We’re beginning to see some amazing trends from the financial intelligence gathered in Corelytics that are being used by software vendors, industry associations and business advisors (our channel partners) like Level Platforms and industry associations like USAV.
Just as an example, we can tell the Audio Visual Industry that over the last 24 months the Cash balances of the typical business has decreased by 49.2% (blue line in graph) while in the IT services industry have increased by 30.7% in this same category (red line in graph).
And in conjunction, over the same period Revenues for the Audio Visual industry have gone up by 10.8% and in the IT services industry by 10.9%. For those of us who are not financial gurus (me included) this means Revenues in both industries are growing at about the same rate, but Audio Visual companies are burning through cash much faster.
In another example, the predominant association in the Audio Visual Industry, InfoComm is working with us right now and will share their recommendations and conclusions with their community soon. Since we don’t get this information from surveys, but real active Profit & Loss statements from companies in the industry that agree to let us use their information for statistical analysis, we know these are as reliable and up-to-date trends as anyone can find.
Today, our channel partners and those we hope to serve in the future are flying blind; wasting precious marketing money, support resources and time trying to ‘address the pain’ of their customers and members, but causing more pain in the process. Our mission is to change this situation.
The time to tap into the river of data that is on computer systems is here! We are trying to make it easier for small business owners, industry associations and software vendors to get better visibility into problem areas and successes so they can make better decisions about what strategies they’re employing to help their customers and members improve and avoid pitfalls.
As I’m reading The Lean Start Up by Eric Ries a book about the ‘movement’ in management to build and launch better products, it reminds me Corelytics is part of this movement and bringing visibility to business owners and our partners.