Crystal balls, tarot cards, and astrology are no match for predictive sales analytics. If you want real predictive insights for better-informed decision-making and a more efficient sales cycle, take our advice and skip the woo-woo.
Predictive sales analytics employ predictive algorithms and patterns in your company’s historical data to generate sales forecasts, anticipate customers’ behaviors, and advise better campaign designs. It is immensely useful in sales because it can help you convert more leads into customers and determine why deals sometimes fail despite your best efforts. You don’t have to look to your hands for palm readings anymore because predictive sales analytics predict future behavior based on past behavior. With the help of data mining, analytics, and machine learning, foreseeing trends and patterns has never been easier. And considering the recent/ongoing economic uncertainty and market volatility, predictive sales analytics could prove an essential part of your sales strategy for stability and sustainability.
Sales enablement tools like predictive sales analytics paint a broader picture of what lies ahead and equip you with the information needed to tackle the future with finesse. It allows for multivariable forecasting, meaning that your projections are based on not just your previous sales performance, but all of your currently processing deals, pipeline customers, and more.
Here are just a few of the benefits of predictive sales analytics:
- Better lead scoring
- Shorter sales cycles
- More efficient salespeople
- Predictive forecasting
One of Data41’s clients – a global leader in genomics (an industry at the intersection of biology and technology) – now uses AI/Machine Learning and predictive technology like IBM’s data science solutions to strengthen their sales forecasts. To keep pace with the rapid advances in technology taking place, it was critical to offer them solutions that are not only innovative, but flexible, and scalable, with industry-leading support and service.
I know we told you to reject the woo-woo…but if you’re looking for a sign that you should be using predictive sales analytics… THIS IS IT. THIS IS THE SIGN. Predictive analytics are the future of sales and with the accelerating advancements of AI and Machine Learning, these tools are only going to get more accurate. To maintain your competitive edge, a tool like this is imperative.
If you’re not sure where to start, we won’t read your palms, but we’ll hold your hand and guide you through the process. Data41 is here to help.
You can contact us here to request more information about our services and solutions.
Related resources:
https://demand-planning.com/2019/09/19/differences-between-demand-forecasting-predictive-analytics/
https://www.zencos.com/blog/advanced-analytics-model-guide-forecasting/
