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Sales Analytics, Sales Data Analysis

Tag: Sales analytics

salesforce analytics

Quantzig’s Salesforce Analytics Solutions Helped a Leading Manufacturing Company to Improve Operational Efficiency and Boost Sales by 53%

The client is a leading manufacturing company based out of Canada. The client is known for developing materials used in several smart wearables and biomedical devices.

With the advent of new technology and lean manufacturing processes, the manufacturing industry is experiencing a resurrection of sorts. Rapidly changing market demands, aggravating competition, the need for skilled labor and immense pressure to reduce costs are some of the major challenges facing manufacturing companies. Today sales teams across industries face stiff competition over quality and price all over the world. The average consumer’s demand for better-engineered and well-designed products are high, in spite of being on a slightly expensive side. Therefore, manufacturing companies must deploy efficient sales processes to deal with these challenges upfront while managing sales processes and data.

Quantzig’s salesforce analytics experts can help you improve sales force effectiveness by designing performance metrics and reward systems to improve customer experience. Get in touch with them right away.

Business Challenge

The client, a leading manufacturing company, wanted to deliver high quality, innovate and reliable products. They were looking to leverage an analytical approach to reduce their operational costs and improve productivity. This is when they approached Quantzig to leverage its expertise in salesforce analytics solutions to enhance their data management approach to facilitate quick access to all the sales data.

Major Challenges Faced by The Manufacturing Company

Problem Statement 1:

The client failed to keep track of consumer behavior and usage patterns due to the lack of visibility into their sales processes.

Problem Statement 2:

The client was finding it difficult to channelize their sales data and understand their sales performance due to which they were facing a significant decline in their productivity. 

Problem Statement 3:

The client was looking to leverage an advanced salesforce analytics solution that could help them optimize their data management system and extract valuable insights.

Leveraging our salesforce analytics solutions can help you optimize your sales process to maximum customer value and sales performance. Request FREE proposal to gain in-depth insights into our portfolio of salesforce analytics solutions.

Solution Offered and Value Delivered

The salesforce analytics experts at Quantzig adopted a three-phased holistic approach to help the manufacturing client tackle their core business challenges. 

Phase 1:

The initial phase of this salesforce analytics engagement revolved around leveraging data mining techniques to extract maximum insights from consumer data. This helped the client to gain a comprehensive view of their customers’ buying behavior and response at every touchpoint.

Phase 2:

The second phase of the salesforce analytics engagement focused on the detailed analysis of the client’s sales data. This helped the client to identify different sales patterns and determine factors affecting sales such as current market trends and customer interests.

Phase 3:

The third and final phase of the salesforce analytics engagement revolved around developing a customized analytics dashboard to help the client understand and analyze their sales data efficiently in real-time.

The roadmap offered by the salesforce analytics experts helped the client to improve productivity, per capita sales volume and boost sales by 53%. Also, with the help of customized salesforce analytics dashboard, the client was able to chart progress rates of their salesforce, comprehend sales metrics, and develop visually rich reports to fuel their salesforce analytics strategy.

Quantzig’s salesforce analytics solutions help companies in the manufacturing industry to assess and redesign their sales strategy to boost sales. Request a FREE demo to know more.

Benefits of Salesforce Analytics

BENEFITS OF SALESFORCE ANALYTICS

Why Businesses Choose Quantzig’s Salesforce Analytics Solutions?

Quantzig’s salesforce analytics solutions help businesses to translate data into actionable insights. Also, our analytics experts take into account several practicalities along with timing and budgetary constraints of players across different sectors. Additionally, Quantzig’s salesforce analytics solutions include the use of data integration methods, transformational tools, and best-in-class data modeling and data mining techniques to identify key sales metrics that would help improve the organization’s overall sales performance.

