No sales team would pass up an opportunity to improve its overall productivity and profitability. Most also realize that big data and analytics are game changers. The question isn’t whether to harness the power of big data and analytics. It’s deciding what provides the most value to individual salespeople and the entire organization.
While the majority of today's organizations may recognize the potential of big data, most struggle with how to properly apply the skills of data scientists:
Most businesses that do hire data scientists often lacks an idea how to effectively utilize their skills. Most data scientists are stuck in maintenance mode organizing and collating data, rather than actually analyzing it.
Below are several practical applications of big data that can be used to boost sales performance in an organization.
Real-time Performance Visibility and Optimization
Companies that consistently post record sales quarter after quarter have learned how to close the gap between CRM and the real-time performance of sales teams. One reason why is because big data gives management the visibility to more completely see what’s going on with the entire sales team and their processes.
Sales platforms driven by big data give managers more information to work with when it comes to coaching their ...
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Predictive analytics and big data have been used in sports for well over a decade. Using advanced statistical analysis allows professional sports franchises to better identify talent and predict future player performance.
In 2002, the trend entered the mainstream when Billy Beane, the Oakland A's general manager, used it to create a cost-effective baseball roster. He used the data to predict that a player's on-base percentage was more important for team success than traditional stats such as their batting averages or home runs.
Beane’s strategy was successful and led to sustained success by the A’s, a small-market team with a payroll exponentially smaller than many of their competitors such as the New York Yankees. Since Beane’s “Moneyball” era, predictive analytics and big data have taken over the sports world.
Beyond baseball, another sport where such tools are especially prominent is horse racing. Data mining, statistics, modeling, machine learning, and a variety of other tools are used by owners, trainers, race course management, bookies, and bettors alike.
Equibase and the Origins of Big Data in Horse Racing
In 1990, the Jockey Club and the Thoroughbred racing associations collaborated to form Equibase as means to collect and share thoroughbred data. In the two and a half decades ...
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