These investors were intrigued by the concept that lies at the heart of InsideSales’ technology: Neuralytics. The term is relatively new – and it’s registered. Neuralytics combines elements of artificial neural networks – the idea that computer systems can learn, as biological systems do, from a variety of data inputs – and predictive analytics. InsideSales is using Big Data, machine learning and artificial intelligence to discover meaningful patterns in data, with a goal to reveal what customers are likely to want or need next.
And really, that kind of predictive information is where this is all ultimately headed. Yes, it’s great to understand what has happened, and what has worked, and what hasn’t. But what everyone craves is insight into the future. Big Data may never exactly become a crystal ball, but it needs to deliver a way for companies to understand what’s next if it’s truly going to fulfill its promise.
InsideSales’ executive team says the company is already delivering value to customers, with more to come.
“The power of data science is becoming a mission-critical part of every business,” said Dave Elkington, chief executive officer and founder of InsideSales.com, in a press release. “Neuralytics, our predictive analytics platform, is at the heart of this movement, providing measurable and immediate revenue impact for our customers. These deepened partnerships will accelerate our technology innovation and deliver significant benefits to our customers.”
The funding was led by Salesforce Ventures, and it included money from Microsoft. InsideSales had already raised more than $139 million and is now valued at $1.5 billion. Those kinds of numbers tell us one thing for sure: There are great expectations for machine learning and analytics technologies to deliver tremendous value to companies around the globe in the years to come. Got an opinion? Let us know about it.
Image credit: Mike Seyfang