Your data warehousing company is struggling to turn a profit. How can you turn things around?

When evaluating the costs, ensure to differentiate your direct and indirect costs. While cloud implementations ensure reduction of capex, make sure to accommodate for opex, and the resourcing costs for niche skills

The first step is to evaluate your current costs and identify where you can reduce them without compromising the quality. The second step is to understand your customers' expectations, and how you can meet them better than your competitors. Data warehousing is not a one-size-fits-all solution, so you need to tailor your offerings to the specific problems and goals of each customer. The third step is to enhance your value proposition to your target audience. The fourth step is to diversify your revenue streams. DWH is not only about storing and managing data, but also about creating value from it. The fifth step is to innovate and adapt to the changing needs and demands of your customers. Also you need to keep up with the latest trends.

To begin with start analyzing your costs and look at various optimization strategy. One suggestion for example if on-premises costs are high, move into the cloud Secondly Workload Management. Make use of intelligent automation tools Another approach would be incorporate data quality improvements and control systems which would not corrupt data warehouses

Cost assessment is not just limited to cost of hardware - it should be strategic - partner with cloud computing companies to get deal to provide cloud based solution for customers and make your price up to 25% cheaper that the SaaS based on prim - identify internal cost reduction - employee travel, ( evaluate must have travel that is coupled with value realization ) - take feedback from fields sales teams to improve strategy - talk to the existing customers ( especially advocates of your solutions, to understand how your solution and customer support can be improved) - identify lower cost service delivery model to improve margins ( nearshore or offshore support)

Profit is the direct reflection of a clear business strategy to position revenue generators and solving business problems to bring in more customers. Would like to start by 1. Strategizing based on the biggest customer potential with the products owned 2. Identifying revenue generators, and invest in increasing that 3. Evaluating the overall cost and understanding the must, good and nice to have's 4. Clear hardware/IT decisions which improves the speed, cost reduction and effective use of technologies 5. Employee's skill vs will evaluation

Understand the customers needs and challenges. capture the right data elements and perform analytics to enable data driven insights and solutions. How soon you can generate insights from the given data and help customers to understand and act on the insights will set a path for positive growth

Understand your customers: Conduct market research to gain a deeper understanding of your target audience. Identify their needs, preferences, and pain points. This will help you tailor your products or services to better meet their demands and increase customer satisfaction. ?

Understand that when you are in this field you are in the data industry not just data warehousing. It's like saying trains are in the train industry, they are actually in the transport industry and have to compete with planes, ships and tuk-tuks. You are competing with operational reporting that has become stronger and stronger in source systems. Understand how the current data landscape works with your clients and how you can take their data to the next level and when it should stay in source or be virtualized to another layer.

It’s really simple . Know your customers , know their desires. Know their pain pain points . Build trust and credibility. Showcase your authority in DW field . Start with a free offer and increase engagement. You will turn around very quickly .

Conduct regular competitor analyses to understand what similar data warehousing providers are offering. Identify gaps in their services and leverage these insights to differentiate your offerings.

The key strategical move and actions what I performed in our organizations to enhance the value proposition of your data function, as follows 1. Align data initiatives with business goals. 2. Improve data quality and governance. 3. Use advanced analytics for insights. 4. Promote data literacy. 5. Enable self-service analytics. 6. Foster cross-functional collaboration. 7. Measure and communicate ROI.

Emphasize the unique benefits of your data warehousing service and why it outshines competitors. Showcase how your service facilitates desired outcomes like revenue growth, cost reduction, efficiency improvement, or insightful analysis. Highlight distinctions from other options by showcasing expertise, experience, or client testimonials. This clear communication of value will attract and retain customers, fostering business growth.

Enhance your value proposition: Evaluate your current offerings and find ways to differentiate yourself from competitors. Identify unique selling points that will attract customers and provide them with added value. This could involve improving product quality, offering better customer service, or providing additional features or benefits. ?

Showcase any unique or innovative features that set your data warehousing service apart from competitors. This could include advanced analytics tools, machine learning capabilities, or industry-specific solutions.

In the data warehousing industry, a strong value proposition is crucial for standing out in a competitive market. It's essential to articulate not just the features of your service, but the real-world benefits and outcomes that your customers can expect. By leveraging case studies and success stories, you can effectively demonstrate the tangible impact your service has on businesses. Furthermore, highlighting unique methodologies, advanced technologies, or exceptional customer support can differentiate your offering and resonate with potential clients looking for reliable and innovative data warehousing solutions.

Diversify your revenue streams: Relying on a single source of revenue can be risky. Look for opportunities to expand your product or service offerings, enter new markets, or target different customer segments. This will help reduce dependence on a single revenue stream and increase overall profitability. ?

1. Develop Custom Solutions: Create customized data warehousing solutions tailored to specific industries or business requirements. 2. Partner with Technology Providers: Collaborate with technology providers to offer complementary services. 3. Consider offering subscription-based pricing models for your data warehousing services. 4. Invest in Research and Development: Allocate resources to research and development to innovate and develop new products. By diversifying revenue streams through these strategies, a data warehousing company can increase profitability, mitigate risks, and position itself for long-term success in the competitive market.

