How to Successfully Automate Forecasting Processes in B2B Sales Controlling?
Properly applied, forecasts in sales controlling are essential for B2B companies. Nevertheless, they often fail. This article discusses why they fail and how you can use predictions successfully.
Next to reporting, forecasts are one of the main tasks in B2B controlling. Some B2B companies waste valuable resources on forecasting processes, which are not used as they should be.
If you have landed in this article, you have already realised the benefits of successfully deployed sales forecasts. Feel free to check out this article if you need to be made aware of its benefits.
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Why AI-based B2B Sales Forecasting is Important and Still Fails
Do you want to realize your potential in B2B sales and be more successful than the competition? Accurate AI-based b2b sales forecasting is an insider's tip - right?
To help you understand what you should know primarily about b2b sales forecasting, I will quote Editor-in-Chief Michael Gilliland, who has published several articles in "The International Journal of Applied Forecasting."
"Our forecasts are never as accurate as we would like them to be or as they should be. The result is a great urge to throw money at the problem in the hope that the problem will go away. There are many consultants and software vendors out there who will scoop up the money in exchange for promises to improve forecast quality, but those promises still need to be fulfilled. Many organizations, perhaps including yours, have spent thousands or even millions of dollars on the forecasting problem, only to end up back with the same lousy forecast."
Sounds very motivating. The quote does not mean to be an introduction to an anti-forecast article, but it reflects the reality in many companies.
Artificial Intelligence vs Business Intelligence - What is really self-service business analytics?
The difference between Business Intelligence (BI) and Self-Service BI and why Qymatix Predcitive Sales Software is not a traditional Self-Service BI solution.
2018 said Carlie J. Idoine, Research Director at Gartner:
"The trend of digitalization is driving the demand for analysis in all areas of modern business and administration.”
That's right. Not only large companies and big players, but also more and more SMEs have recognised the value of data analysis: Data-supported decisions to achieve corporate goals.
Three B2B Sales and Marketing Must-Have Software Tools for an Optimal Sales Funnel
Navigating the technology jungle: Three B2B sales & marketing must-have software tools for a secure future.
There is a reason for the term "technology jungle". As a B2B company, it is often difficult to decide which tools for marketing and sales it should include in the software portfolio.
Artificial intelligence, in particular, offers new opportunities to harness the company's data. Many medium-sized B2B companies, such as wholesalers or manufacturers, have recognized this problem
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Is Germany too Sceptical for Artificial Intelligence in the Workplace?
There is a prejudice that the working world in Germany is mainly fearful and skeptical of a future with artificial intelligence. Is that really a prejudice or a fact?
Are you familiar with the term "German Angst"? It describes the fact that people in Germany are very reserved and sceptical about change. Misgivings often characterize our actions, and since the term is used internationally, this "fear of change" is perceived to be much more pronounced in our nation than in other countries.
The term "German Angst" also comes up again and again in specialist discussions about the development and use of artificial intelligence (AI) in the world of work. There is a prejudice that Germany approaches a future with AI mainly with fear and scepticism. AI visionaries and startups look longingly across the ocean toward the US because its attitudes seem more liberal, innovation-friendly and, not least, more spendy.
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The Art of Artificial Intelligence in B2B Sales
AI in B2B sales: How exactly can B2B companies use Artificial Intelligence to support their sales?
The applications of artificial intelligence (AI) are very diverse. It is not without reason that big players such as Apple, Facebook, Google or Samsung pour billions in the development of new AI technologies.
The management consultancy KPMG estimates that global AI investments will increase from twelve billion US dollars (2018) to 232 billion by 2025.
Sales Management with AI: Why Hyperautomation is becoming Inevitable in Sales.
By 2025, 75% of B2B organizations will use AI-powered sales solutions for hyperautomation, according to Gartner. Are you on board too?
There is keen interest in artificial intelligence (AI) and machine learning specifically for sales management in the B2B market. Gartner's "2021 CSO Priorities Pulse Survey" shows that investment in AI analytics and technologies is rising.
. It is well known that increasing competitive pressures, lower margins, and volumes of data not being appropriately used are critical drivers for sales management with AI. But other factors are making hyper-automation in sales inevitable.
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5 Ways AI and Machine Learning are Revolutionizing Sales
Artificial intelligence and Machine learning revolutionize B2B Sales & Marketing
Machine learning and artificial intelligence (AI) in sales are not dreams of the future. According to Gartner, 30% of all B2B companies will already use AI next year to expand at least one of their sales processes.
What is machine learning anyway?
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Is Dynamic Pricing Optimization in B2B Wholesale Financeable?
Wholesale market leaders are investing a lot of resources and expertise in advanced AI technologies for pricing optimization to set their prices dynamically. How can medium-sized wholesale companies also benefit from dynamic pricing?
Optimizing pricing in B2B wholesale is a big topic. No wonder pricing has the greatest leverage on margins. In our private lives, we have all had experiences with dynamic pricing. For example, at peak times, Amazon changes some product prices up to 70 times a week.
Predictive Analytics to Understand Customer Behavior in the B2B Sector
For some B2B companies, predicting customer behavior is like guesswork. Managers sit together and try to make predictions about upcoming sales, future pricing or appropriate customer loyalty measures.
Often these forecasts are based on sales reports, sales representative’s own gut feeling and, Excel analyses created with a lot of frustration. Don't get us wrong, the gut feeling of an experienced sales team can very often be right, especially when it comes to customers they have had a lot of contact with. But what about all the other customers?