Pricing Analysis in Excel: Make A Price Corridor in Three Simple Steps
This article describes a step-by-step introduction to price corridor analysis with Excel.
You will learn the meaning of a price corridor and how to create a price corridor in Excel from a list of sales transactions in your ERP system.
Let us disclosure that our software uses AI-based data mining methods to present a B2B pricing strategy to Key Account Managers. Based on these data mining algorithms and techniques, we would like to discuss how any sales representative can create a price corridor for predictive analysis using Excel.
B2B Digital Transformation in Sales: Facts & Trends
Facts and trends about the B2B digital transformation.
If you are leading a Business-to-Business manufacturer or distributor, you know it already: sales is currently experiencing a massive transformation across the globe.
Advancement in artificial intelligence technologies of the last five years is providing manufacturing businesses and distributors with new exciting potential.
According to McKinsey, companies now have at their disposal a set of powerful technological tools that are, when properly implemented, able to guarantee future growth:
Predictive Analytics to Understand Customer Behavior in the B2B Sector
For some B2B companies, predicting customer behavior is like guesswork. Managers sit together and try to make predictions about upcoming sales, future pricing or appropriate customer loyalty measures.
Often these forecasts are based on sales reports, sales representative’s own gut feeling and, Excel analyses created with a lot of frustration. Don't get us wrong, the gut feeling of an experienced sales team can very often be right, especially when it comes to customers they have had a lot of contact with. But what about all the other customers?
Continuity versus Change - The "Rope Effect" in B2B Sales
Many talk about a change or even a transformation of business-to-business sales, but some things will remain the same in the future.
In this article, I would like to look at both sides and find an answer to the question: What remains better as it is and what was not better in the past?
I, too, got my information for this post from articles with names like "The Turbo Transformation" or "The Next Level: B2B Sales 4.0" because, of course, it is more exciting to write about what is radically changing than about what is staying the way it was decades ago. But especially in times of such substantial change, we should also think about what will probably remain as it is right now in ten or even 50 years.
The food for thought on this topic came from the successful German podcast "Gemischtes Hack". In one of the more recent episodes, the two hosts, Felix Lobrecht and Tommi Schmitt, talk about what they call the "rope effect." This paraphrase refers to objects, methods or practices, such as the rope, which has been used for thousands of years and is unlikely to find a dangerous substitute for decades to come.
In the following chapters, we will look at which sales areas are undergoing radical change and what these enduring ropes of sales will be.
Artificial Intelligence in a Construction Machinery Company
Artificial intelligence technology can be used in a wide variety of areas. In this article, you will learn how AI was used in a mechanical engineering company.
I've already written a few posts on this blog about Artificial Intelligence (AI) in sales. Simply a fascinating topic for an old sales hand like me who has worked with several different CRM systems as well as sold AI systems.
For someone in sales, the area of predictive analytics is particularly interesting - an AI is able to predict sales opportunities. That's why I report on a specific case study below.
Read more
Predictive Sales Analytics in Excel? Yes, you could!
How to do predictive analysis in Excel: One Useful Example of Predictive Sales Analytics & Predictive Modeling in Excel
One of the critical tasks of a sales manager is to timely identify which opportunities have better chances of closing and what makes a “good” sales opportunity. Getting this job right is the essence of successful sales planning.
Key Account Managers in B2B typically serve hundreds of customers and oversee dozens of new and existing sales opportunities. They have limited time and represent one of the most valuable resources any company can have.
Forecasting Individual Customer Lifetime Value: Why You Should Not Use External Data
There are two types of historical data to use for predictive analytics and sales forecasting: internal and external data. How to know which one to choose?
Making a forecast always requires planning under conditions of uncertainty. Successful sales executives plan and execute an accurate sales forecast using data. For an aggregated, precise sales plan, it is necessary to consider forecasting the individual customer lifetime of the client base.
There are different data sources that executives can use to forecast sales. Some of them count for internal factors while others count for external factors.
Predictive Sales Forecasting: Answers to 5 Questions of Salespeople
Why should we use predictive sales forecasts in sales? This article is aimed at anyone thinking of using AI for more efficient sales planning and sales management.
Every Saturday morning, Mr. Meier visits the magazine store around the corner to buy the weekend edition of his favourite newspaper. This has been going on for half a year now. The saleswoman knows Mr. Meier by now, and because he stops by every Saturday, she always addresses him with the same question as soon as he enters her store: "Good afternoon, Mr. Meier! The weekend edition, as usual?"
For Mr. Meier, buying his newspaper on the weekend has become a ritual. It's a pattern that repeats itself every week. The saleswoman has recognized this pattern and addresses Mr. Meier about it, almost automatically.
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.
Will Artificial Intelligence be Picasso of Tomorrow?
Can Artificial Intelligence be creative?
The cover picture shows the faces of four people. One person does not exist - artificial intelligence (AI) created it. Can you guess who? Number 1, 2, 3 or 4? Read the article to the end and we will tell you.
Today we stray a bit from our usual focus on modern data analysis with predictive analytics and B2B sales. We dedicate ourselves to the question of whether artificial intelligence can be creative.