Tech Industry

2018 Tech Trends: Industries That Are Using Data to Drive Success

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A recent article from Inc. shared 2018 tech trends from midwest companies, and one specifically struck a chord with us: “embrace[ing] the power of data.” It’s predicted that more non-tech companies and industries will be leveraging existing data in ways they haven’t before, and they’ll be using forward-thinking analytic tools to do so.

At PactSafe we continually strive to build and evolve our products to meet specific industries’ needs and ensure our clients policies and practices are compliant. For this article we took a look at some progressive analytic tools that mirror our business’ values and have created solutions for specific industries. It’s crucial for businesses to prioritize analytics in 2018; the data is there, and the new year is a perfect time to figure out how to leverage existing data to reach growth goals.

Here are some analytic tools built for industries that are putting data and analytics at the center of success in 2018.

Sports: Analytic tool Hudl is helping sports teams analyze game data faster and smarter, improving performance at an excelled rate.

Hudl is performance analysis for all levels of sports. The tool provides sports teams the ability to edit and share game video, as well as analyze and share statistics. In an industry that did not have a technological standard for evaluating and analyzing game play and stats, Hudl has been able to shape how coaches and teams leverage game-play data to improve performance. This helps teams figure out success tactics faster, allowing them to train and prepare appropriately from the get-go.

Hudl’s value is centered around being data-driven, providing reports for teams to see exactly where they need to improve. Based on performance, next steps and desired results are immediately available, saving coaches the many hours they spend manually reviewing data and film.

Healthcare: Solv is an app that uses data to dramatically cut time for treatment and access to medical assistance.

The Healthcare industry has been slowly moving towards more automated features to better serve and care for patients. With CRM tools to help manage labs’ and hospitals' mass amounts of data, delivery of care is becoming more patient-driven—and hospitals and labs are being measured by this key metric. Solv is an app built around serving the patient, developing technology for people to book a doctor appointment like you do a table reservation on OpenTable, completely reinventing the pace at which to diagnose and treat sickness.

With your insurance information in the app, patients can see where their insurance is covered. The booking software used "lets clinics see reservations, access patient data, and operate the iPad check-in system.” (Fortune) Because a patient’s health record is immediately available through the application, Solv can dramatically cut the time for treatment and access to medical assistance.

Leveraging data in your industry: How to use existing data to improve efficiency today.

There are several simple ways to leverage your existing data to improve internal processes and better relationships with your customers and partners. An effective, immediate area to start is the first touchpoint you have with customers: contracts.

Use data in your CRM to cut out timely tasks: If your sales team uses Salesforce, take your already-organized and stored data to cut out hurdles to deal closing by automating contracts and agreements. Our tool on the Salesforce AppExchange allows users to connect to all of their contract templates and quickly send them for acceptance from an Opportunity, Account, or Contact. Using existing Salesforce data, this removes the pain of the back-and-forth of sending contracts through email.

Invest in analytics: Get the value of the information inside your contracts post-signing to build better, long-lasting partnerships. See who has accepted each and every contract version over time to build an intelligent database of record, versus the current arduous process of contracts being sent and stored within email. Our analytics and recordkeeping features help teams intelligently manage their business and customer relationships.

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