Indeed, companies of all sizes can benefit from making their organizations more data-driven, says Paul St. Germain, wholesale distribution leader, IBM Corp., and co-author of the National Association of Wholesaler-Distributors book Facing the Forces of Change.

"It doesn't matter if you're a multibillion-dollar business or a $10m business," he said. The opportunities are there for both."

Unfortunately, distributors don't always know where to begin and often get overwhelmed with the surplus of advice on how and why to begin benchmarking.

"You've got data, you've got insights, but now what do you do?" St. Germain asked. "You must take action on the data."

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