Think You’re Not Ready for Predictive Insights? 5 Reasons Why You Are

Think you’re not ready for a predictive insights software, here are 5 reasons you may believe it’s not a fit when in actuality, it’s the optimal time to start implementing it in your department or company.

The biggest misstep one could take is not investing in a predictive insights tool when it would have exponentially benefitted them BEFORE “they felt ready for a tool like that.”

Here’s why.

1. We don’t have any data.  This may be true, but it likely isn’t.  If you have any historical customer data that is more than a few data points, you’re likely in a good position to use the findings from a predictive customer insights tool. If you wait until you have oodles of data then you’re missing out on building and scaling your business.  Wouldn’t it be nice to know what’s actually driving revenue and what is causing customer churn or bounce now rather than waiting?  You can continuously run new projects with Squark so as you grow your business or try new initiatives, you can iterate your projects to see what are the true, data-backed business drivers and detractors.

2. Our data is dirty.  As the saying goes, dirty data in, dirty data out. But waiting until your data is perfect leaves too many opportunities on the table. So Squark specifically gives the user control to not only select the data they use, but to deselect specific data points to not include in predictions and explainability. This allows the user to exclude data that, let’s be honest, is as useful as a CVS receipt. If not all of your data is reliable, you’re not alone, and your predictive system should accommodate for that so dirty data or irrelevant data doesn’t sway, or poorly influence your business results. Plus, when that data is clean, you can easily re-select those data points and re-run your predictions for increased accuracy and insights.

3. We’re missing some data.  Most people don’t realize the true power of predictive customer insight or predictive analytics tools.  Missing data, no sweat!  Squark does the heavy lifting and actually predicts the missing values in your data, adds them in. Squark even creates new columns to break out data or add more specific features. This is not a concern and it’s actually a perk of using a predictive customer insight tool.

4. We don’t have any data scientists, data analysts, or data operations to use the tool.  Let’s face it, data science is hard. That’s why it’s expensive, time consuming, and data scientists are paid as such.  We created Squark so that everyday business users can generate the same predictions and explainability as a data scientist could. Results are generated faster, less expensive, and time to action and value is as short as possible.

5. We’re too small, we can’t take on another software implementation. Squark users are surprised to learn that we have made it very easy for people to get up and running in no time flat. We’re a SaaS business and require no hardware. We have data connectors to import your data, automatic scheduling so you can schedule your predictions, and most importantly, you can run a prediction in less than 5 clicks. There is little lift needed on your end to start uncovering strategic insights to further drive business.

Don’t let the above reasons hold you back from advancing your department and business. Adding a predictive customer insight tool early can help you push your business forward. From uncovering your ICP or a high-value prospect or customer segment, with predictive insights you can prioritize prospects and customers, anticipate customer needs with data, predict churn rate and who will not be returning, know who to up/cross-sell and when.  And the best part is, knowing exactly what is causing these outcomes.  It’s great to predict which customers will expand but to know why that expansion is happening is key.  If you can maximize that, you can easily multiply your revenue.

All of these reasons and more are why no-code predictive customer insight technologies, like Squark, are showing up in forward-thinking companies’ tech stacks.  It’s never too early or too late or too much dirty data to start being strategic and uncovering business insights to propel you forward.

Let us show you that you’re ready for predictive insights; schedule your demo today.