Everybody knows, B2B pricing analytics represents one of the most critical levers to boost earnings. Still, this reality is a sometimes-overlooked fact in Business-to-Business (B2B).
However, getting B2B pricing right can represent both financial success and substantial competitive advantage. Pricing is not only a driving factor in for-profits, but it also impacts how customers and markets perceive brands.
ERP Data Mining: what we learnt from analysing 100 million of B2B sales transactions.
Data mining is the application of a varied assortment of statistical techniques to ERP datasets. Companies nowadays use data mining to predict outcomes, identify sales trends, prevent customer churn, and dynamically adjust pricing strategies.
Mining enterprise resource planning (ERP) sales data is critical in Business-To-Business, where small improvements in sales efficiency can have a significant impact on results. Mining ERP sales data helps customers to unlock a significant amount of value, discover quick-wins, and to prioritise their sales activities. Automatizing this process is possible today with the help of artificial intelligence (AI).
One Secret? There are at Least Three Pressing Reasons Why Predictive Sales Analytics Cannot Wait Until Tomorrow
Predictive analytics covers a variety of statistical algorithms from machine learning, predictive modelling and data mining. It analyses past facts and historical data to make predictions about events and to identify the likelihood of future outcomes. Predictive analytics has been around for years, but it was impractical in large-scale sales settings due to an inadequate data analysis infrastructure.
How Big Data and Advanced Analytics Are Revolutionizing Sales in B2B, and What Managers Should Know About It.
B2B customer buying experience is radically changing. This trend has led to dramatic changes in the sales profession over the past decade.
“Nothing is so painful to the human mind as a great and sudden change”, wrote Mary Wollstonecraft Shelley in Frankenstein. Sales management in B2B is experiencing an abrupt and rapid transformation.