Whether it's using predictive analytics to better understand customer’s needs, or applying machine learning to streamline business processes, the enterprise software industry is experiencing a major digital transformation. Gone are the days where companies stored information in data warehouses. Instead they are now turning to content management systems that have the capability to help drive more profit, encourage growth and generate success. This week we’ve been monitoring stories around how machine learning is fueling the enterprise software industry, how sales and marketing teams are using content to align business goals and how companies are using data analytics to gain better customer insight. Click on the title above to read these stories.
The enterprise software industry is on the verge of a major transformation. This change is being fueled by machine learning, a technology that allows companies to process data in real time and predict future outcomes with analytics. BCC Research predicts the machine learning market to reach $15.3 billion by 2019. Not only does machine learning organize company data, it stores this information and transforms it into valuable insight, which can be used to make thoughtful decisions. An article in TechCrunch noted that machine learning eliminates many of the current problems facing traditional enterprise software systems. Today, companies store data in large data warehouses, which lack the power to generate patterns and real time insight. This approach causes companies to waste time searching for information and impacts productivity. Finally, the article noted that “The possibilities fueled by machine learning are endless.”
In order to stay competitive in today’s fast-paced world, sales and marketing teams need to work together to produce results. Salespeople need to act like marketers, and marketers need to think like salespeople, according to an article in Entrepreneur. The article mentioned that content, if aligned for both marketing and sales needs, has the power to bridge these groups together and produce real business results. Today, more than ever, it has become increasingly important to include sales teams in the content creation process. After all, salespeople are the ones interacting with customers on a daily basis and have direct insight into what they want and need. If content is both relevant and organized, it can be the key factor in leveraging the power of both your sales and marketing teams.
KPMG conducted a survey of 830 senior business executives across more than 15 countries to find out how companies are using analytics to gain customer insight. The survey, Going Beyond The Data, Turning Data From Insights To Value found that 92% of C-level executives are using data and analytics to gain greater insights into marketing. They key motivators for companies investing in data and analytics are: improving productivity, producing sales growth and reducing expenses. According to the data, only 14% of enterprises believe they possess the resources necessary to gain the full potential that data and analytics have to offer. Finally, the results revealed that data analytics are a crucial aspect to an organization's growth, success and have the “potential to deliver greater value in enterprises globally.”
Chief Learning Officer: Two Minds Are Better Than One
By James Bowley
Corporate learning is in the throes of a disruptive evolution thanks to collaborative technology. First-generation online methods that mimic traditional classroom learning and coursework are increasingly challenged by learner expectations around pace and frequency thanks to consumer learning experiences on Google, LinkedIn or Twitter. Those experiences have changed how people receive information, process it and learn from it.