Heavy Equipment is one of the most cyclical industries that moves hand in hand with the development of the global economies.
Good times favor infrastructure spending and private enterprise expansion, whereas slowdowns cause demand to shift to design and cost savings. This creates a difficult cycle of boom or bust for all the companies throughout the delivery chain.
Based out of western Canada, Finning is the world’s largest Caterpillar dealer. They sell, rent and provide parts & services for a diverse set of customers in the mining, construction, petroleum, forestry, and power industries.
Using analytics from the wRatings research, the executive team found customers shifting their priorities to add (not replace) site knowledge to their needs for equipment support. Future productivity gains in the workforce were going to require a superior understanding of what’s happening in the field. Executives embarked on a multi-year effort to build a data center that codified field knowledge and combined it with other data sources such as GPS, smartphones, wearables and drones. Within two years, the company doubled their market value by creating new sources of revenue, all while delighting their customers.