The subscription economy is growing.
In fact, the global subscription eCommerce market is projected to reach USD 478.2 billion in value by 2025, growing at a CAGR of 68% from 2019 onwards.
This trend is part of a larger shift from a product-based to a subscription-based global economy.
This also means that if you’re considering a subscription-based model for the products you offer, you need to be able to effectively manage subscription data.
However, the road to a successful subscription-based business model can be challenging.
Therefore, in this blog post, we look at common challenges in managing subscription data as well as how Zuora helps you effectively manage this data.
So, let’s get started!
What Are the Challenges in Managing Subscription Data?
As a subscription-based business, you may be offering a number of products, product variations, as well as flexible subscription plans to prospects and customers.
This means handling data related to product trials, customer lifecycle operations & credit, refund requests, subscription upgrades, payments, as well as billing.
However, data multiplication and colliding data streams can result in tangled data, as well as complex data relationships.
Therefore, manual data handling is unlikely to help you achieve your goal.
There are multiple cloud/on-premise solutions that enable you to effectively manage and analyze subscription data.
Zuora is a cloud-based software that helps you launch, manage, and transform your subscription-based business.
Let’s discuss this in detail.
How Does Zuora Help Me Manage Subscription Data?
Zuora enables you to track data related to subscriptions, customer requests & feedback, billing, as well as account activity.
Here’s all you need to know about Zuora capabilities.
Native Zuora reports are limited to tenants with 50,000 or fewer customer accounts.
In addition to this, the dashboard feature is in limited availability and is not enabled automatically in your Zuora tenant.
Furthermore, Zuora Reporting does not support Custom Objects and Data Access Control.
This means that only users at the top-level tag in the Data Access Control hierarchy can access the Zuora Reporting application.
Such limitations make these reports an ineffective long-term reporting solution.
You can use the Data Export feature to export and download predefined data from your Zuora tenant.
In addition to this, you can create data and schedule reports from your user console.
You can then use the data in any reporting tool that accepts CSV-formatted files.
Data that you export is available for a week, in case you need to download it again.
However, export objects older than 90 days are deleted automatically.
The Zuora API enables you to seamlessly integrate data via middleware connectors such as Alteryx custom connectors.
These connectors facilitate a coding-free environment and allow you to pick and choose data objects and fields using a simple checkbox.
You can get the latest data and also automate your data fetch for incremental updates.
In addition to this, you can create a data flow based on your business requirements.
In this blog post, we looked at common challenges in managing subscription data, as well as how Zuora helps you effectively manage this data.
Zuora capabilities such as dashboards, data export, and API connectivity enable you to drive business growth with a subscription-based business model.
Manage and Analyze Subscription Data Effectively in Zuora
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