Think of Data Science as a compass for sales. It can provide insight into which direction points to success. Traditionally, sales didn’t have a lot of data to support decision-making or analysis. Instinct ruled. Today, we have the ability to change that. Most organizations gather tremendous quantities of data in their Salesforce.com system alone. Analyzing that information and combining it with other customer data can provide insights that answer the question, “What should I do?”
What Insight does Data Science Provide?
Data Science can be harnessed to answer specific questions. Underlying, “What should I do,” are other questions that provide guidance for action. These include:
- What factors influence my win rate?
- How does response time impact wins?
- What is the ROI from different lead sources?
- Which sales reps are most productive and why?
- What is the optimal number of leads per sales rep?
- Which of my leads should I focus on first?
- Which products yield the best return?
- How can I improve customer retention?
- How can I improve forecast accuracy?
- How many offers will optimize the likelihood of a sale?
This is a small sample of insights that Data Science can deliver. Many times the answers lie in data you already have and can be found inside systems such as Salesforce.com and order management. Seahorce has expertise in analyzing data and also in identifying and extracting data from relevant sources.
Seahorce helped one customer identify a single factor that caused a 50% drop in win rate simply based on how they prioritized lead follow-up. With this insight, the company was able to create a dashboard to provide visibility into when the situation arose so the organization could act quickly to prevent it. It also provided insight into the optimal lead distribution approach among its sales team.
Can Data Science Help Me?
Most sales organizations have more data than they realize. When analyzed properly, that data can provide insight into what actions yield sales growth, increased sales force productivity and sales funnel predictability. Seahorce helps companies turn data into sales growth.
To learn more about how Data Science can drive growth for your organization, fill out the form to the right.