Even though you might think that the data your business generates is of no value, today it’s possible to squeeze it into valuable insights. The machine learning methods help you do that. To fully win from this, you need to consult with professional engineers and see the ways to convert unstructured data into actionable acumen.
Here’s a couple of ways to do that.
1. Stop wasting time on selling to wrong people
Analyse the patterns your customers take on your site and across your sales funnel. Pinpoint those groups that are most close to the moment of purchase. Start looking into the ways to convert them better.
2. Scenarios modeling
And you don’t have to actually generate the data before you unleash AI. Just input raw inputs and ask the machine learning engineer to cook up millions of scenarios. Yeap, millions. After some modeling, they’ll tell you what the best ways to grow your sales are.
Lots of businesses automate their communications with customers. Though some say that customers hate this, they don’t. They understand that this is how the business operates. This is such a great way to cut costs!