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 main tasks in B2B controlling. Some B2B companies waste valuable resources on forecasting processes, which are not used as they should be.
If you have landed in this article, you have already realised the benefits of successfully deployed sales forecasts. Feel free to check out this article if you need to be made aware of its benefits.
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Implementation of AI: Obstacles and Recommendations
Studies paint a picture of how things are going with the implementation of AI in companies. Obstacles are often a need for more human resources and a lack of support from management.
Artificial intelligence (AI) is becoming increasingly present in our (professional) everyday life. Who would have thought 20 years ago that there would one day be software to help those responsible for sales make statements about events likely to occur?
B2B Wholesale & Distribution: Challenges and Triumphs of Industrial Wholesale Companies Facing Insolvency in Germany
Insolvency? A debtor that cannot pay its debts and liabilities to creditors. No cash, no business.
In Germany, specialist wholesalers and industrial distributors who can no longer meet their payment obligations due to current or foreseeable overindebtedness must, by law, file for insolvency protection. Forget your revenue, your brand, your years in the market. If you will not be able to meet your obligations, insolvency is cast.
The Statistisches Bundesamt counted 34,000 fewer wholesalers in the past ten years. Additionally, we’re seeing an increase in insolvencies in Germany’s industrial wholesale and retail segment, with several high-profile companies filing for bankruptcy. It’s essential to understand the significance of this trend and take necessary actions to address the issue.
Why AI-based B2B Sales Forecasting is Important and Still Fails
Do you want to realize your potential in B2B sales and be more successful than the competition? Accurate AI-based b2b sales forecasting is an insider's tip - right?
To help you understand what you should know primarily about b2b sales forecasting, I will quote Editor-in-Chief Michael Gilliland, who has published several articles in "The International Journal of Applied Forecasting."
"Our forecasts are never as accurate as we would like them to be or as they should be. The result is a great urge to throw money at the problem in the hope that the problem will go away. There are many consultants and software vendors out there who will scoop up the money in exchange for promises to improve forecast quality, but those promises still need to be fulfilled. Many organizations, perhaps including yours, have spent thousands or even millions of dollars on the forecasting problem, only to end up back with the same lousy forecast."
Sounds very motivating. The quote does not mean to be an introduction to an anti-forecast article, but it reflects the reality in many companies.
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.
Generate Extra Sales With Cross-Selling and Artificial Intelligence.
Qymatix Predictive Sales Software leverages customer data to make product recommendations that maximize Cross-selling conversion rates.
The Ethics of Artificial Intelligence: Why AI Needs an Ethical Basis | Part 2
The Ethics of Artificial Intelligence: Part 2 of 2: an in-depth plea for an ethical basis in the field of AI by our Qymatix guest author David Wolf.
If you want to read Part 1 first, click here.
Ethics in Conversational AI: What should a bot do, and what should it not do?
Artificial intelligence is like other things in life: just because you can do something doesn't mean you should. One example of this is conversational AI and, in particular, chatbots. Chatbots can be helpful in marketing, service and support. For example, these digital helpers automate a website's interaction with visitors to create an optimal user experience and quickly and efficiently handle customer inquiries even when there are no longer any flesh-and-blood employees sitting in front of the computer. But: Who pays attention to ethical aspects when developing chatbots?
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The Ethics of Artificial Intelligence: Why AI Needs an Ethical Basis | Part 1
The Ethics of Artificial Intelligence: Part 1 of 2: a very well-researched and in-depth article by our Qymatix guest author David Wolf.
Whether in production, marketing, sales or logistics - artificial intelligence optimizes processes and takes over routine tasks. People also hope for better, i.e. more objective, decisions from AI.
That is where it gets tricky. How can machines "decide" objectively if those who develop the algorithms cannot? A plea for the ethical evaluation of AI based on its respective impact on society.
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Classifying Customers in B2B Sales: ABC Analysis and Then?
Joachim Meyn has many years of experience in B2B sales and customer management. In this article, he shares his expertise on "modern customer classification".
Classifying customers and potential customers is always a topic for heated discussions. Mostly, there is an agreement that sales teams can only look after some customers and potential customers with the same intensity.
To achieve the best possible results, it is, therefore, necessary to focus accordingly, i.e., to classify customers and potential customers, in short, to be selective.
The best-known form of classification, which has been tried and tested for decades, is the division of customers into A, B or C customers.
Three B2B Sales and Marketing Must-Have Software Tools for an Optimal Sales Funnel
Navigating the technology jungle: Three B2B sales & marketing must-have software tools for a secure future.
There is a reason for the term "technology jungle". As a B2B company, it is often difficult to decide which tools for marketing and sales it should include in the software portfolio.
Artificial intelligence, in particular, offers new opportunities to harness the company's data. Many medium-sized B2B companies, such as wholesalers or manufacturers, have recognized this problem
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