How to Get the Right Data for Machine Learning and AI
This isn’t a fantasy. Storing the right data in the right place allows a properly designed and configured intelligent application to access information and take action. Let’s get started!
1. Get More Of The Right Data
The best way to get more of the right data is to pull data from more sources early in the customer journey. Spend more time learning how your customers search for solutions, get buy-in from decision makers and push purchase decisions through. This information helps you understand the content and experiences customers expect when buying your product.
You can also get more of the right data by solving a critical post-purchase problems. Retention and customer growth are challenges for most B2B companies. In fact, the average B2B company retains only 20% of customers.
Make it easier for buyers to receive training, find the right tooling and resources, or run validation tests. Providing these services through connected devices, such as mobile apps or IoT devices, allows you to properly track and store the data you need.
2. Put The Data In The Right Place
Many companies have data that lives in many different places. But if you want to close sales faster, an API (Application Programming Interface) or similar service can extract data from one source and put it into your CRM platform.
Today, more than 80% of B2B companies have a CRM platform. Unfortunately, most aren’t used effectively or lack data. This results in lack of use. When you automate the data flowing into your CRM and use its alert and trigger features, you’ll close the gap between information availability and taking action on that data.
3. Continuously Learn From The Data
Machine learning and AI applications do a fantastic job of producing better and better recommendations, predictions and automated responses over time. A good example is lead scoring in a CRM.
Today, the Salesforce AI application called Genius uses CRM Data to assign values to a prospect’s sales-funnel activities. As Genius learns, the scoring updates automatically. This increases accuracy and ensures that sales agents are following up on higher-quality, ready-to-buy leads.
Businesses in manufacturing, technology and consumer brands are starting to use machine learning and AI applications. But not enough are gathering the right data to increase value generated through the sales funnel.
By using a connected device to address a major post-purchase customer challenge, you get the content and data you need to efficiently reach more high-value customers and increase the value of sales-funnel activities through retention.