CAN DATA DRIVE SALES?

 

DATA DRIVEN SALES AND DATA MANAGEMENT

What will a business man define data as?

Any guess?

Good guess, well, Data refers to the distinct facts and figures which together make up information. Data is often raw, unorganized facts that need to be processed. It is usually acquired through observation and may be quantitative or qualitative.

Managing data can help:

1.     It can help handle large volumes of information

2.     Harness power of data and gain useful insights

3.     Personalize the customer experience

4.     Add value to customer interaction

5.     Identify the root cause of strategy failures and business issues in real time

6.     Reap revenues associated with data driven sales marketing.

Information

Data is in a raw form that is simple, random, or useless. However, once it is processed, organized and structured, and presented in a specific way, it becomes information and can be stored, managed or processed further. This can be with computers or other analytic tools.

Big Data

These are extremely large data sets that we analyze computationally to reveal patterns, trends and associations, especially relating to human behavior and interactions.  It is discovered that businesses that uses Big data increase their profit by 8 percent.

Data Privacy

It deals with the ability of an organization or individual to determine what data in its system can be shared with third parties.

Data-Driven Decision Making (DDDM)

It means working towards key business goals by leveraging verified analyzed data.  Using gut feeling, opinion, tradition, theory or plain experience.

5 Steps to the evaluation towards data-driven culture

1.     Data Denial

2.     Data indifference

3.     State of data aware

4.     Data inform

5.     Data driven

Data-Driven Sales (DDS)

Data Driven Sales (DDS) happens when sales team collect and use data to make decision from product they sell to the best time of the day to reach customers.

It is important to note that companies that inject data into their sales are 5 to  6 times more profitable.

Use data today!