To learn more about how our analytics solutions can help your manufacturing business, request more information below.

sales analysis and forecasting

Sales Analysis and Forecasting Engagement Helped a Swedish Food Retailer to Boost Its Quarterly Sales by 47%- a Quantzig Success Story

Food Retail Industry Overview

Owing to the rapid pace of technological advancements and the ongoing digital shift, the food retail industry is witnessing a phase of tremendous disruption. To thrive in this complex business scenario, players in the food retail industry need specific analytics tools at their disposal to keep a tab on their sales performance and cater to the dynamic shifts in consumer needs and preferences. Sales analytics solution such as sales analysis and forecasting can empower retail businesses to gain relevant insights into sales performance and profitability. Also, it can help retailers to understand in-depth the performance of their sales teams and marketing initiatives along with the effectiveness of their sales channels.

At Quantzig, we understand the need to deploy robust sales analysis and forecasting solutions to tackle the challenges that arise in today’s complex retail business landscapes. Our customizable sales analytics solutions have helped several players across industries. This success story is a classic example of our sales analytics capabilities.

Quantzig’s sales analytics experts help companies to build a unified view of sales data using a sales analytics dashboard to arrive at the right sales decision. Get in touch with them right away.

The client is a well-known packaged foods retailer having its operation spread across Stockholm and Gothenburg. The client approached Quantzig to leverage its expertise in offering advanced sales analytics solutions that would help them improve the accuracy of their sales analysis and forecasting methods. Also, the client wanted to improve the effectiveness of their marketing campaigns and optimize their store layout to boost and profitability across their business units.

Business Challenge

Problem Statement 1:

Due to the lack of a proper tracking mechanism, the client was finding it difficult to track their buying cycles. As a result, they were not able to align their marketing strategy with the sales cycles. Hence, they wanted to leverage sales analysis and forecasting solution to formulate an effective business model and monitor their sales performance.

Problem Statement 2:

The second challenge that the client faced revolved around those arising due to inaccurate data analysis techniques. Hence, they wanted to use machine learning algorithms to maximize the value of their sales data and draw useful insights from sales analytics dashboard in real-time.

Problem Statement 3:

The third challenge of the client revolved around analyzing historical sales data to identify relationships between products and customers. This roadblock prevented them from creating products and pricing models to generate new revenue.

Our portfolio of sales analytics solutions enables organizations to leverage sales data to analyze win/loss scenarios and optimize the sales cycle. Request a FREE proposal to gain in-depth insights.

Solutions Offered and Value Delivered

The client approached Quantzig to leverage its expertise in offering sales analytics solutions to help them improve the accuracy of their sales analysis and forecasting methods.

Phase 1:

The initial phase of the sales analysis and forecasting engagement revolved around a detailed analysis of the client’s sales data to help them track their sales performance in real-time.

Phase 2:

The second phase of this sales analysis and forecasting engagement involved the creation of ETL processes for the initial and incremental data loads along with a scalable BI architecture to help the client maximize their sales forecast accuracy for entire products’ lifecycle and modernize their sales processes.

Phase 3:

In the third and the final phase of the sales analysis and forecasting engagement, the sales analytics experts focused on building sales analytics dashboards that visualized predicted results and could compare present sales data with previous years’ data to offer valuable insights to the client that helped them improve their marketing strategies.

Right from sales forecasting to operational planning and sales force effectiveness, we’ve got you covered with our comprehensive portfolio of sales analytics solutions. Request a FREE demo to learn more.

Key Results:

  • Improved sales data analysis and forecasting significantly
  • Reduced the error percentage in forecast by 53%
  • Increased the quarterly sales by 47%

 

sales analysis and forecasting

How Can Sales Data Analysis Boost Your Company’s Growth?

Sales data is one of the valuable assets any company has as it provides useful insights on  the internal business functions. Companies use their sales data to make informed decisions like when to raise or lower prices of their products or services. These decisions should not be driven by “gut feeling” rather companies should perform detailed sales data analysis to identify trends and patterns in their sales data. This can, further, help in determining both opportunities and potential threats. Also, with the help of sales data analysis, businesses can track the performance of individual product or service in real-time. Such insights can help businesses to make timely decisions in case of decrease or increase in sales of any particular product or service. Sales data analysis can also help companies to determine if they are meeting their sales goals by providing them with an easy, measurable way to track their performance. In this article, our sales analytics experts have highlighted a few important ways in which sales data analysis can help businesses to improve revenue growth and profitability.

