Why is internal data considered more reliable and easier to collect than external data?
Simply explained: Why internal data is better for predictive analytics in B2B. Companies use sales forecast to make business decisions. They also employ them to predict future developments better than their competitors. However, reliable…
The Importance of Recommendation Systems Nowadays
How do recommendation systems work and why are they important for B2B companies? In recent years, the rapid use of the internet has made it clear that it is the most popular for communication and product purchases. As a result, the amount of…
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…
Intelligent, Predictive Pricing: the Key to B2B Wholesale Success
Digitalisation is a blessing and a curse, an opportunity, and a threat. Nearly 900 German wholesale companies took part in a study by Roland Berger and the German Wholesale, Foreign Trade and Services Association (BGA). Almost all of them,…
All About ERP Data Mining in B2B Wholesale Distribution
ERP Data Mining and what we have learned after analysing 100 million ERP 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,…
Where AI already Supports Sales Today
Learn seven practical use cases where artificial intelligence is already supporting sales today. More and more companies are using AI to streamline processes in sales and hand over unpleasant tasks to algorithms. AI is therefore assistance…
How to Successfully Automate Forecasting Processes in B2B Sales Controlling?
Properly applied, forecasts in sales controlling are essential for B2B companies. Nevertheless, they often fail. This article discusses why they fail and how you can use predictions successfully. Next to reporting, forecasts are one of the…
How Artificial Intelligence improves Sales Forecasting
Creating and using AI sales forecasts is essential for any B2B company. It is also one of the most important tasks for sales managers who use sales forecasts for sales planning and strategy. There are many ways to create sales forecasts.…
Predictive Analytics vs Prescriptive Analytics
With so many types of data analytics and analytical methods out there, many people are curious about the relationship between predictive analytics vs prescriptive analytics. Today, we’ll review all four types of analytics and delve into…
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…