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 true 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 be used to predict 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.
Why high-definition data matters
There are a lot of organizations offering predictive solutions and promising to improve sales outcomes.
However, the true strength of a predictive engine isn’t just in the engine itself, but the data that feeds it.
One of InsideSales.com’s distinct competitive advantages with its predictive engine, Neuralytics™, is that it has access to HD Data™ – 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, InsideSales.com has accumulated data on more than 90 billion sales interactions and growing. The system is continuously collecting and analyzing new data in real time, becoming smarter with each interaction.
In addition to sales data, InsideSales.com 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 PowerDialer™, Vision™ and PowerStandings™
- Prescriptive Opportunity Scoring with Sales Advisor™
- Pipeline Management with HD Forecast™
- Predictive Forecasting with HD Forecast™
This same predictive engine can be used to improve lead generation, customer success and potentially thousands of other business functions.
In fact, InsideSales.com has made HD Data available to other companies and apps through 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, 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.
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.
- 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
- Data-Driven Sales Pipeline Management
- How Predictive Forecasting Can Improve Forecast Accuracy
- Customer Success: The Next Generation
- Put an End to the Lead Generation ‘Groundhog Day’ Loop