How to Set More-Realistic Sales Targets using Historical Data
How to set more-realistic sales targets using historical data and Predictive Analytics.
To replace the legendary Jack Welch as CEO, the General Electric (GE) Board had selected Jeffrey Immelt in November 2000. As he took the reins, Immelt set an ambitious sales target: “We believe that GE can grow two to three times faster than world gross domestic product, which translates to about 8 per cent sustained sales growth.”
To give you some perspective, the industrial segment of GE had grown 4 per cent historically.
Likewise, on December 4, 2003, Rockwell Automation announced that its board of directors had elected Keith Nosbusch as president and chief executive officer.
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.
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How To Accelerate B2B Sales Growth With One Proven Strategy
Revenue stagnation is a nightmare most managers are scared to dream. If a market is growing in line with the economy and income stagnates, then market share is approximately contracting, and a company is becoming irrelevant. No manager wants that.
Predictive Sales Analytics: Can you anticipate your customers’ journey?
Nowadays, new technologies enable a highly detailed understanding of the way customers buy, fancily known as “digital customer journey”. They also allow a cost-effective application of predictive analytics in Business-to-Business (B2B) sales.
Artificial Intelligence Software Development: The True Costs.
The question is no longer "if" a B2B company will implement artificial intelligence (AI), but "how".
AI tools enable more efficient work in many areas. B2B sales is no exception. Artificial Intelligence Sales Software saves time, stress and costs, while improving customer lifetime value and experience.
Companies that do NOT adopt AI-powered tools will be significantly more inefficient than their competitors and will be left behind.
Since you are here, my guess is that your already know that. For that reason, let’s focus on the “make or buy” decision and park the benefits of AI-powered software in another article.
Artificial Intelligence vs Business Intelligence - What is really self-service business analytics?
The difference between Business Intelligence (BI) and Self-Service BI and why Qymatix Predcitive Sales Software is not a traditional Self-Service BI solution.
2018 said Carlie J. Idoine, Research Director at Gartner:
"The trend of digitalization is driving the demand for analysis in all areas of modern business and administration.”
That's right. Not only large companies and big players, but also more and more SMEs have recognised the value of data analysis: Data-supported decisions to achieve corporate goals.
5 Ways AI and Machine Learning are Revolutionizing Sales
Artificial intelligence and Machine learning revolutionize B2B Sales & Marketing
Machine learning and artificial intelligence (AI) in sales are not dreams of the future. According to Gartner, 30% of all B2B companies will already use AI next year to expand at least one of their sales processes.
What is machine learning anyway?
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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.
Why a CRM System with Predictive Sales Analytics and AI?
CRM and Sales Analytics: In this article, you will learn what you can expect from a CRM system with artificial intelligence.
Using CRM systems have long been a common practice in large companies today, even if not always successfully implemented. Small and medium-sized enterprises (SMEs) often still have some catching up to do.
Meanwhile, the next expansion stage has long been underway. Predictive sales analytics/artificial intelligence (AI) is being added to the CRM systems.
