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Data, Big Data, & Really Big Data…

I attended an Executive Roundtable sponsored by Webolutions in November.  Webolutions (https://www.webolutions.com/ ) is my preferred “Thought Leader” when it comes to what’s going on in marketing.

John Vachalek and his team (including Mike Hanbery, John Brackney and Cindy McGovern) have addressed several key topics in their 2017 Round Tables: “IoT and the Impacts on Your Organization”; “Developing a More Engaged and Productive Workforce”.  November’s topic – one of my favorites – was “Effectively Using Data to Drive Organizational Success”.

The discussion centered on Key Performance Indicators; leading KPIs; lagging KPIs; sales KPIs; operational KPIs; customer KPIs; KPIs for everyone and anything.  And, how can a round table discussion about KPIs be held without including the systems and technology that store all of that data?  It’s been stated about Google:

Google tracks everything; and everything is a lot. 

Unknown Sage

Mike Hanbery and John Brackney led a stimulating, 1-hour discussion on KPIs, data, and big data.  Webolutions does a great job of getting past systems hype and really focusing on the strategic thinking necessary for today’s technology to be used effectively.

On my left was an industrial engineer.  I believe he and I found agreement:

Machine-generated data is precise; People-generated data is messy.

Across from me was the CEO of a regional eye care center, who stated all the data in the world doesn’t help him convince one of their doctors to consider changing his or her practice habits:

Conventional IT Wisdom:

A good idea is no match for a bad habit. 

Frank Hayes

When Mike noticed I had been quiet he decided to ask for my opinion.  Mike knew what he was asking for – I have attended many of his company’s meetings and taken their “Join the Conversation” invitation literally.  I doubt he was surprised when I offered the position that data has no value.  Then, I expanded and said data is actually worse than that.  That stimulated the conversation!

When challenged, I first clarified that my views are solely based on the sales profession and data, even big data, might be terrific in the engineering and medical professions; marketing too.  But in the sales profession, data typically just drags people down to the bowels of CRM “administrivia”, which according to Wikipedia:

Administrivia: 

Administrative details that must be dealt with in order to do more interesting work.

Too much attention to CRM data and administrative details prevent sales people from doing “more interesting work”, aka selling!  And don’t even get me started on predictive analytics (which I have addressed before http://thequoteguys.com/2015/02/self-obliteration/ )

Yet here we are often citing CRM systems in our examples of all the data that can be harvested for KPI purposes.  But at what cost?

According to Integrity Solutions (aka a “data” source), who cites CEB’s research (aka “big data”):

The number and diversity of buyers involved in a typical B2B purchase has increased to 6.8, according to CEB data.

Integrity Solutions then coupled that data and big data with LinkedIn (aka, “really big data”):

Based on reports from LinkedIn, 20% of the people involved in a purchase change roles every year.  In other words, the person you’re selling to today may not be in that role when you have your next meeting.

Yep, we’re tracking data that will likely prove to be entirely useless.

I favor Vince Gatti’s view about using CRM for personal coaching of our “future-self”.

In the sales profession, I’ll vote for “next step action” over KPIs every time; how about you?

GAP

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