Category: Predictive Analytics

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AI SEASON SALE

With the holiday season just around the corner, shopping maneuvers are expected to ramp up to a different level altogether, and that is exactly what defines ‘Seasonal Sales’.

Business competition is far above the ground and the customer attention span is comparatively short these days. This fact directs the focus of business leaders on product messaging and offering, as the only route to rope in customers in bulk.

Since the end of the year is all about holidays and occasions, it is nothing less than a spazzed out moment for commerce sites and retailers with customers flocking in bulk, and making the most of this time becomes a priority from a sales point of view. Good news is with the introduction of Artificial Intelligence in Sales and Marketing, revamping the sales numbers is not difficult anymore, if not easy as a pie. 

Be it slicing the staggering costs of the company or aiming to shoot up the revenue collection, AI can definitely help you unravel productive schemes for your business and make sure that the festive season ends on a lucrative note for you, if not for all.

AI makes all the difference in sales

The nitty-gritty of a qualified sales professional sums up to the fact that he/she is required to be before a client without ticking them off, and it is quite difficult. 

So how to make such a calculated step and thrust the sales quote down the funnel to make the most of the festive season?

The answer is Artificial Intelligence in Salesforce. With the help of AI, salesforce can be automated and benefits like the crunching of a high volume of data, enabling the company to maintain better relations with prospects becomes an obvious fact.

Adding Artificial Intelligence in Sales and Marketing enables a company to get valuable data from huge volumes. Add to it, AI can process more data than any human can, and can tap into buyer’s preference and enlighten a business in precise ways.

AI can significantly boost your season sales

AI has crept into the human aspect of sales relationships, and that’s given. Since sales and Artificial Intelligence have joined hands to produce better results, data collection and evaluation is not a nightmare for analysts, anymore.

It is evident that a lot of data is available in the market, and that companies can build different micro-segments on the back of such information. With the introduction of Artificial Intelligence in the sales force, companies can now devise winning strategies riding on the back of such micro-segments.

Below, is the list of possibilities how AI can boost seasonal sales significantly for your business.

  1. Makes products and consumers analogous– A good marketer is always in search of customers for its product, however, customer data and product data often fail to match. Thanks to Artificial Intelligence in Sales and Marketing, high-quality product data and related aggregate customer data can be combined to create an effective and precise order for the company.
  2. Provides a consolidated user experience– Customers these days are not limited to any one channel when it comes to shopping-both online and offline purchase is on a high pedestal these days. Since customers have become way more smart compared to their previous track records, the interaction between different departments like marketing, customer service is evident. 

With the help of Artificial Intelligence in sales force, data sharing and internal coordination between different departments have become a piece of cake, offering a seamless user experience to all.

  • Helps to settle on the best performing ads- Thanks to AI, you can now figure out which particular advertisement has actually turned the tables for your business. By analyzing the pattern of such advertisements and inculcating such ads in your website, you can steer towards a successful voyage and open doors for fruitful business campaigns.
  •  Builds and strengthens brand image- It is no news that brand image is more than everything for a company. The trend today that speaks aloud is personalization- clients today tend to relate with brands that are tailored according to their needs. And this can become a no-brainer only with the help of Artificial Intelligence in sales and marketing that can comprehend customer micro-segments and establish a strong bond between the brand and customers.

AI is the route for successful season sales

Although Artificial Intelligence is not the solution for all the looming issues, but for seasonal sales during festive seasons, it does the trick. It not only guides retailers in their objective but also ensures customers leave behind a positive feedback.

It is no rocket science for seasoned sales professionals to understand the fact that sales is nothing but establishing trust and relationship with clients. This undeniable and verifiable fact is further supported by AI that offers consolidated data and useful information to meet with client requirements, and establish a bond between company and customers that is ‘unbreakable’. 

If you too wish to inculcate AI in your business and boost the sales performance during specific seasons, SPIN Strategy can help you to start off. 

Contact today!  https://www.spinanalyticsandstrategy.com/ 

The unremitting expansion of data with time has compelled businesses to place data at the very center of any strategic business decision to safeguard a bright lucrative future.

In a bid to stay ahead of the pack in the days to come, businesses are using Predictive Analytics to make use of unending growth opportunities.

Over time, Predictive Analytics has gained its glory, thanks to its multiple applications.

Time and again, the concept of Predictive Analytics (which is also called as Advanced Analytics) has been linked with one of the most popular trends-business intelligence.

Whether they are linked or not, is a different story altogether, but their motto is unanimous: provide benefit to the company and its clients.

So what is Predictive Analytics?

It refers to the effective amalgamation of ML, historical data along with AI to take the most feasible hunch about the business possibilities of the future.

The historical data collected is added in a mathematical model that gives assent to key patterns and trends in the data.

In the next step, the model is used for the current data to figure out what will happen in the future.

Here is the workflow of Predictive Analytics for a better understanding.

Access and explore data- Process the data-Develop Predictive models-Merge analytics with systems

Prescriptive Analytics – commonly used terms with Predictive Analytics

Companies that have effectively integrated Predictive Analytics tag Prescriptive Analytics as the next lucrative frontier to approach.

Questions may arise as to how both the terms are inter-linked.

The answer to this lies in the fact that while Predictive Analytics gives a vivid picture of the possible future.

While Prescriptive Analytics reels off how to respond in the best way possible, in tune with the prediction.

How Predictive Analytics exercises its duty?

  1. The first and foremost step of Predictive Analytics is to figure out what are the questions you wish to be answered, based on the past data.
  2. The second step includes figuring out if you have the right data to answer the questions you asked.
  3. The third step includes training your business system to learn everything from your data to forecast outcomes.
  4. Plan your modules
  5. Use your forecasts and insights in your line of business applications for priceless outcomes.

Does your business need Predictive Analytics?

Irrespective of the fact that there are numerous aspects in a business, that needs special attention, Predictive Analytics finds its fit in almost every bit of an organization.

Here are few pointers to start-off with:

  • Customer Relationship Management (CRM) – Predictive Analytics models can be applied to enterprise applications like CRM, to figure out proper messages to target the customers in the days to come. By predicting the next likely move of the customer, you can spend your messaging dollars effectively.
  • Marketing- Using Predictive Analytics it is possible to determine the preferences of the customers based on past data and previous history. This will help to predict the future course of action for the company to retain more customers and increase productivity tenfold.
  • Manage risks- Using Predictive Analytics effectively can help businesses to sketch a roadmap for the company. By predicting future outcomes and possibilities, Predictive Analytics can help organizations to cut down risks significantly.

Let’s start predicting

Companies that have deployed Predictive Analytics in their business operations have flourished beyond expectations, in comparison to the ones who still playing with the thought of it.

Comprehending customers better by tapping on their requirements, and customizing the content as per the needs does wonder for a business, and Predictive Analytics is the key to it.

Well-informed use of Predictive Analytics helps organizations to be aware of market forces and secure their dominance in today’s competitive world.

All in all, predicting the future outcomes guarantees one important fact- substantial gain for the business and its clients.

Still, think Predictive Analytics is a bit confusing for you? SPIN is here to clear all your doubts.