by Art Waskey | Jan 18, 2024 | Art of Sales Weekly, Featured
Artificial Intelligence (AI) applications offer exciting possibilities for transforming how business is done. Its applications are complex and very new. There is a lot to consider when choosing which AI tools to implement. Here are some key factors to look at when researching what’s best for your company.
Manage your data
Distributors collect a myriad of valuable customer, internal, and vendor information in the process of doing business. AI can generate outputs based on that internal data, whether stored in the cloud or on-premises. If that data isn’t properly managed, your AI-driven business processes might suffer the consequences. In a recent Forbes article on this topic, Simon Jelly points out that only 23% of your collected data will probably be “good” data. Your AI applications are only as effective as the data you input. According to Jelley, there is a lot of data to clean to get to the good stuff.
Classify your data
Jelley suggests that after you have captured the relevant data, you classify it. There are 3 key steps to this:
- Create the sets of definitions, labels, and groups you will use to organize your data.
- Apply that taxonomy to your data.
- Establish a single source of truth (SSOT) location for each category of your data.
Clean your data
Once classified, clean your data to rid it of the ROT (redundant, obsolete, or trivial). Redundant data can give AI the impression that something is more important than it is because it’s repeated. Once AI has clean data, it will help keep it clean.
Optimal results
Remember, only about a quarter of the data you collect will be useful to your AI tools. When considering how to get the most out of your AI applications, look to good data management. Classify and clean your data for optimal results.
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by Art Waskey | Jan 11, 2024 | Art of Sales Weekly, Featured
Coming to your market
Artificial Intelligence (AI) applications are rapidly infiltrating market spaces. McKinsey has declared that “AI is poised to disrupt marketing and sales in every sector.” The company predicts that generative AI could increase marketing productivity by 5% to 15% across various applications. These benefits include generating personalized content at a large scale, improving customer engagement, gaining deeper customer and data insights, and enhancing lead identification and development.
Two examples
I recently finished a Zoom training session with a distributor sales rep. As I started Zoom, I received notice of a software update. Someone asked me if I wanted to include AI in the session.” When I accepted, I had no idea what was going to happen. At the end of the training session, I received a pleasant surprise. Zoom AI had captured, classified, and cleaned our entire interaction. The results were amazing. I sent the information to both the trainee and the owner of the distributor. The trainee was able to review our session and the distributor owner received confirmation of its usefulness. Additionally, I gained relevant information for the book I am writing on the topic of training.
In the same week, I had a similar software update from Prezi. I use Prezi to produce the slides for my various training, writing, and speaking applications. Moreover, my digital marketing specialist and I can’t wait to see AI’s impact on enhancing those presentations.
Be more productive
AI’s impact on training and marketing using tools like Zoom and Prezi is just the tip of the iceberg. AI applications are transforming many business processes. One example of how technology can be helpful is by improving the tracking of inventory levels. These tools can also take data generated by GPS and other transit technologies and use it to improve your transportation costs. In conclusion, the same is true for warehouse processes and many more. It’s time to take a serious look at AI’s applications for your business and improve your marketing productivity. Get tips and tricks like the above in The Art of Sales books. Or subscribe to the FREE monthly articles here.
