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.
How to use Predictive Analytics in your CRM for Truly Data-Driven Decisions?
Successfully implementing Predictive Analytics for data-driven decisions in your CRM requires more than just software.
Every successful sales team wants to become data-driven. Companies that successfully execute predictive analytics in their CRM are easy to identify.
They take care of their salespeople and successfully utilise their current data and processes. They employ the standard software and adapt them to their situation. Finally, they introduce Predictive Sales to CRM step by step and learn from their experience.
Better Customer Retention in B2B Wholesale Through Algorithms
Learn three ways to increase customer loyalty with algorithms and Predictive Sales Analytics in B2B wholesale.
Should computer programs be able to increase customer loyalty in wholesale? Yes. And no. We'll discuss what is exactly meant by this in this post.
According to a survey by Roland Berger, customer loyalty was already a top priority for wholesale companies in 2016. However, 1 in 5 wholesale companies also believed that their efforts in the area of digitalization were not yet sufficient to survive the digital competition.
Fifteen questions you must be able to answer as a sales manager without hesitating
Sales Management in B2B is an ever-evolving discipline. The job has been rapidly changing over the past decade, and there is no stop in sight. New technologies emerge, Millennials hit the workspace and markets get disrupted.
Dynamic markets are nothing new. Technology, tools and analytics for B2B sales have invariably been moving forward during the past years. A new generation of sales representatives starts the job profession with different skills and expectations. Sales leaders need to answer what value can each new technology provide to their B2B sales organisation.
The most interesting thing about marketing and sales in B2B
What sales was and will be in the future.
This article is a personal one. I have written about exciting facts in business-to-business (B2B) sales and marketing. I have also shared our thoughts about the sales of the future.
In this article, I would like to list my personal choice. What are the most interesting things about sales and marketing in B2B?
Cooperation Between Sales and Telemarketing
What does optimal cooperation between field sales and telemarketing look like? Is it still possible today?
In this article, you will learn about the nine important conditions for telemarketing and field sales to work together optimally.
The following conditions for good cooperation apply to external telemarketing agencies, freelancers in the field, and internal departments alike.
But now to some structural explanations:
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 predictions are rare, and sales teams try to play a safe card by applying external forecasts. Companies are nevertheless better off using their in-house data - with predictive analytics.
"There are three types of lies: lies, damn lies, and statistics." This quote from Benjamin Disraeli, a British statesman and 19th-century novelist, fits the situation in companies very well.
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AI Data Visualization for Advanced Sales Analytics
Understand your sales data and achieve a much higher business success through an intelligent visualization from Qymatix AI.
Sales Analytics Visualization
“A Picture is Worth a Thousand Words.” That is how Qymatix works. With only one sales data visualisation you can directly access all critical information available at any time: where are the Low-Hanging Fruits, Cross-Selling Quick Wins, Customers at Risk of Churning and Price Setting Potential. Sales managers are now able to implement and track the most appropriate sales KPI and to measure the overall status of existing customers, segmented turnover and profitability and new customer acquisition.
What is a Predictive Score Model in B2B Sales? How Can You Create Yours?
A predictive score model is a formula to calculate a probability.
There is a 70% chance that you will read this entire article. How do I know this? Because I used a predictive score model. The score is the probability of you reading to the end of the article (or one minus the likelihood that you will not – the exact opposite).
My example in the paragraph above is a well-known application of predictive analytics in marketing. The most common examples in business-to-business (B2B) sales are lead scoring, churn (or customer attrition), cross-selling, and pricing.