How Big Data Can Empower B2B Sales
Click here for the full article: http://www.datanami.com/2016/03/04/how-big-data-can-empower-b2b-sales/
By Alex Woodie
As consumers, we’ve grown accustomed to having Big Data look over us. We’re no longer surprised when Amazon recommends a perfect of headphones for a 14 year-old girl, or when Target reminds us it’s time to buy laundry detergent. But big data is also impacting how businesses go about selling products and services to other businesses. Here are some examples.
One company bringing analytics to B2B sales is Reltio. The Redwood Shores, California-based company develops a big data app that helps sales and marketing teams in pharmaceuticals, life sciences, and other industries pinpoint possible customers.
As Reltio CMO Ramon Chen explains, the software as a service (SaaS) app gives clients a 360-degree view of their prospects, without burdening them with the massive data collection, normalization, and analysis project that such a capability would entail if clients built their own system.
“I put [the prospect] at center of universe,” Chen continues. “We’re getting to that often cited, but never delivered, 360-degree-view of a person.”
The Reltio system–which runs on big data technology like Apache Cassandra, Apache Spark, and ElasticSearch under the covers–makes it easy for clients to combine data from their own databases with third-party data, such as public LinkedIn (NASDAQ: LNKD) and Facebook (NASDAQ: FB) profiles, or even proprietary data from services like Dun & Bradstreet. But Reltio is no data broker. Instead, its secret sauce lies in how it enables clients to create better institutional knowledge by intelligently sourcing, cleaning, combining, and analyzing disparate data sources within the construct of individual industries.
While Reltio leverages Spark-based machine learning models provide advanced predictive analytics for relevant insights and recommended actions, reliable data must first be formed through a data cleansing and normalization process. Reltio automates this capability as well as providing an easy way for humans to contribute their knowledge and judgement to data that needs closer inspection. The company has delivered an intuitive user interface that makes it easy for users to explore, filter, and refine their data. When new data sources are added to a corpus, the software maintains separate lineages so it can be rolled back if needed.
Reltio’s browser-based interface gives B2B salesmen a leg up on using big data to spot prospects
The end goal is to provide a data-driven application that immediately responds to the inputs of a user and grows with her experiences at a company, like an analytically focused LinkedIn. The technology is industry agnostic, but the two-year-old company has created several apps for specific industries, like healthcare and life sciences. It also has customers in media, distribution, and other industries.
The company has attracted attention from analysts, such as Bloor Research: “Reltio is, in our opinion, a significant step — probably several steps — ahead of the market,” the analyst group said. “[Reltio] has re-imagined data management: extending it, making it simpler and evolving it so that it isn’t just a part of your data governance story but also something that drives better business decisions.”