How can HD data help you achieve success throughout your sales funnel? Data can be a powerful tool in ensuring the success of a sales team—if it’s used right. Learn how here.
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In this article:
- Unlocking the Power of Data With Tech
- Turning Data Into Predictive Insights
- Turning Predictive Analytics Into Action With Predictive Insights
- Why High-Definition Data Matters
- Connect to HD Data With the Predictive Cloud
- Predictive Scoring of Leads and Accounts With HD Data
- Prescriptive Sales Activities With High-Definition Data
How HD Data Can Improve Each Stage of the Sales Funnel
Unlocking the Power of Data With Tech
Many people tout the benefits of data and its abilities to predict the future. While it certainly has that potential, data isn’t a Magic 8 Ball you can shake and suddenly get the answers you’re looking for.
In fact, data is very complex by nature. It can be too big, unstructured, or just plain messy.
Many organizations waste a lot of time and effort trying to capture and organize it.
In order to obtain real benefit from data, organizations need technology that can extract the right information and package it in an organized, consumable way.
Turning Data Into Predictive Insights
Most conversations around data also involve predictive analytics, but people wrongly mix up the two.
- Data, or big data, refers to the ever-growing repository of information.
- On the other hand, predictive analytics is the rigorous analysis of data for the purpose of distilling meaningful insights that can serve as a prediction of future outcomes and trends.
Data scientists frequently find themselves limited by their access to rich datasets, and their work is often mired in the mundane efforts of data cleansing and normalization.
It’s tough to find rich historical and continuously fed datasets, but they serve as the foundation for the most powerful predictive insights.
Turning Predictive Analytics Into Action With Predictive Insights
What are predictive insights? They’re actionable views in a company’s sales processes.
Companies can execute predictive insights based on predictive analytics. They can use the knowledge they gain analyzing previous trends and turn it into action.
With high-definition data, you analyze how past trends could affect the future. You can also come up with best practices based on what the data says works.
Predictive insights are a way to drive your goals in the right direction. Of course, none of this is possible without high-definition data.
Why High-Definition Data Matters
There are a lot of organizations offering predictive solutions and promising to improve sales outcomes. However, the real strength of a predictive engine isn’t just in the engine itself, but the data that feeds it.
One of XANT’s distinct competitive advantages with its predictive engine, Neuralytics™, is that it has access to HD Data™. HD Data is massive amounts of timely and accurate data blended together from multiple sources.
It’s called “HD Data” because it provides maximum clarity and maximum resolution.
Thanks to more than a decade of collection, XANT has accumulated data on more than 90 billion sales interactions, and that number is growing. The system is continuously collecting and analyzing new data in real-time, becoming smarter with each interaction.
In addition to sales data, XANT has access to external contextual data on things like stock prices, recent news, and social media, which help fine-tune predictive models.
Sales organizations can use HD Data to improve the following sales functions by leveraging specific apps that are built on top of the Neuralytics predictive engine:
- Predictive Lead and Account Scoring with NeuralView™
- Prescriptive Sales Activities with and Playbooks™
- Prescriptive Opportunity Scoring with Sales Advisor™
- Pipeline Management with HD Forecast™
- Predictive Forecasting with HD Forecast™
Sales organizations can use this very same predictive engine to improve lead generation, customer success, and potentially thousands of other business functions.
In fact, XANT has made HD Data available to other companies and apps.
RELATED: How Predictive Forecasting Can Improve Forecast Accuracy
Connect to HD Data With the Predictive Cloud
The Predictive Cloud, powered by Neuralytics, is a first-of-its-kind open platform that enables businesses of all sizes to build rich, powerful predictive apps that drive business results.
As people use these applications, each interaction and its outcomes are captured and processed in the predictive engine.
Over time, the machine grows smarter as it learns from the data feeding it. A continuous flow of information between the predictive engine and each of the apps also means the applications become more precise in their capabilities and recommendations.
This sharing of information is further enhanced when applications sit together in a platform and interact with one another. In this case, the relevant information isn’t just shared linearly between one application and the predictive engine, but across all applications.
By placing high-definition data at the center of your applications, you can develop highly accurate predictive models that will drastically improve the performance of your sales team.
Predictive Scoring of Leads and Accounts With HD Data
One of the many ways an app with high-definition data can improve sales performance is through lead and account predictive scoring. One app that can help with identifying high-potential leads is NeuralView.
Generally, sales reps spend a lot of time nurturing leads that aren’t right for them. This can lead to wasted time and effort because they’ll chase after unproductive leads.
With high-definition data, sales reps take a step in the right direction.
Predictive leads and accounts scoring helps recover lost time by leading sales reps toward more promising prospects. Through the analysis of historical datasets, the app can identify which leads will be more open to responding to your sales reps.
Prescriptive Sales Activities With High-Definition Data
HD Data has two primary abilities: the ability to predict and the ability to prescribe.
HD data can help your sales team predict different types of factors in sales.
High-definition data can also help by prescribing sales activities that drive the most results. For example, it can help recommend the best time to call a lead or which email address to use.
Although artificial intelligence is making its way into plenty of organizations, not enough are treating it right. Not only will HD Data make sales teams more efficient, but they are also creating effective solutions.
When used right, data can give a significant boost to your sales team’s productivity. By using HD Data to help you reach the right decisions, you’re on your way to making each step of the sales funnel successful.
Learn how HD Data can help you sell faster, sell smarter, and sell more in this free ebook.
Free eBook: The Science of Lead Scoring, Prioritization & Sales Success
79% of marketing leads never convert to sales. That means inbound reps waste a lot of time chasing the wrong leads.
Have you tried using HD Data to improve your sales funnel success? How did it go? Let us know by leaving a comment down below!
- How Predictive Lead and Account Scoring Fuels Sales Efficiency
- How Prescriptive Sales Activities Optimize Your Sales Process
- Use Prescriptive Opportunity Scoring to Win More Deals This Quarter
Editor’s Note: This post was originally published on March 1, 2016, and has been updated for quality and relevancy.