When you hear “business software” or “reporting” you may think of binders filled with spreadsheets, charts and footnotes. Perhaps conference rooms crammed with executives who are tinkering with slide presentations. What’s missing in these images is the potential for business value creation.
This is changing due to some of the digital technologies that are changing the future of reporting. Machine learning and cognitive tools will take over much of the mundane work of collecting data, creating reports, and then disseminating the results. This allows human workers to do more exciting work.
Utilizing pricing based on usage can also allow teams to gain more value from their data. This approach allows companies to better correlate the value of data with their spending, by reducing cost of accessing it.
Software companies need to rethink their principles for building, distributing, and charging for their products if they are hoping to win in the Age of Connected Work. The winners in this new age will redefine what is meant by “product-led” in the truest sense; they’ll use their products m&a platforms for industry benchmarking and market insights as engines for acquiring customers retention, growth, and even expansion. That will require a restored tactical focus and the willingness to expand their “as-a-service” offerings beyond membership rates. It will also require incorporating PLG into how they build and distribute their products. To stay ahead of the competition companies must build a complete ecosystem that includes strategy, stewardship and architecture, along with governance, in order to make the most of data.