Machine learning is a buzzword that you may have heard thrown around in a fairly liberal way lately.
But what is it, and how can it help you become a more effective salesperson?
Machine Learning is a subsection of Artificial Intelligence that allows computers to learn to perform tasks themselves, instead of being explicitly programmed to do so. This usually involves taking enormous sets of data, which the computers then use to train themselves and infer their own conclusions.
The applications are widespread, from bank fraud detection and spam filters, to self-driving cars and even predicting crime (à la Minority Report!)
In the sales space, software is helping to perform tasks such as:
- sentiment analysis of sales emails, to identify which prospects you are at risk of losing.
- using external data sources to predict sales e.g. weather forecasts to estimate newspaper circulation
- predicting the best sales hires using text analysis of their CVs.
At LeadFinch, we use machine learning to help salespeople quickly and effectively determine which companies are likely to buy from you, based upon similarities to your existing customers.
As we speak, we’re rapidly populating a complete data set of every business in the world, using publicly available data from corporate websites. By quantifying businesses across hundreds of dimensions, this gives us an incredibly rich and powerful data source to work with.
Based upon this, we are able to deduce which of the millions of companies across the planet will be most likely to buy your product next, allowing your sales team to quickly find the best, new sales prospects; focus their efforts; and save time.
To find out more about how we are using machine learning to help salespeople instantly identify the best new sales leads, come visit us at stand 1630 at the Sales Innovation Expo at ExCeL London on the 11th and 12th May.
Image designed by Freepik.