 |
How can machine learning and predictive analytics be used to grow sales?
Analytics have traditionally been used by commercial organizations to optimize sales operations, manage the performance of the sales organization and improve its effectiveness. The role of predictive analytics is to model the relationship between the concepts that the commercial organization is tasked with managing, e.g. customer demographics, products and their usage patterns, orders etc. and the desired operating and financial outcomes. For example, a common objective of predictive analytics in sales and marketing is to model and predict the optimal incentive offer for a given customer or prospect. The key value proposition from predictive analytics is the use of mathematical and statistical models on data to improve the accuracy and reliability of prediction of the indicators that are key to making informed and evidence-based business decisions.
|