Avoiding guesswork – use predictive analytic from your CRM
CRMs were originally designed to support management when making important decisions. Many that have been working with traditional CRMs have experienced quite the opposite results. When CRMs are not regularly updated with accurate data, no one can blame the sales director for not having trust in the CRM data.
From what I’ve seen during my days working in sales, spread sheets has been the sales directors’ best friend yet also their sworn enemy.
It is time consuming yet absolutely necessary for the sales director to be generating his or her own reports from copy pasting in Excel.
And not to mentioned all the time spent following up on sales reps’ activities to see whether the reports pulled from Excel are any useful at all.
Don’t rely on guesswork
No one wants to rely on guesswork to support important decisions, and that’s probably even truer for any sales director out there. HOWEVER, this is sadly enough what most sales directors experience.
Due to untrustworthy CRM data best judgement is used for decision support. To avoid guesswork like this, there’s really only one solid way to go and it’s called PBI. PBI is a hot topic right now and it stands for Predictive Business Intelligence.
Traditional CRMs have barely seen the birth of this yet however, modern CRMs are all about it. The best way to look ahead and feel confident about your strategic plans is probably to rely more on PBI.
Focus more on how to bridge the GAP
Analytics have traditionally been employed as looking to the past to gain an assessment of business performance. Predictions by Gartner indicated that the big future of Business Intelligence would be a scenario where more emphasis is shown to simulation and extrapolation.
Thus, predictive decision support was said to be the future, and now, well now we’re there. Basically, the core of Predictive Analytic is to fill predictive gaps and insights that query and reporting tools often fail to acknowledge.
The most prominent benefits of PBI is simplify better decision-making, solve business problems and identify opportunities by providing better forecasts, causal understanding, pattern identification, process and resource optimization, and by assisting with the scenario planning process.
Even today much emphasis is laid on measuring the past. Just look at your last staff meeting with the sales reps, focus were likely to be spent more on the previous week than the one ahead.
Gartner surveys show that only a few percent utilizes predictive analytics to support their decision-making. This is however changing, as organizations express an interest in increasing their use of advanced style predictive analytics.
Going through with PBI can help organizations anticipate such things as what is required to reach a sales target, what to focus on, what customers should be prioritized and how to behave.
Using predictive and intelligent analytics on top of sales data is hardly to rely on guesswork, rather increased confidence in looking ahead and feeling sure of the quality and success rate of any PBI generated action plan.
Predictive analytic in CRM
Let’s break it down and we’ll tell you how PBI works in Salesbox CRM just to give you an example. Salesbox CRM utilizes Predictive Analytic to get to know the users better; learn how they behave and perform so that the CRM can adapt to the individual user.
Once the software knows how the user behaves and performs, the CRM can start using that knowledge to predict what it takes to reach the targets, what the user should focus on and prioritize, etc.
The CRM can also start to remind and ask questions after phone calls, appointments etc. to let all colleagues get instant access to the same knowledge as the individual user. By utilizing predictive business intelligence and mobile collaboration the organizations using Salesbox CRM increase their chances to outperform their competitors.
Relying on BI means to rely on data to support decisions regarding your business and the surroundings affected by your business. Predictive, well, that means this data showing you how to best predict the future.
In the meantime a useful predictive analytic tools such as Salesbox CRM can help you to prioritize your daily tasks in order to get more effective, if your are interested please check this article.