Are you leaving valuable industry insights on the table? Many equipment manufacturers are sitting on a goldmine of data through AEM’s Market Share Statistics program, but they’re not fully leveraging its power. And this is the part most people miss: it’s not just about accessing the data—it’s about knowing how to use it to drive smarter decisions. Let’s dive in.
In a recent eye-opening presentation at the AEM Market Share Statistics Conference (https://www.aem.org/news/statistics-professionals-gather-in-milwaukee-for-aem%E2%80%99s-2025-market-share-statistics-conference), Todd Snell, Vice President and COO of Hargrove Association Insights (HAI) (https://hargrovedata.com/), shed light on the untapped potential of industry data. Snell emphasized that while many AEM members (https://www.aem.org/market-share-statistics) rely on their own company data, they often overlook the critical context provided by industry-wide trends. Here’s the kicker: Your business might appear to be growing, but if the market is outpacing you, you’re actually losing ground.
"Company data in isolation can be deceiving," Snell warned. "Always measure your performance against the broader industry to truly understand where you stand." This simple yet profound insight highlights the importance of AEM’s Market Share Statistics, which offers members timely, accurate, and proprietary market data for the equipment manufacturing sector.
But here’s where it gets controversial: While most manufacturers use this data for competitive benchmarking, Snell argues it’s capable of so much more. From strategic location planning to emerging market exploration, data-driven insights can revolutionize how companies operate. For instance, by analyzing industry shipping trends, OEMs can pinpoint optimal locations for distribution centers. Or, by identifying segments with high potential but low market share, they can fine-tune marketing strategies to capture untapped customers.
Here’s a breakdown of how data can transform key business areas:
- Strategic Location Planning: Use shipping trends to decide where to build distribution centers.
- Production Planning: Evaluate industry shifts to determine if production adjustments are needed.
- Marketing Efficiency: Analyze data to maximize ROI on marketing budgets.
- Distributor Management: Identify top-performing sales channels.
- Emerging Markets: Spot growth opportunities and align product development accordingly.
- Customer Segmentation: Target high-potential, low-share segments with tailored marketing.
- Event Planning: Use seasonal sales data to choose the most profitable trade shows.
- Product Development: Benchmark products to uncover performance gaps and opportunities.
- Incentive Management: Optimize dealer incentives with factual data.
Yet, simply having access to data isn’t enough. Companies must also identify why and when to act on it. For example, consecutive periods of declining market share should trigger a proactive strategy, not panic. As Snell puts it, "Data without action is just noise."
HAI’s iSTAT (https://dev.aem.org/getmedia/03fb958c-c850-41bb-ad8a-e9046f41a84c/HAI-iStat-Data.pdf) platform, which powers AEM’s Market Share Statistics, makes this process seamless. Included in AEM membership, iSTAT allows companies to create standardized reports and dashboards, ensuring data is always at their fingertips.
Here’s a thought-provoking question for you: In an era where data is king, can manufacturers afford to ignore the deeper insights it offers? Or is sticking to surface-level analysis a recipe for falling behind? Share your thoughts in the comments—we’d love to hear your perspective!
To learn more about AEM Market Share Statistics or the conference, reach out to Jacquelyn La Favor at jlafavor@aem.org. Don’t just collect data—master it.
