Sales Analytics Solutions To Solve Enterprise-Level Challenges
14 Feb. 2020 Data Analytics
Enterprises collect and handle an immense volume, velocity, and variety of data every day. Managing such a large amount of data and harnessing it for improving productivity is a significant challenge for organizations today. It is more critical for their sales functions, where finding key insights and closing potential deals quickly is crucial.
Therefore, across domains, organizations have recognized that technology investment could lead them to better business performance. They are moving toward specialized tools such as sales analytics solutions to resolve enterprise-level problems. It includes handling sophisticated marketing, advertisement, customer support, and more.
The article highlights potential problems that can be solved using our sales intelligence solutions. And how we help businesses improve decision making with advanced analytics and BI.
Problems That Can Be Solved With Our Analytical Solutions
|Problem||Our Analytics Solution Helps To|
|Refine inventory management||Track the number of metrics, such as stock-to-purchase ratio, slow-moving stock, and more|
|Analyze past sales||Predict conversion costs and help sales representatives prioritize the amount of time spent on each prospect|
|Monitor the demand||Encourage managers to change price rates to improve profit margins and slow-moving stock sales|
|Set up sales performance metrics||Monitor the average size of the deal, lead conversion rate, cost-to-sale ratio, and enterprise value|
|Calculate marketing metrics||Evaluate based on fine-tuning marketing campaigns, assess their efficacy, consumer lifetime value, and anticipated response rate|
|Recognize promotions that do not produce a positive response||Restructure marketing strategy & change the target audience|
|Prioritize high-value customers||Predict response rate to help retention-focused deals and lower customer churn|
|Detect emerging trends in customer behavior||Address trends in sales and disclose new revenue stream options|
|Analyze the ROI of all marketing campaigns||Define the most profitable segments, locations, or promotional time slots and set the optimal frequency|
How We Help Solve Enterprise Sales Problems with Analytics
Data uncertainty is one of the significant problems business leaders are facing today. 80% of data collected by organizations across industries is unstructured. In such a rapidly growing big data scenario, we offer advanced analytics services to help enterprises end data silos.
Toward this, let’s look at how we helped a US-based retailer in solving enterprise sales challenges with analytics through our sophisticated BI solution. It covers the below essential elements.
Analytics-driven BI Dashboard
It empowers employees to determine and implement their strategies to aggregate data and setup intelligence reporting automatically. As part of it, they can store, manage, and tweak the data, and further, dig deeper into it for deriving meaningful insights as part of the sales function. Besides, this information can be shared with strategic partners through the dashboard directly.
Compelling Data Visualization
Our sales intelligence solutions comprise a variety of tools, including tables, charts, graphs, and more, for an excellent assessment of the numbers and trends at a glance. The visualization of current results with the comparison to previous year charts is a key here. It helps track the overall sales performance of the organization without focusing on specific numbers, which leads to better decision-making.
Sales Intelligence Predictive Analytics Tool
The deployment of predictive models in the analytics tools supports the business’s sales decisions. It enables teams to analyze actual sales numbers, customer behavior data, and predict future outcomes with precision. Thus, it helps create effective sales strategies to engage more customers, even without the inputs from the business intelligence analyst.
Our advanced analytics tools & reports help simplify the workflow of the sales function. The integration of organizational databases with other applications in-use saves time by allowing access to all the information in one place rather than operating different tools.
To sum up, we helped the client to build a data model powered with BI for solving enterprise sales challenges with analytics. It allows them to:
- Continuously gain visibility into sales operations
- Identify any bottlenecks with integrated BI dashboards and visualizations for further actions
As a result, it boosts the end-customer satisfaction rate, and they experience skyrocketed growth.
The ready-made analytics software is not a panacea to cure all ills. Every business has some specific requirements, and it needs a customized BI solution for a successful digital business strategy. Rishabh Software has the requisite in-house talent to tackle your job of using analytics solutions for common enterprise sales problems.
Our efficient analytical solution helps you gain short-term, tactical wins, as well as strategic business successes in the long term. It means you can reduce overload across the breadth of your organization and improve ROI.