Big Data! Machine Learning! Artificial Intelligence! These are just some of the words that we are inundated with every day as you browse the web and read the latest business articles. We see it all so much that at times it can be almost nauseating and yet, it is crucial for all businesses to outline their Big Data and Artificial Intelligence strategy for the foreseeable future to stay competitive in their market. So how do you sift through all the noise to find the best AI tools for your team? The best place to start is making sure that the tools you bring to your companies tech stack help address one of the biggest lost costs in business, Analysis Paralysis.
Analysis Paralysis is an epidemic, ok so maybe that is a bit dramatic, but if you run a company, whether it’s a startup or a Fortune 500 the one resource you cannot afford to waste is time. We have all heard the old adage, “Time is Money”. That saying has never been more prevalent than it is today, greater competition, tighter margins, and with larger and larger stakes on the line for businesses, they can ill afford the costs associated with lost time. And what is one of the largest sources of wasted time in business? Yup, you guessed it, Analysis Paralysis.
What are the costs of Analysis Paralysis exactly? Well, some are obvious in that companies have to compensate their employees (duh, I know this is obvious). But specifically in sales, the value of a salesperson is directly correlated to how much business or revenue they can generate for their company in a given month, quarter, year, etc. Any time spent not selling is of lost value to the company, if salespeople are stuck sitting there staring at their CRM data trying to figure out what it all means then they are losing precious time that could be used building relationships with new customers. Less directly related is the lost opportunity. Every second your team is sitting in the office or on their iPad trying to make sense of all that sales data, your competition is out there shaking hands with your potential customers. In today’s hyper-competitive world sales teams need to always be on the front foot trying to get to the best customers faster than their competitors. So how do we fight Analysis Paralysis? Sorry if you have heard this already, but Big Data and Artificial Intelligence.
Businesses have begun to realize the value of the mountains of data that they are sitting on. The information can tell them about their customers, supply chain, marketing effectiveness and many other areas of their business that can help provide insights into your areas of strength and weakness. There is so much information though that it has ignited a new business solely dedicated to helping a business make sense of all of their available data. These new ventures are essentially combating the epidemic we discussed before, Analysis Paralysis.
Enablement and empowerment are the two key words for these new ventures. When you work with Big Data sets, AI engines are ingesting mountains and mountains of data and the goal is to create valuable insights from it. In order to provide value, new AI venture startups need to develop AI engines that produce an output that is easy to interpret and can help spark action. At its core, we are essentially boiling down a complex data set to a simple usable output that employees can act upon. That value is undeniable to a business.
When businesses invest in technology, they should invest in technology that enables and empowers their employees. Your employees are your greatest assets and when you give them tools that enable them to be more effective at their job they can create tremendous value for the company as a whole. Not to mention that as an employer it is our responsibility to give our employees the best tools possible so that we can help make sure they can be successful in their role.
At Proximate, we believe in this mantra and we have designed Proximate.io to help empower your entire sales team and through that create tremendous value for your entire company. Our Sales Optimization AI can help streamline your sales pipeline so that your sales team can find the highest quality leads faster. By saving them time not only do we save you money, we can free them up to help deliver additional business opportunities.
We would love to get you and your team set up with exclusive early access to Proximate this holiday season. You can learn more by signing up with your email at www.proxiamte.io. We look forward to working with you and hopefully showing you this exciting new tool we have been hard at work on!
“Innovation comes out of great human ingenuity and very personal passions” – Megan Smith