Redmond, Wash-based Versium, a data technology company, adding its automated predictive analytics solution to Microsoft Dynamics 365 for Sales.
Versium Predict will enable Dynamics 365 for Sales users to leverage data science and programmatic machine learning to prioritize leads for sales and marketing and create custom audiences for improved campaign performance, the company noted in a statement.
News of the integration comes just a day after Microsoft announced the release schedule for Dynamics 365, which combines its customer relationship management (CRM) and enterprise resource planning (ERP) offerings under one hood.
Versium Predict is designed to help users forecast when consumers and businesses are most likely to purchase products or services, and what they are likely to buy.
Using the customer data already available in Dynamics 365 for Sales, it "enriches each contact with thousands of new attributes" from Versium’s LifeData warehouse and then "uses machine learning to build the models without requiring data scientists," the company said. This automated process allows sales and marketing to incorporate predictive analytics into their everyday workflows.
LifeData contains both online and offline data such as online behavioral data, social-graphic details, real-time event-based data, purchase interests, financial information, activities and skills and demographics.
Versium CEO Chris Matty told CMSWire the partnership announcement is aligned with the launch of Customer Insights in Microsoft Dynamics 365.
“Our differentiator is that we have extensive consumer and business data attributes, which make our models the most accurate and the automation that allows full integration of predictive lead scoring and lead generation as a feature in the CRM,” he said.
Matty and Steve Crosetti founded Versium in 2012. It has raised $3.83 million in two rounds of funding.
Earlier this year Gartner identified it as a Retail Cool Vendor, noting its “low-cost, available computing power, together with the abundance of complex unstructured data, is fueling the rise of artificial intelligence solutions that can go beyond the traditional big data analytics.”
Matty said Versium Predict is the only solution that incorporates both B2B and B2C data, which enables users build all-encompassing signals. Traditional predictive lead scoring uses a limited set of rules to drive the scores, he said. It's also the only offering in the space that operates 100 percent inside the CRM, he continued.
It then builds the models, scores lead, generates new leads and adds data insights to the leads within the CRM, in a few clicks, he said.
Adding Insights to Dynamics
Although Microsoft has already embedded artificial intelligence in the Dynamics 365 software, "it does not have insights into the lead, contact or account outside of this universe,” Matty said. The Versium integration will generate new, targeted prospect lists from the predictive model to drive campaigns, including email, phone, direct mail and display audiences, he explained.
Predictive scores enable prioritization of prospects for coordinated marketing campaigns and the creation of custom audiences.
Versium has two primary product lines available now — Datafinder for data enrichment and Predict for predictive modeling. It's now working on others, including scores that predict lifetime value, retention and annual spend.