cold calling's advantage is that you don't have a preconceived notion about your customer that might hamper your selling effort. knowing beforehand a specific prospect's behavior might be more harm than good in some cases.
lets say for example, you were already informed that this potential customer is extremely tightfisted. creating and over-analyzing a sales strategy for that particular customer might just backfire and lessen your confidence and things might not go as naturally as you intended. you might become too conscious of your mistakes or you'll try to impress the prospect too much which might make the latter reluctant about not only you, but the product that you're selling.
It really depends on your product. If you have a specialized product and targeting a specific market, then it is your golden ticket (plus a whole lotta patience) to your big commission.
about your question, in my opinion, cold calling is only effective when the market you're calling is the perfect target for your products. for example, you wouldn't want to pitch a washing machine to a very busy CEO of an accounting firm, you'd just be wasting yours and his time. so the primary importance for cold calling is targeting the right market, picking someone who is relevant to the product you're offering.
thank you for the post Clahlel, hope you'll enjoy your stay here!