Magazine article CRM Magazine

CRM's Next Biggest Trend: Predictive Analytics

Magazine article CRM Magazine

CRM's Next Biggest Trend: Predictive Analytics

Article excerpt

A SIGNIFICANT development has been uncovered in our 15th annual CRM Market Awards--the emergence of predictive analytics.

Instead of simply focusing on the historical buying behavior of existing customers, organizations can use predictive analytics to identify which customers--and prospects--are most likely to buy. This is a big deal as these solutions not only help organizations retain and sell more to existing clients but they also enable companies to more easily acquire new customers.

This year, our Rising Star awards recognize three up-and-coming predictive analytics companies: Bullhorn, SalesPredict, and Infer. Bullhorn enables organizations to gain insight into email interactions to see whom you're communicating with and the quantity and quality of those interactions to determine which lead is most interested in buying.

Other predictive analytics vendors, such as SalesPredict and Infer, take a very different approach to predictive analytics. They search a company's marketing automation and CRM systems to find its most successful accounts, then they search the Web and third-party databases to find similar companies. Additionally, they use predictive lead scoring technology to rate the quality of each lead. This enables sales and marketing professionals to focus on the most highly qualified leads first.

Infer takes it a step further with next-best-action analytics for sales and marketing professionals. With Infer's Profile Management platform, "you can build your own profiles, your own strategies, and we can provide recommendations on what to do with those profiles," states Vik Singh, Infer's CEO and cofounder. "We can recommend new profiles to build. And you also get a Facebook-like newsfeed that tells you what you should be doing next on every profile."

It's like having a personal guide who tells sales and marketing professionals "'this profile is one of your best. …

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