Since being acquired by Oracle last fall, DataFox has grown its company coverage by nearly 30% and is now being integrated into Oracle platforms including Oracle ERP, Oracle CX Cloud, and Oracle Marketing Cloud (Eloqua).
The CX Cloud provides Ideal Customer Profile (ICP) and Total Addressable Market (TAM) modeling based on DataFox firmographics and signals spanning 3.5 million companies. DataFox is adding 7,000 companies each day.
“We see B2B sales shifting from a field-first model to what we call a digital selling model. By that we mean that increasingly organizations are moving to inside sales teams that are aided by digital selling tools like Eloqua or like Slack,” says Des Cahill, head CX evangelist at Oracle. “We believe that a combination of data enrichment from DataFox and then AI and ML systems to guide employees is the future of sales.”
Eloqua integration with the Oracle Data Cloud and DataFox provides marketing with improved intent and account behavior insights.
The ERP integration supports supplier risk assessment with supplier scoring, risk signals, and categorization.
“As more organizations apply machine learning to core business processes, the quality of data being fed to algorithms is the single-most important factor that determines the value of AI results,” said VP of Product Management for Adaptive Intelligence Bastiaan Janmaat. “We built our smart data platform for the AI era and will continue to extend the capabilities beyond sales and marketing to include company-level data for use cases in finance, HR and supply chain.”
DataFox began as a dataset for investment banking, but “we just found a huge gaping hole, in terms of the quality of B2B datasets that were available in the market,” said Janmaat.
Whereas 15 years ago it was difficult to find company information, there are now filings, press releases, corporate websites, tweets, blogs, and other content which make it difficult to collect and assess company intelligence.
“There’s gold to be mined, but it’s a small percentage of what’s out there in the public domain. And that is a perfect problem to apply artificial intelligence to.”
Former DataFox CEO Bastiaan Janmaat (Oracle VP of Product for Adaptive Intelligence)
“Stagnant data sitting unchanged in sales and marketing systems and low-quality public data sources threaten ROI and reduce the effectiveness of AI deployments,” said Clive Swan, SVP of Applications Development. “DataFox is a key element in Oracle’s AI strategy and will help customers gain more value from the AI embedded in Oracle Cloud Applications. We plan to include more integrations across the entire suite of cloud applications to further enhance AI capabilities across finance, human resources and supply chain.”
DataFox is now available as an Oracle data cleansing and enrichment service, but will support three additional functions by mid-year:
- Similar company identification based on the ICP
- Account prioritization
- Providing “embedded dynamic signals” (talking points) to sales reps
Additional Eloqua enhancements are planned.
DataFox is also touting its dynamic territory planning service which was launched prior to the acquisition. Territory planning combines DataFox intelligence with internal company data such as win rates to dynamically assign and maintain balanced territories.
“What’s most interesting though, is that when Oracle DataFox detects a new account, that for whatever reason newly satisfies certain criteria and to make it a great target, it will dynamically enter that territory,” said Janmaat. “Either sales ops or the account executive gets pinged for that opportunity. So instead of a once a year exercise, it dynamically updates territories. They’ve seen tremendous results in terms of conversion rates and in deal size.