighting the need for secure data delivery.
- Cultural resistance
Some machine builders view data as a byproduct, not a product. They focus on selling machines, not services, missing the shift toward data-driven models in manufacturing.
Opportunity: turn data into a differentiator
Imagine your machines not only perform reliably but also provide your customers with real-time insights to optimize their operations. By "selling data" machine builders can achieve significant benefits:
- Enhance after-sales service: Offer SLAs backed by predictive maintenance insights, reducing downtime and building trust with customers.
- Create recurring revenue: Package data insights into subscription-based services, turning one-time machine sales into long-term, profitable partnerships.
- Stand out in a crowded market: Differentiate your machines with branded data portals that give customers visibility into performance and maintenance needs, setting you apart from competitors.
How to make it happen?
Here’s how machine builders can bridge the gap and turn data into a competitive advantage:
- Invest in the right tools
Use a platform that simplifies data collection, analysis, and visualization. Solutions like IXON enable you to log data securely and turn it into actionable insights, no data science expertise needed.
- Prioritize security
Choose a platform with robust security features, such as IT/OT separation and role-based access, to share data in a secure way. IXON’s ISO 27001-certified platform ensures your data stays protected, addressing cybersecurity concerns head-on.
- Deliver value through branded portals
Provide customers with white label portals to access their machine data in a user-friendly way. This not only adds value but also reinforces your brand with every interaction, creating a seamless experience.
- Shift the mindset
Start thinking of data as a product, not a byproduct. Train your sales teams to pitch data-driven services as part of the machine’s value proposition, aligning with the Industry 4.0 shift.
The future is data-driven
Machine builders that learn to "sell data" don’t risk falling behind in a rapidly evolving market by delivering more value to customers and unlocking new business opportunities. At IXON, we’re passionate about helping you unlock the full potential of your data, securely, easily and at scale.
What’s your biggest challenge in leveraging machine data? Let’s discuss it.