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Pick Out the Most Useful Bits of Big Data

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Massive volumes of data are being generated every day by consumers using social media, search engines, and making online and in-store purchases.  This volume of information has the force of a tidal wave and you can either float or sink, depending on whether you can harness the data to your benefit.

Today’s consumers are savvy and do their own research before buying a new product or service.  Consumers look at websites for product information, use social media to ask advice from family and friends, and even read reviews posted by complete strangers.  When a customer is ready to make a purchase, they no longer require the advice of a sales representative.  Instead of guiding a customer to their product, today’s sales rep is better off focusing on predicting customer buying behavior or finding the most likely customer interested in a specific product or service – which is possible if you can make sense of big data.

Before you open the floodgates to the tidal wave of big data often found online, take a closer look at the data you already collect in your enterprise resource planning (ERP) software.  For example, Microsoft Dynamics® GP is organizes core business data including financials, manufacturing, supply chain, project and services management, and more.  This solution also offers robust business intelligence and reporting features that will provide actionable insight into your business data.  You can evaluate existing customer sales histories to determine possible cross-sale and up-sale opportunities.  There may be products that complement or supplement the items your customers regularly purchase, that your customers may not have considered.  A phone call from your sales rep may enlighten your customer and generate new sales.  In addition, you can identify your top-selling products and analyze what types of businesses are buying those products.  This data can help you choose prospects with a higher likelihood of buying your products.  Sending a sales rep to visit prospects that fit certain profiles is likely to have better results than reaching out to a random prospect.

Big data can be very helpful if you can wade through it well enough to obtain meaning.  You can use the data that you have at your fingertips to position your business for growth by filtering it with the right technology.  Contact MIBAR.net for more information about using ERP software like Microsoft Dynamics GP to pick out the useful bits of your big data to boost sales and drive growth: http://www.mibar.net/Contact-Us.aspx or request a GP demo here.

 

By MIBAR.net, Microsoft Dynamics GP Partner in Greater New York (http://www.mibar.net/)

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