Sales teams in organizations with long sales cycles (>3 mo) such as semiconductors use CRM tools to track and record information regarding the progress of their deals with potential customers. These deals are typically called “opportunities”, and each opportunity has “records” associated with the deal. The records have the following content:
- structured fields such as the “Stage” at which the opportunity is in (e.g., “Design”: product team is working on feedback from customer on a potential product, or “Win”: the team sold the product to the potential customer),
- free-text fields in which the salesperson enters more general information about the deal such as “Status Update” or “Description”,
- attached external documents that are related to the deal process such as slides presented to the customer, bug reports from customer, product brochures etc.
Managers typically ask salespeople to manually enter this information to the CRM tool with the motivation of using that data to analyze both salesperson performance as well as sales flows. Example analysis queries include opportunity-based ones like “which feature of our product is customer X worried about the most?” as well as aggregated ones such as “what are the top priorities of our customers in 2023?”. While structured CRM data does help getting answers to important questions like these, everyone has a hard time with this procedure because both the data entry and the analysis phases are tedious and manual. Automatic data entry and automatic analysis tools are required.
ShallowAI HIVE™ is a good fit for this application since we support Q&A type information retrieval from heterogeneous data sources as well as automatic data entry methods such as transcription and translation of deal calls and meetings to a common format.
