Market Basket Analysis

Sales-Controlling-predictive-analytics-B2B

The remarkable truth about Predictive Sales Analytics & Controlling

Is predictive sales analytics software the newest secret weapon in B2B?

No organisation will survive the next decade without harvesting the power of predictive sales analytics. However, many sales leaders in Business-to-Business (B2B) still lack the understanding of its benefits or the infrastructure they need.

Some ignore the value of their sales data, languishing unused in their ERP and CRM systems. Furthermore, B2B sales controllers are expected to gather an ever-increasing amount of sales data for their sales leaders to neglect value extraction. Moreover, there is no value in the data if it is not used to improve revenues.

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sales-ai

When is Artificial Intelligence Replacing my Sales Job?

Will Artificial intelligence replace your Sales Job?

We believe that automation and artificial intelligence simply replace jobs. They do not. They replace the skills and tasks of a making up a profession instead.

Therefore, if you are wondering when artificial intelligence is going to replace your sales job, you need to analyse which tasks and skills make it up. High-productivity jobs – such as B2B Sales Jobs – requires advanced skills such as decision making, problem-solving, and advanced analysis.

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Warenkorbanalyse Excel mit einem apriori Algorithmus

Excel: Example of a Market Basket Analysis or Cross-Selling

 
One Useful Example of Predictive Sales Analytics Using Excel

Cross-selling is the practice of selling an additional product or service to an existing customer. Indeed, B2B companies define cross-selling in general and cross-selling analytics in particular, in many ways and with many names. One common naming used in retail or distribution is “market-basket-analytics”.

Most of us are familiar with cross-selling from our experience as online consumers. “Customers that bought X also bought Y” or “related products”. E-commerce websites make product suggestions based on a market basket analysis. The list of the possible suggestions is also known as “associating rules”. Marketing practitioners talk about “Buying Propensity”.

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sales-facts

Five interesting Facts & Statistics About B2B Distribution

 

B2B Sales is changing because buyers are changing – mainly in the way they buy. Companies in B2B distribution are particularly affected by the changes in customer behaviour and their competitive environment. The shift in customer behaviour is the primary driven-factor behind the digitalisation of sales.

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predictive analytics in construction

Predictive Analytics in B2B E-commerce: A customer acquisition example

Predictive Analytics – Opportunities for new customer acquisition in B2B e-commerce using the example of an Austrian construction supplier.Mr Haunschmid, please introduce yourself to our readers.My name is Thomas Haunschmid, and I live in Lower Austria.

As “Business Manager E-commerce” I work daily with new trends and strategies to improve and optimise the buying experience of our B2B customers.

There is one trend that Business Managers cannot avoid in E-Commerce these days: the systematic use of data to optimise product and sales strategies.

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