In a highly competitive business world, companies are constantly searching for the next generation tools that will help keep them ahead of the competition. With new business intelligence and machine learning technologies, companies can focus on sales enablement strategies to increase profitability and drive success. This week we were keeping an eye on stories around marketing automation trends, using data analytics to manage the customer lifecycle and using data mashup tools to help companies generate valuable insights.
Over the past five years, the marketing automation industry has skyrocketed and will continue to rise as technology evolves. An article in Business 2 Community highlighted the major shifts in the industry and how it will transform companies across all industries. One major trend taking off is predictive analytics, which helps organizations eliminate the “guessing game” when it comes to sales/marketing. As a result, sales and marketing teams are able to access useful data that can help them better serve their customers. As marketing automation becomes more accessible, companies will be able to streamline business process and drive success.
Managing, organizing and analyzing customer data has become an incredibly important part of a company's infrastructure. As companies strive to get ahead and gain competitive advantage, the ability to leverage data to manage the customer lifecycle is crucial. “Using advanced analytics, historical data that exists within your organization can be leveraged to maximize current customer experience and lifetime value,” an article in Information Management noted.
The sooner organizations implement analytics strategies, the faster they can achieve success.Traditionally enterprises have relied on data warehouses and simple analytics to store, analyze and extract customer insight. However, according to an article in SearchBuinessAnalytics, combining multiple systems in the form of a “data mashup,” where data is pulled both internally and externally, can help companies achieve real results. Companies should look to new business intelligence tools with capabilities of combining internal data with external information to generate deeper, valuable insight.