Using big data for business
With the advent of big data, effective data capturing technology, and the increasing sophistication of sales management systems, companies now have access to valuable sales and client information .
This is according to Duaan Dekker, Honeybee marketing manager.
Dekker explained that the value of big data lies in the ability to correctly analyse it. Having access to large amounts of data can be as precious as it can be useless.
“Call logs, time sheets, invoices, contact dates, times, visits, etc. can be worth their weight in gold when analysed correctly, leading to valuable insights,” said Dekker.
However, the data may be rendered meaningless if users become inundated and suffer from “analysis paralysis.”
“You need to decide early on what is important for your organisation to know, and then track it. Data is not useful if it is not relevant,” he said.
Know the difference between data and information
Data is the raw product, the massive, unsorted set of text and numbers. In comparison, information is the processed part, where the data is given context, refined, and translated into something everyone can understand.
“You need to ensure that your data is organised in such a way that it is easy to analyse. If this is not done automatically through a sales management system, you will struggle to stay on top of the massive and daily inflow of data to your business,” said Dekker.
According to Dekker, sales management systems should be as simple as possible to deliver the maximum value required for advanced data analysis.
“Such a system will enable you to capture valuable data which will enable you to pinpoint inefficiencies, and also where to focus your efforts,” said Dekker.
The benefits of good sales management systems
Information can reveal delays in your sales pipeline, highlight areas where a sales force needs training, the effectiveness of marketing campaigns, and customer preferences.
These insights will empower a sales force to focus its energies and exceed targets. “Our sales force uses the Honeybee sales management system to govern daily activities,” said Dekker.
“Admin is greatly reduced and the quality data gathered while using the system has enabled us to track which lead sources were most productive, where the bottlenecks in our sales pipeline lie, and also where the sales executives get stuck before converting a sale.”
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