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“A full 90 percent of all the data in the world has been generated over the last two years.”
- SINTEF, 2013
It’s no secret that there’s been something of a data explosion: big data is here to stay and it’s only going to get bigger. So, we’re not going to bombard you with stats on how much data is available, at your fingertips, to inform your sales strategy.
Because it’s the next step that is critical. This is where sales organisations are refining how big data is used for maximum effect. Using external data and internal knowledge to inform sales represents a huge opportunity to boost your pipeline, whilst pleasing your sales team.
Enter predictive analytics.
In one guise or another, it’s a practice that’s been around for a while, but is becoming increasingly relevant for B2B sales organisations, as it no longer requires an expensive team of data scientists. Analytics software gives you the capability to mine tonnes of data and then – critically – apply context. Meaning that your sales team have insights that are even more “actionable”!
Predictive analytics enables you to sift data at the most individual layer, whilst applying the learnings of group behaviour to discover patterns and relationships, informing predictions which were not previously clear. This ability to compare profile fit with historic actions can then proactively alert sales to combinations of users (market, need, etc.) and selling points (products, services, etc.) that have been successful in the past. Sales can target prospects with more of a keen eye and spend their valuable time out in the field selling to the right people, speeding up the sales cycle.
The rate of change within the enterprise is accelerating – without current, on-going data management tools, you run the risk of getting left behind. Your customers’ needs are evolving at an unprecedented rate – so the odds of your sales team calling on them at the right time, with the right solution, are slimmer than ever.
Use your valuable data with predictive analytics and you can look forward to better informed decision making. By knowing your customers better than they know themselves, you can cut out the slack, reduce the purchasing timeline and boost the bottom line.