Nick Mehta, CEO of Gainsight, speaks at Data Driven NYC about why B2B software companies struggle to apply predictive data models to sales and customer success.
“The reality is, most companies, the sample size is far too small. They're just few, too few data points over too little time.”
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More from Nick Mehta
AssertionNot checkable as stated
Mehta: The top B2B customer retention predictor is CEO friendship
“So in our business kind of predicting churn, you know what the number one predictor of customers retaining is? If the customer's CEO is friends with the vendor's CEO, right?”
Nick MehtaDec 17, 2015▶ 8:26B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
Insight
Mehta: Long-term historical B2B data models often yield useless results
“So you look at a whole bunch of data over five years, and the customer says, I've got five years worth of data, right? But in those five years, they got bought by a private equity firm, They introduced new products. They fired their CEO. They redid their prici…”
Nick MehtaDec 17, 2015▶ 6:40B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
Insight
Mehta: Driving analytics adoption requires taking humans out of the execution loop
“At the end of the day, you've got to figure out how you take the humans out of it, to be honest. It's a lot of, like, how do you make it more automated?”
Nick MehtaDec 17, 2015▶ 15:03B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
PredictionDidn’t hold up
Mehta: Customer success software market is becoming a power law
“Some spaces tend to you end up being a power law where one company ends up getting more of the space than the others. In other spaces, there's a lot of players, right? Ours is probably ending up a little bit more of a power law”
Nick MehtaDec 17, 2015▶ 17:47B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
Insight
Mehta: Enterprise focus early forces startups to build sophisticated products
“We went after larger customers early on, and that's allowed us, it forces you to build a bigger product, right? There's pros and cons to it, by the way. There's lots of companies that get killed by going after larger customers, but by, for us, we built a very …”
Nick MehtaDec 17, 2015▶ 18:28B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
Insight
Mehta: B2B big data's hardest problem is changing front-line behavior
“The last mile of all this cool technology and what we've struggled with just in terms of how do you take that and turn that into changes in behavior for sales people, for customer service people, that type of thing.”
Nick MehtaDec 17, 2015▶ 3:00B2B Big Data Challenges, Nick Mehta, Gainsight (Data Driven NYC / FirstMark Capital)
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