Blog

Data Science. Who knew it could increase sales?

05/20/14 by Craig

Data ScienceData Science often seems like some mythical craft that is used by Google, Amazon or Hedge Funds and is out of reach for mere mortals. At Seahorce, we bust that myth everyday. Data Science can be effectively leveraged by sales organizations to drive growth and increase performance. From win rates and pricing optimization to rep productivity and forecasting, data science can provide insight into the levers that drive growth.

Gathering Insight – data science can identify growth drivers

At Seahorce we work with sales organizations across three phases of technology enablement: insight, visibility and control. Many sales executives are familiar with dashboards that are designed to provide real-time visibility. Even more are experienced with salesforce automation software that helps provide controls and tools throughout the sales process. Until recently, few sales leaders had ready access to sales data. Without data, sales organizations were run by instinct. There was no other choice.

Today, the situation has changed. The use of automation tools such as Salesforce.com has changed the data equation for sales leaders. Sales data can now be harvested to provide greater insight into common questions. Have you ever wondered how to determine:

  • The optimal number of leads for each sales rep
  • How lead response time impacts win rate
  • What techniques from your top performers could be utilized by other staff

The questions go on and on. At Seahorce, we have answered these very questions for clients simply by reviewing their sales data. Data driven sales improvement is within your reach and you don’t have to wait for IT to provide you access to it.

How Data Science Provides Insight

There is a lot of talk about Big Data, but less discussion about what makes data sets accessible for business use. Data Science is a set of techniques for identifying key operational questions, determining the data sources required for analysis, accessing the data and then conducting analysis through a structured approach. Data Science is concerned with gathering data, analyzing and interpreting it correctly. Discerning between causation and correlation is as important as identifying trends and anomalies.

Seahorce makes these insights accessible for sales executives. We employ the rigor of data science to answer tough questions and overlay business experience to help you apply data-driven recommendations to day-to-day sales performance objectives. Our seven-step analytics process includes:

  1. Define the Objective
  2. Develop Analysis Framework
  3. Source and Integrate Data
  4. Refine the Objective
  5. Normalize the Data Sets
  6. Develop Visualization Framework
  7. Draw Conclusions and Deliver Insight

To learn more about how Data Science can help your sales organization drive growth, fill out the form below to speak with a Seahorce Data Scientist directly.