The State of Data: Past, Present, and Future
Oh, dear data ... So much has been talked about it, yet it feels like there is always room for more. It's even hard to give an accurate definition of data nowadays because it is both possible and permissible to take the simple route or the extremely baffling path. Let's try to stay in the middle, shall we?
Data can be understood as all the quantities, characters, or symbols on which operations are performed by technology, then stored and transmitted in the form of electrical signals, to be finally collected on magnetic, optical, or mechanical recording media.
The definition is clear enough. What does not cease to amaze us at CIENCE is how transcendent these tiny, dazzling sparks of information have become in our society, especially in the B2B environment, over a relatively short time frame.
Now it's almost impossible to imagine any type of economy without the disposal of this precious asset (even more valuable than oil, if you ask us), for all business owners and decision-makers in the modern era depend on it (to a certain extent) to bloom.
For this reason, we wanted to take a quick tour into what data was, what it is now, and how it might look in the close future. So hop in, buckle up, and enjoy the data DeLorean ride.
How Data Used to Look
Data has been with us for a long time now. As a cute example, we could talk about the early stages of the Internet of Things (IoT). Back in the early 1980s, a Coca-Cola machine was placed at Carnegie Mellon University. Some local programmers got the crazy idea to connect the vending machine to the Internet so they could check if there were cold cans available.
The experiment worked just fine. The clever crew not only managed to lay down the foundations of a technology that now is used to collect relevant information out of navigation devices, security systems, home appliances, and health monitors, but they also got refreshing drinks while doing so.
Since the presentation of the first workable prototype of the Internet back in the late 1960s; data sources, tools, and applications have evolved at an unprecedented speed, to the point where it was too massive, wild, and nimble to get a grip on, also known as the data exhaust phenomenon.
One of the actions that drew a line between the past and the present of data is the ability to segment, qualify, and exploit data according to operations as practical as closing a deal.
Data in the Present Day
Data-driven decision-making has taken over the world. With so many options available to help sales and marketing teams to craft the perfect ideal customer profile (ICP), B2B companies have no excuse to use information in their favor.
As Eric Nowoslawski, founder of Growth Engine X, mentioned in our Enterprise Sales Development podcast, “stuffing (follow-ups) full of data is such a great way to build trust, because you’re not just coming in there swinging.”
Account-based marketing (ABM) techniques are proving to be the right way to communicate with high-end executives, and processing data is allowing sales development representatives (SDR) to increase their performance by creating more tailor-made experiences.
Tools like customer data platforms (CDP) keep on bringing more accessible, sophisticated, and pragmatic solutions to the table; channeling websites, apps, digital assistants, and marketing clouds while gathering demographic, psychographic, behavioral, firmographic, and transactional data. All this and more are just a click away.
The Data of Tomorrow
Even with all this data at our fingertips, predicting the future remains challenging. No one would have dared to forecast the impacts caused by the COVID-19 pandemic, not even how the Great Resignation accelerated the state of data decay for many industries.
Read More: The Impact of the Great Resignation on Data Decay
Despite all calamities, data has proven to be a solid ally, helping the economy to get back on its feet and providing trustable wisdom for future generations.
Experts agree that data will continue to thrive, generating new opportunities for tech-based partnerships whose major role will be to create perfect matches between needs and solutions.
Upcoming data technologies will be able to provide businesses with near-perfect buyer personas, which will allow sales teams to connect with their targets through the right channels with a fully personalized proposal.
Time can only tell how fast these platforms will be available for every company, but one thing is for sure: They are already in the making, and here at CIENCE we like to believe that we are part of that exciting transition.
Before You Go
Check out our favorite content this week to get your sales and marketing juices flowing:
Blog of the Week
Data Segmentation: The Complete Guide
Data segmentation dissects account-related data through specific criteria and allows your team to create more accurate prospect profiles for your target-account lists (TAL). Access this guide to learn how to integrate this concept into your business right now.
Podcast of the Week
Enterprise Sales Development with Mark Hunter
In this episode of Enterprise Sales Development podcast, we speak with Mark Hunter, an author, speaker, sales trainer, and consultant, also known as the Sales Hunter. Mark shares insight from his experience working with organizations from all different sizes and scales as well as his tactics for building trust with cold calls. Be sure to check it out.
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