Predictive Analytics Blog – The Best of 2022
The year is coming to an end, and with that, we present you in this post our five most successful blog articles from 2022.
This year, we’ve also earned our Christmas break, because as John Steinbeck said so well, “The art of resting is part of the art of working.”
With these five posts from our Predictive Sales Analytics blog, we ring in a restful and reflective holiday season and we also want to say THANK YOU.
Thank you for being so interested in our posts on Predictive Sales Analytics. We are happy about every reader.
Now we wish you happy holidays with friends and family. Stay healthy, and we will see you again in 2023!
1. The History and Downfall of a German Wholesale Company “Wollschläger” – Part 1
What are the lessons learned from the history of one of the largest wholesale companies from Germany that went down? This is part one of the extremely interesting history of the Wollschläger Group.
How one of the biggest German industrial distributors went down – 79 Years of the Wollschläger Group.
In 1961, a 14-year-old ambitious young individual, Frank, sat alone in a car near an industrial building. He was cold. The region around Bochum is chilly in winter, with temperatures below 5°C on average. Coming from Gdańsk (Danzig in German) two years ago, he was now waiting for his father.
Heinz Wollschläger, was a successful company founder and businessman visiting a new customer. He had founded his company in 1937, before Frank was born, in Danzig, close to the former Poland border. Like many entrepreneurs, his story began in a garage.
Heinz Wollschläger specialised in welding technology. He opened his first branch in Bochum in 1959. Located in the heart of the German industrial province of North Rhine-Westphalia, the city would become an essential part of his history.
When the father gets back in the car, the son, asks: “… and dad, how was it?”
2. The most interesting thing about marketing and sales in B2B
What sales was and will be in the future.
This article is a personal one. I have written about exciting facts in business-to-business (B2B) sales and marketing. I have also shared our thoughts about the sales of the future.
In this article, I would like to list my personal choice. What are the most interesting things about sales and marketing in B2B?
About me: I studied electronic engineering and started a career in sales more than 20 years ago. I worked for Festo, Omron and Belden-Hirschman before founding Qymatix. The fax was ubiquitous in sales. Other technologies were appearing. I sent my first electronic mail in 1999, got a mobile phone a year later.
3. Market Basket Analysis in Excel – Example for Cross-Selling in B2B
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”.
Regardless of its name, cross-selling is a well-known sales strategy in B2B, where the cost of acquiring new business is usually significantly higher than selling one additional product to an existing customer.
4. Why You are Not as Successful as You Think – Cognitive Biases in Everyday B2B Sales.
What perception disorders influence your (mis)success in B2B sales?
I’m pretty sure you won’t like to hear some of the things in this article. However, my advice to you is: open your eyes and get through it! It will be worth it for you…
You probably assume that your (sales) successes of the last weeks, months and years were deserved, and you are proud of your achievements. Today I will show you why, although you certainly did a good job, you still only had a negligible impact on your professional and private success.
We all know optical illusions. These are images that have been created through visual trickery in such a way that our eyes, as well as our brains, partially misperceive them. While these perceptual errors are more like gimmicks in a library optical illusion book or social media feed, perceptual errors on a cognitive level are much more far-reaching. For example, the so-called “egocentric bias,” which we’ll look at in a moment, leads individuals who frequently indulge this error to evaluate our society as fairer than others and donate less, among other things.
CALCULATE NOW THE ROI OF QYMATIX PREDICTIVE SALES SOFTWARE
5. Four Situations Where you Should Not use Machine Learning
Machine learning (ML) is a great technology. But does it really have to be used all the time? This post is about four situations where you shouldn’t use machine learning.
There is (rightfully) a lot of hype around artificial intelligence and machine learning (ML). As we said, great technologies and use cases are emerging from it. You can also find many examples that use machine learning in our blog articles. But in which situations is machine learning not necessary?
Remember, there are always exceptions to the examples to come. However, your AI project will probably be five times more difficult if these examples apply.