Offer advanced data analytics services on top of your data warehousing solution. Provide insights and actionable intelligence to help clients make informed business decisions.

Asses and fine tune the current data warehousing system /model if consumes more resources in terms of man power, time, work load and so on. Build the Analytics system on top of DWH, perform the data mining on business products to understand the behaviour of Customer responses/Business revenue/Quality of product and improve the business policy according to customer's needs. Upgrade the DW technologies and build the model in regular interval to keep the business in trends.

Two things which is always missed in a typical DW project . First being PURPOSE - What are we trying to save doing this project, is it for employee time savings, or FTE savings, or Data Accuracy or Data Storage/Management. Until this is clearing doing a project is waste of money/resource/time. Second being CONTROL - Once the purpose is clear and the project is implemented; what control measures and being taken to maintain the project and if in real its been used as per the purpose of it.

Invest in hiring and retaining top talent with expertise in data analytics, data engineering, and related fields. Skilled professionals can drive innovation, improve product offerings, and contribute to the company's success. Invest in research and development to explore advanced DS and AI technologies, such as machine learning, natural language processing, and predictive analytics. Identify areas where these capabilities can be applied to solve complex problems or improve existing processes. Building in-house tools allows for greater customization, control, and cost savings compared to relying solely on vendor tools.

Continue to focus on providing an improved living for the mankind. Every problem has a solution and for every solution you need data. Data is the asset of future. Hence every single data should be seen as an opportunity. Here starts the Innovative approach.

Innovate and adapt: Stay ahead of industry trends and technological advancements. Continuously innovate your products, services, or business processes to stay competitive. Embrace new technologies, explore new business models, and be open to change to meet evolving customer needs. ?

Embracing innovative technologies like cloud computing and AI. This involves transitioning from traditional on-premises data warehousing infrastructure to more agile and scalable cloud-based solutions. This shift can lower infrastructure costs, improve data accessibility and scalability, and enable advanced analytics capabilities such as machine learning and predictive modeling. By leveraging cloud and AI technologies, the company can stay competitive, meet evolving client demands, and drive innovation within the data warehousing industry.

This is the only aspect that can act as a differentiator for you in a flooded market. Revenue is not just providing services and receiving money. We need to find ways to optimize the services offered, adapt to the growing data needs of the customers and innovate continuously to offer differentiated services to the customers. As an org, we need to ascertain what's new we can offer in our service catalogue, how we can provide storage and compute at a lower cost without impacting the performance. One area where orgs can really innovate is to provide data and visualization with the warehouse service so that customers do not have to use multiple services. Have a motivated innovation team working continuously to bring differentiated services.

Collaborate and network: Build strategic partnerships and collaborations with other businesses in your industry. This can help you access new markets, share resources, and leverage each other's strengths. Networking with industry professionals and attending relevant events can also provide valuable insights and opportunities for growth. ?

Participate in online forums, discussion groups, and social media communities dedicated to data warehousing. Platforms like LinkedIn, Stack Overflow, or specialized forums offer spaces to share insights, ask questions, and connect with like-minded professionals.

To improve profitability, focus on streamlining operations, reducing costs, and enhancing marketing efforts to attract more clients. Additionally, consider diversifying services, exploring new markets, and leveraging advanced analytics for better decision-making.

Retaining talents: while every organizations going through the phase of making it profitable lose focus on the key element “people” who can make it happen. It’s crucial to keep them involved and aligned to the roadmap and motivate them to contribute for organization success

In my view, regardless of the industry, if a business isn't profitable, there's likely a fundamental issue with the business model. It's essential to reevaluate our approach, including our target market, their needs, preferences, and demographics. We must refine our value proposition, pinpoint a competitive niche, and reassess our strategic direction. Additionally, we need to stay attuned to shifting market dynamics and be flexible in adapting our business strategy accordingly. In summary, addressing these factors alongside other crucial considerations (discussed by other contributors) is paramount for turning around a struggling business.

Most organisations do heavy hefty value propositions and most of them fail here as they show Porsche to clients and deliver Toyota and this is continuous process ! I do sometimes feel , in the process of strengthening engagement / businesses with clients ,people get carried away in making models complicated rather than solving complex Business problem with a simplified model solution ! And henceforth propose/ launch advanced tools that are not even needed or fit the requirement it self . The final transformation and the fact is that The Business problem itself would change or we shall try to fit in or tailor the actual Business problems to what we have delivered :-).That is tailoring the question itself according to the answer written !

To turn around a struggling data warehousing company, consider these strategies: 1. Analyze Costs 2. Improve Efficiency 3. Focus on Customer Value 4. Expand Offerings 5. Target New Markets 6. Invest in Technology 7. Optimize Pricing Strategy 8. Strategic Partnerships 9. Employee Training and Development 10. Financial Management By implementing a combination of these strategies and closely monitoring performance, the company can work towards profitability and long-term success.