Are you truly data-driven?
All companies today are data-based, but are they data-driven? In this post we’ll go over the differences between the two expressions. You’ll also get insight on how you can become truly data-driven. Why does it matter whether your business is based on or driven by data? Most businesses are data-based and pull on a lot of available data. But if they aren’t using that data to make accurate predictions and valuable strategies for the future, they aren’t exploiting the true value of it. So can you claim with confidence that your sales process is driven by data?
When are you only data-based?
In today’s world anything digitized is data-based. Therefore most organizational practices can claim to be data-based. But this is not to be confused with being data-driven.
The analysis is your roadmap
A common data-based approach is using CRM systems with customer lists imported from external partners. This gives you a good grasp of the past. But you wouldn’t want to drive your car with your eyes fixed on the rear-view mirror. In the same way you need some solid indications of what the road ahead looks like for your business. If your goal is to be a leader in your industry, you need to embrace data 100% in your entire organization. Setting up KPI’s and sticking to them isn’t enough. You’ll need to analyse your data to learn from them. Once every crucial decision in your organization can be traced back to data analysis, you’ll be on the right track.
…And what is data-driven?
Level up your decision making with machine learning
Quality data helps you ask the right questions. Analysis lets you begin to see the answers to them. That’s why you need an objective analysis instead of gut-feelings and personal anecdotes.
What got your business to where it is today might not be enough to help you reach your goals for the future. One winning strategy is to replace guesswork and manual note taking with machine learning. Your subconscious might give you a correct hunch once in a while, but our AI platform will supply a comprehensive analysis of all the available data.
When you base your decisions on analysis and predictions (made with trustworthy data) you’ll know who to call when – and with which offer. Then you can rightfully claim to be data-driven. And what’s more, you will start to see serious growth in sales.
Machine learning and artificial intelligence are complex concepts to grasp. Luckily, you just need to understand their benefits. Humans are so good at spotting patterns, that we often find ones that aren’t even there.
Artificial intelligence isn’t plagued by the kinds of biases that the human brain is. So when you let AI learn from your data, it’s like getting the help of an endless row of Einsteins with supercomputers – and no feelings to disturb their work. In other words, a fully data-driven approach means taking decisions solely based on what the data tells you and saying no when your guts tell you differently.
How can you become truly data-driven?
Continuous machine learning to improve your decisions
Our platform helps you look for real patterns. And without any other input than the available data it will constantly improve the value and precision of its predictions. The most valuable prediction our platform gives you is the prediction of who to call when with which offer. This inference comes from a combination of more than 100.000 data points gathered all over the world. And the AI is continually improving upon itself.
Most businesses will collect these kinds of data:
- Buying signals
- Behavioral patterns
- Technographic (market segmentation)
- Firmographic (industry, size, location etc.)
- Customer relationship data (from their CRM)
Precise profiles and predictions
OThe output is a precise profile of your ideal customer and predictions of which of your offerings will help them the most when. This will help you build a solid business. In other words, your market will be segmented in a data-driven manner, as opposed to gut feeling interpretations. You may have tried calling potential customers that you felt were ready for your pitch. But how many times has that feeling been proven wrong? With our solution you’ll know exactly when they’re ready – and for which offer. Whether it be an influx of new employees, opening of a huge account or other big shifts within the organization of your ideal customers, you will be able to know exactly why you’re calling them. This elevates your hit rate and can even help your sales team prepare for sales calls with intel about the potential customer’s current reality. It will free up energy for creative thinking in other areas, when your sales reps always have new and highly qualified leads on their list.
What got you this far isn’t what will take you to the next level. Hintly is.
“We came to our current position by means of blood, sweat and tears. To excel any further, we need to exploit our data. Hintly lets us do just this,” said one of our customers. Stop wasting time and burning out your sales staff on lost opportunities. With our solution you’ll clearly see viable opportunities and achieve wholesome growth without wearing your organization down.
Get in touch and experience the benefits of making your organization truly data-driven.