Artificial intelligence in Retail - What can Wholesale Learn from Retail?
How is artificial intelligence (AI) being used in retail and what can wholesalers take away from it?
In this post, I will describe a real-world example of a case in the realm of artificial intelligence in B2C retail. You will learn about the opportunities and challenges that were encountered when using AI systems.
Of course, it is particularly interesting to see which factors can be transferred to B2B wholesale.
Better Customer Retention in B2B Wholesale Through Algorithms
Learn three ways to increase customer loyalty with algorithms and Predictive Sales Analytics in B2B wholesale.
Should computer programs be able to increase customer loyalty in wholesale? Yes. And no. We'll discuss what is exactly meant by this in this post.
According to a survey by Roland Berger, customer loyalty was already a top priority for wholesale companies in 2016. However, 1 in 5 wholesale companies also believed that their efforts in the area of digitalization were not yet sufficient to survive the digital competition.
How to avoid the Causality Trap of Black-Box Machine Learning
Sales Acceleration with Predictive Analytics Software: How to avoid The Causality Trap of Black-Box Machine Learning.
Successful B2B managers use AI-based predictive analytics software to accelerate sales. However, they often want to find for themselves what the characteristics of their main profitable customers and leads are.
You know this situation well. You want to predict success. You would like to create a set of rules that your sales team can follow to avoid customers from churning or to find hidden sales opportunities. Why cannot your AI sales software do that?
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Data-driven Management - has Intuition had its day?
Which decisions are better? Intuitive decisions from the gut or rational decisions based on data and facts?
This question occupies countless researchers, and there is still no clear answer. Currently, in the age of big data, data mining and digitization, the importance of data for a business is undeniable. In the business world, executives prefer analytically sound decisions. They are verifiable, justifiable, and data can explain them.
In reality, however, the situation is different.
Predictive Analytics & Controlling - How to use it in B2B Sales
How the sales analytics tools you use impact your sales controlling.
Controlling sales in B2B is increasingly becoming a high-tech game. Since selling cycles in business-to-business are getting longer and sales is getting more expensive, controlling need to look further into the future.
Machine learning, a well-known example of weak artificial intelligence, represents a fantastic opportunity for improvement in B2B sales controlling and business intelligence. It enriches the world of sales analytics with a substantial competitive advantage.
B2B Sales Trends - What Really Matters
What are essential trends in B2B sales and how to succeed in this flood of innovation?
B2B Sales is fighting an innovation race. Sales managers often have to decide whether they want to engage in a new "sales trend" or not. Which new sales channels should they consider? Which supporting IT programs implement? Which new methods are adopted and which are not?
According to Gartner, purchasing behaviour in the B2B sector is adapting to today's fast and innovative economy. During this "big data" age of new technologies and rising customer expectations, companies should not stick for too long to old structures. In short, a stagnating company cannot survive in such a dynamic market.
Predictive Customer Analytics: From customer analysis to customer value
Customer analytics with predictive analytics can provide valuable information for sales activities.
Do you really know your customers - and not only the large-scale customers? Successful Customer Analytics should provide you with all the critical information about your customers. What are their preferences? How do they shop?
Using customer data, predictive analytics can determine individual opportunities for offers and subsequently determine the value of a customer.
B2B-Trends 2020/21: The Top 6 in Sales
Whether digital platforms, AI or chatbots. In the future, B2B sales must deal with these six critical trends.
Experts guess every year what the next hot B2B trends will be. Artificial intelligence is on the main scenario now, for B2B sales and its future development potential.
We have looked at several studies and sources and have summarized the top six you should know now.
If Your Data Is Bad, Your Sales AI Tools Are Useless
Artificial intelligence (AI) is steadily advancing in B2B sales. AI is changing the way customers are buying and therefore how salespeople should work.
The gathering of data, its quality, the source systems, all play a central role in the implementation of AI in Sales. Poor data quality may be hard to measure, but it takes an essential part in the application and execution of artificial intelligence systems and predictive analytics.
Why Algorithms Are The Future Of Sales Success
We put our lives in the hands of autopilots regularly. When are we trusting AI with our customer relationships?
Lawrence Sperry was the third son of Elmer Sperry, one of America’s most prolific inventors. Elmer filed 400 individual patents, more than twice the amount of Thomas Alva Edison. Father and son together not only invented together, but they also manufactured and sold their inventions through their companies too.
Lawrence invented the autopilot. He took one of his father’s most famous inventions, the gyrocompass, and developed an automatic flight control system.