Our sales analytics experts help leading companies to generate accurate buyer personas for targeted marketing in real-time with the help of predictive models. Get in touch with them for deeper insights.

SALES ANALYTICSHow to use sales data to boost revenue growth?

Centralized database to view data

To utilize sales data optimally, businesses need to have a unified view of sales data that includes all orders and inventory by product and category. If there is a lack of centralized location of such data, businesses might fail at defining the impact of one of their sales channels or product lines on their entire business. Also, a unified location of data allows companies to perform proper sales data analysis that can further facilitate accurate and timely decisions like when to move inventory from one location to another or markdown products.

Our sales analytics solutions help organizations to identify new opportunities for revenue generation and reduce operational costs. Request a FREE proposal to gain in-depth insights into our portfolio of sales analytics solutions.

Utilize real-time sales updates

To uncover potential opportunities and threats, businesses need to track their sales every day even down to the minute. This is the reason why sales data needs to be updated in real-time. Sales data analysis in real-time can help businesses to analyze how price changes can impact  the customer’s decision. Data visualization tools like sales dashboards can help in analyzing information quickly and respond to changing sales trends in real-time.

Request a FREE demo below to know how our sales analytics solutions can help you improve your sales efficiencies and revenue margins.

Drill down sales data by location, product type or channel

To derive the desired result out of sales data, businesses must gauge their sales data by specific locations, product lines, or sales channels. Such granular insights can help businesses to understand what’s contributing the most to their revenue growth or causing the loss of revenue. Also, this helps to understand more precisely every aspect of sales and analyze sales trends over a period. Furthermore, this can aid in managing inventory, marketing, and finance functions efficiently.

To learn about how sales data analysis can help you improve sales force transparency, request for more information below.

predictive sales analytics

4 Ways Predictive Sales Analytics Can Help Businesses to Boost Profitability

With the increasing pool of business data, there is a need for more effective, efficient business processes. The flood of big data into business has uncovered new ways for sales and marketing teams to collaborate and add value to each other’s work. Predictive sales analytics helps businesses across industries to forecast and develop campaign designs intended to generate higher-quality leads. Sales analytics has helped in identifying new avenues for marketing to derive desired results from sales efforts.

Predictive sales analytics offers detailed insights into the salesforce of an organization. Not only does it provide insights into which prospects to target, but it can also help sales teams to determine which marketing campaigns will be most successful based on buyers’ personas. In this article, our analytics experts have highlighted important ways in which predictive sales analytics can help businesses boost profitability and uncover new sales opportunities.

Our experts can help you transform your sales forecasting processes with the help of advanced predictive analytics techniques. Get in touch with them now.

Benefits of Predictive Sales Analytics

Streamlined lead scoring

Predictive sales analytics can help in determining lead scoring. Marketers can use predictive analytics to accurately forecast the potential customer’s likelihood to convert over time based on their previous activity and buying behavior. Predictive analytics tools can help businesses to measure customer’s demographic and behavioral data and find out whether or not the lead truly need their product or service. Also, it can help in analyzing the timeline of the buyer’s journey and the way they respond to particular offerings.

Quantzig’s predictive sales analytics solutions help businesses to maximize their customer lifetime value. Request a FREE proposal to gain in-depth insights into our portfolio of analytics solutions.

Faster sales cycle

Predictive sales analytics can help in triggering the right content based on a lead’s behavioral and psychological data. This can further help in answering questions, managing objections, and moving the lead through the sales process more efficiently. Predictive analytics tools can help sales teams to move the lead down the sales funnel faster by analyzing their content consumption and behavior at each touchpoint throughout the journey.

We help companies to measure and reduce customer churn and attrition with our unique approach to sales data analysis. Request a FREE demo to know more.

