Explainable, Responsible and Trustworthy Artificial Intelligence – What is behind?
Since June 2023, the "AI Act" has been taking shape. With the AI Regulation, the EU Parliament is for the first time planning a legal framework for the development and use of artificial intelligence (AI) - also known as the "AI Act":
“The European AI strategy aims to make the EU a world-class hub for AI and ensure that AI is human-centric and trustworthy.” - European Comission.
The Top 3 Predictive Sales Analytics Software for B2B Wholesalers in Germany
The rise of e-commerce has put much pressure on B2B wholesalers in Germany to optimize their sales strategies. With around 5,000 to 10,000 customers with 20,000 to 100,000 articles, it is challenging for wholesalers to predict customer behaviour, find the optimal price for each customer and profit from cross-selling chances.
That is why, for example, leading companies such as High Precision Components Witten GmbH, KIS Antriebstechnik GmbH & Co. KG, Armbruster Engineering GmbH & Co. KG and X-Bond GmbH & Co. KG have created a research consortium together with the Chair of Industrial Sales and Service Engineering (ISSE) and the Sales Management Department (SMD) at RUB.
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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.
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. From sales rep surveys and estimates of future sales to rule-based Excel calculations or business intelligence applications. But the most unbeatable predictions use artificial intelligence. This article discusses why this is the case.
Roughly speaking, sales forecasts help companies gain some planning certainty in an uncertain future. The goal is to allocate resources efficiently, save money and costs and increase sales.
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Deep Learning vs Machine Learning
Even before the advent of deep learning, we’ve been creating smarter processors that can help us do complex tasks like IBM Watson.
But now that machine learning has been divided into subsets, many of these terms get confused or conflated. Take deep learning vs machine learning; one is a part of the other, but often is thrown about interchangeably.
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Sales reporting: Measure the right KPIs and report them on a regular basis
Regular sales reporting is an important tool for sales planning, controlling and monitoring. In this regard, it is essential to reduce the effort of sales reporting to a minimum, while still reporting meaningful Key Performance Indicators (KPI) for the sales team and management.
Data Mining ERP in B2B Wholesale & Distribution
B2B sales managers and managing directors of specialised wholesalers in Germany face many challenges in today's competitive business environment.
The rise of e-commerce has made it necessary for wholesale distributors to leverage data mining in ERP to stay ahead of the competition.
By analysing wholesale customer data and implementing artificial intelligence in their ERP, B2B wholesale distributors can gain valuable insights into customer behaviour, identify the most profitable products, and find the optimal final price for each customer. They can also retain customers before they lose them.
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How to Predict Customer Churn in B2B with AI
For businesses selling ad-hoc, it's hard for companies to predict customer churn. That is in contrast to as-a-Service subscription-based businesses for whom identifying at-risk customers is more accessible right from the initial sign-up.
SaaS businesses benefit from constantly updated, deep, live client usage statistics in the free trial and beyond when they become subscribers. They build AI-based churn prediction models on historical data tracking how often clients log in and what features they use.
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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.
How to Implement AI-based Assistants in B2B Sales
You are considering implementing AI-based predictive analytics in your sales organisation. Are you convinced that this type of technology will give you a competitive advantage?
Then it is good to know what steps and what decisions you will have to make if you want to use an AI-based assistant in sales. AI enables you to make data-based decisions in sales. At the same time, AI-based assistants in sales do not replace sales staff. Instead, this type of technology supports and enhances the skills and capabilities of your team.