Changing the Game for MSPs

When the phrase Renaissance Man was coined, a single human could study the sum of all knowledge by visiting a particularly well stocked library. Well-studied individuals could become experts in most subjects through diligence and time. As human knowledge expanded, the amount of data also increased. In 2002, roughly 23 Exabytes of information was recorded and replicated. We now record and transfer that much information every seven days, and that rate continues to grow. It’s simply not possible for any single human to “know” everything as it once was.

When the phrase “Renaissance Man” was coined, a single human could study the sum of all knowledge by visiting a particularly well stocked library. Well-studied individuals could become experts in most subjects through diligence and time.

As human knowledge expanded, the amount of data also increased. In 2002, roughly 23 Exabytes of information was recorded and replicated. We now record and transfer that much information every seven days, and that rate continues to grow. It’s simply not possible for any single human to “know” everything as it once was.

With that, techniques for pulling insights from this massive collection of data have developed. Led by expensive data scientists, these machine-learning algorithms allow analysis across large amounts of data, and have typically been the domain of companies willing to invest big in big data. However, those willing to invest have seen tremendous success. Many leading companies that have reached the billion-dollar valuation mark–the so-called Unicorns–have benefited hugely from big data. Uber and AirBnB, for example, both rely on these data insights to drive their decisions. To most SMB-focused businesses, this kind of data analytics has remained out of reach.

Besides the massive investment in computational power and the data scientists needed to drive the analytics, most small companies don’t have the required size of data sets. Hundreds of data points simply aren’t enough–millions are required for true analytics and trends. This has left the promise of big data unrealized by typical MSP toolkit providers, particularly those who have a legacy from on-premise software.

LogicNow, with our 100% cloud-based architecture, has an enormous data set, powered by the world’s largest collection of MSPs. To take advantage of this power to help MSPs, we invested in a two-year, multimillion-dollar project to bring analytics to that data. This was realized last week with the unveiling of LOGICcards.

There are three kinds of analytics being used to provide the insights offered by LOGICcards:

Descriptive Analytics: Analytics that help you understand how things are going. Often, these give you a sense of what has happened, such as information to tell you that 100 midsize customers bought product X last year.

Predictive Analytics: Analytics that help you forecast future performance and results. This is the information that will tell you, for example, that 10% of your customers will grow to midsize next year and be eligible for up-sell to product X.

Prescriptive Analytics: Analytics that suggest a prescribed next step or action. These provide detailed insights, such as Customer A is up for renewal in 30 days and just reported higher earnings, offering a suggestion to up-sell to product X and pair with complimentary product Y.

Each level of analytics provides greater and greater value to the user, giving unique insights to drive execution. Up till now, MSP technology has been able to tell you what happened and has focused on reducing reaction times, or using past data to try and guess what might happen.

However, it’s the prescriptive analytics that’s the game changer here. Prescriptive analytics determine both what is likely to happen and the best course of action for an optimal outcome. This allows MSPs to identify and prevent issues before they even start, enabling solution providers to make smarter decisions.

LOGICcards is the first MSP-focused data analytics system and it’s built right into our products. This moves the MSP toolkit from what is ultimately a reactive position to a truly proactive one, where MSPs can actually anticipate future events and focus on an optimal outcome. This is game changing.

This data-driven approach is a major breakthrough, and we’re looking forward to exploring the future together.

Read more about LOGICcards and how it is evolving the MSP Landscape.

Dave Sobel, Director of Partner Community at MAXfocus, is responsible for fostering the growth and success of MAXFocus Partners. As Director of Partner Community, he helps promote collaboration, education and innovation among MAXfocus Partners and among the industry as a whole, ensures they have access to business, technology and market resources, and are utilizing the MAX Platform to achieve positive growth, enhance their offerings and become best-in-class solution providers. Guest blogs such as this one are published monthly and are part of MSPmentor’s annual platinum sponsorship.