What is Big Data?
Big data according to Wikipedia is defined as follows:
"Big data is a term for data sets that are so large or complex that traditional data processing application software is inadequate to deal with them. Challenges include capture, storage, analysis, data curation, search, sharing, transfer, visualization, querying, updating and information privacy." Source: Wikipedia
When talking B2B Sales, Big Data refers to the ability to tap social media, public records, niche sites for every vertical, Google and other search engines, Google Maps, and Street view, etc to compile a complex and insightful view into what your potential customers want, and how to reach them. Big Data will also cleanse existing customer and contact databases and send real-time alerts when appropriate updates in the lead or customer, so it creates a reason for you to reach out to them.
Everyone in the Sales game knows it's all about the follow-up. Before you had to find your own leads, advertise your business, invest in marketing campaigns, train and manage sales teams for success, manage Sales pipelines and Quotas, Forecasts and Sales success KPIs, etc.
But now with Big Data you can be alerted with real business reasons to follow-up and add value to the relationship. This type of data was before only available to the largest of Corporations and unless you had a budget in the millions you could forget it. Recent advances in Big Data have caused numerous startups to employ Data Scientists and new Data Mining technologies such as Deep Learning and Machine learning, informatics, etc to generate a customer profile that is perfectly suited to your perfect customer profile, is available as a service, and at prices that any small and medium sized business could afford. The recent advancements in the last 5 years have made the Big Data space suddenly available to all, and it is shaking up B2B sales globally.
When you hear about AI automating jobs away B2B Sales jobs, it is the data and the software that is the main differentiator between success and failure in B2B sales today. Big Data integrated tightly with Cloud CRM or a web-based lead management system plays a big role in automating the Salesforce and preparing your Sales team for the future of Sales solutions for business.