Big data is big right now, but why? What can big data really do for your business? Well, to sum it up, Big Data can provide your business with the means to make informed business decisions.
A wonderful infographic, which can be found on our Pinterest boards, sums up exactly why we should use big data to run our business decisions. As well as what data is needed to drive sales in a B2B environment.
This infographic from visalistan.com tells us that companies that use data analytics to drive their business are:
· 2 times more likely to improve financial performance
· 2 times more likely to use data frequently to make decisions
· 5 times more likely to make faster decisions than their competitors *(therefore staying ahead)
· And 3 times more likely to execute decisions as intended.
Thus explain why companies should be making use of big data on a frequent basis to ensure that their business decisions are in check. The types of data needed for this is explained below.
Internal leads and customer data can give you a lot of information – the type of data gathered from this data pool is as follows:
· Who opens marketing emails/newsletters
· Who visits your company website
· Do these people generate leads
· Do they download whitepapers or read your blog
· Do they attend webinars
· To they buy from your online shop etc.
There are also external sources, where your company should be gathering data. Data that can help you grow and drive sales includes:
· Name, location, industry, and revenue of other firms
· Web and email domains
· Press releases
· Web and social media presence of other companies
· Employee counts of other companies
· Executive changes within those companies
· Company trademarks and patents
· Billing and invoicing systems
· Companies' new investments
· Technologies installed within other companies
If you are now making use of the above data sources to drive B2B sales within your business, then you should look at a big data, and business analytics solution for your business.
Visit B2IT for more information: http://www.b2it.co.za/
Infographic source: http//wwwvisualistancom/2015/01/big-data-you-need-to-drive-your-b2b-sales.html