AI in sales gains momentum: Qymatix Experts Fully Booked in November
Karlsruhe, 07.12.2023. The topic "Artificial Intelligence in Sales" is becoming more and more popular! In the last few weeks alone, Lucas Pedretti, CEO of Qymatix Solutions GmbH, has been a guest speaker at four exciting events:
Intelligent, Predictive Pricing: the Key to B2B Wholesale Success
Digitalisation is a blessing and a curse, an opportunity, and a threat. Nearly 900 German wholesale companies took part in a recent study by Roland Berger and the German Wholesale, Foreign Trade and Services Association (BGA). Almost all of them, 94%, believe that digitalisation is driving change in their sector. Two-thirds are aware of the challenges it poses.
In particular, the companies surveyed see themselves threatened by digital platforms when it comes to pricing (62%).
B2B Wholesale Future Trends 2024
Across B2B wholesale future trends 2024, you’ll see a few key themes: technology, personalisation and change.
Some are accelerations of global movements, while others are specific to the B2B space. We’ll break down what you can expect in 2024 and where these movements are coming from in this quick, 5-minute read.
The Most Important KPIs in Distribution and the Influence of AI
Key Performance Indicators (KPIs) are also used to manage companies in the retail and wholesale sectors.
AI in the form of predictive analytics can establish correlations between individual KPIs and thus provide recommendations for action.
Numerical parameters are necessary to understand the current situation of a business. Key Performance Indicators (KPIs) are indicators that can be used to measure and determine the performance or degree of fulfilment of pre-defined objectives within a company.
Optimizing AI Efficiency: Effective Use of Data via Qymatix Cloud Connector
As businesses increasingly leverage artificial intelligence (AI) to streamline operations, optimize decision-making, and gain insights, the role of data as the lifeblood of AI has become indisputable. Data acts as the foundation upon which AI models are built, providing the raw materials necessary for AI to learn, adapt, and evolve.
However, manually handling and extracting data for AI can be time-consuming, costly, and fraught with errors. This is where the Qymatix cloud connector comes into play.
Predictive Analytics vs Prescriptive Analytics
With so many types of data analytics and analytical methods out there, many people are curious about the relationship between predictive analytics vs prescriptive analytics.
Today, we’ll review all four types of analytics and delve into predictive and prescriptive analytics to help you understand when and how to use both.
Read more
What artificial intelligence can and can´t do
For years, artificial intelligence has fluctuated between the terms "Terminator", "technology of the future", or "new superpower", and "doesn't work", "is disappointing", or "no confidence".
It is not surprising that there have repeatedly been so-called "AI summers" and "AI winters" over 70 years. More specifically, there have been two AI winters since the 1950s, when AI was being researched and developed: In the early 1970s and late 1980s, the high expectations for the technology were dashed. Investors pulled out, and researchers got less funding.
Read more
The Top 3 Predictive Sales Analytics Software for B2B Wholesalers in Germany
The rise of e-commerce has put much pressure on B2B wholesalers in Germany to optimize their sales strategies. With around 5,000 to 10,000 customers with 20,000 to 100,000 articles, it is challenging for wholesalers to predict customer behaviour, find the optimal price for each customer and profit from cross-selling chances.
That is why, for example, leading companies such as High Precision Components Witten GmbH, KIS Antriebstechnik GmbH & Co. KG, Armbruster Engineering GmbH & Co. KG and X-Bond GmbH & Co. KG have created a research consortium together with the Chair of Industrial Sales and Service Engineering (ISSE) and the Sales Management Department (SMD) at RUB.
Read more
How Artificial Intelligence improves Sales Forecasting
Creating and using AI sales forecasts is essential for any B2B company. It is also one of the most important tasks for sales managers who use sales forecasts for sales planning and strategy.
There are many ways to create sales forecasts. From sales rep surveys and estimates of future sales to rule-based Excel calculations or business intelligence applications. But the most unbeatable predictions use artificial intelligence. This article discusses why this is the case.
Roughly speaking, sales forecasts help companies gain some planning certainty in an uncertain future. The goal is to allocate resources efficiently, save money and costs and increase sales.
Read more
Data Mining ERP in B2B Wholesale & Distribution
B2B sales managers and managing directors of specialised wholesalers in Germany face many challenges in today's competitive business environment.
The rise of e-commerce has made it necessary for wholesale distributors to leverage data mining in ERP to stay ahead of the competition.
By analysing wholesale customer data and implementing artificial intelligence in their ERP, B2B wholesale distributors can gain valuable insights into customer behaviour, identify the most profitable products, and find the optimal final price for each customer. They can also retain customers before they lose them.
Read more