Better upselling opportunities

Predictive sales analytics can help marketers and account managers to maximize their existing and potential customer’s value. With the help of sales data analysis, marketers can easily understand and analyze the factors responsible for buying decisions of a particular lead. This can also help in improving upselling opportunities resulting in better business outcomes.

Improved customer retention capability

Predictive sales analytics can help businesses to track the activity of customers who have opted out of business. This insight can help marketers to forecast potential churn risks. Also, predictive analytics platforms can help sales teams across industries to understand factors of potential churn such as inactivity, substandard performance metrics, or even mentions on social media. This can, further, help in taking immediate action against the same.

To learn more about the benefits of predictive sales analytics, request for more information below.

sales analysis and forecasting

3 Essential Sales Forecasting Methods That Can Accelerate Your Sales Process

Sales forecasting is one of the important processes that help businesses in better decision making and in predicting long term and short-term business performances. Sales forecasting affects several business areas such as sales operations, marketing strategies and budget allocations. But many sales leaders struggle when it comes to the implementation of effective sales techniques. Inaccurate sales forecasting fails to guide business pipeline management and has dire consequences on different levels of business operations. Overestimating sales may lead to overspend and underestimating sales might result in inefficient order management. Therefore, it is crucial for businesses to get their sales forecasting techniques correct. Here we have discussed in detail some of the essential sales forecasting methods that can help companies accelerate their sales processes.

Sales forecasting offers actionable insights into how a company should manage its workforce and cash flows. Want to know how? Get in touch with our experts right away.

Sales Forecasting Methods

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Technique #1: Opportunity forecasting

This sales forecasting method helps companies to estimate the probabilities of a deal getting close to conversion. Opportunity forecasting can help best when a company is trying to gain an objective understanding of its pipeline stages. Also, this sales forecasting method is helpful when you want to gauge your sales team performance and analyze areas where improvement is needed to move a prospect down the pipeline. To adopt this sales forecasting technique, it is important for companies to understand and analyze their sales history. Understanding the rates of success at every stage of the sales cycle is required to derive an accurate estimate of future results.

Technique #2: Length of the sales cycle

This approach of sales forecasting helps to make assessments based on the age of the deal rather than analyzing success rates at every stage It is very helpful in predicting when a deal is likely to close. Companies can use this technique to learn in detail about different types of deals in their sales pipeline. The length of the sales cycle is not strictly tied to defined categories. So, it can help in creating algorithms based on different types of deals efficiently. Additionally, it can help to estimate numbers for the average repeat customers or leads.

Our sales analytics solutions help companies identify new opportunities for revenue generation and improve sales forecast. Request a FREE proposal to know more.

Technique #3: Regression analysis

Regression analysis is one of the most preferred and smart choices for sales forecasting. This technique can help companies to perform in-depth quantitative analysis of factors that might be affecting their sales processes. This method can lead to success only if you have the necessary capabilities and domain knowledge to understand the factors that impact the sales performance of your company.

Request a FREE demo below to know how our customized supply chain analytics solutions can help you forecast sales volume and manage inventory.

IR19

Sharpen Your Company’s Salesforce Effectiveness in 4 Simple Ways

The gaps in understanding what makes salesforce effectiveness successful, researchers are now increasingly trying to quantify the factors that go into turning a motivated sales team into a task force that is capable of making an effective impact in their market. As a matter of fact, it might prove to be difficult for any new business to hit the ground running. Sales success is largely dependent on continual improvement. Conducting honest program evaluations, targeting specific strategy areas to augment, developing specific improvement programs, and tracking progress in following through with these programs will create a cycle that will consequently lead to a constantly improving sales team capable of finding success in today’s dynamic market. Here are some vital strategies to turbocharge your companies’ salesforce effectiveness.

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Ways to improve salesforce effectiveness

Clearly define the expected performance

When companies clearly define performance to their sales teams, it helps them understand which products and customer segments create the most value. Having a clear idea about which products and customers create the most value helps businesses identify “where” to direct the efforts of the sales team and how to measure their performance, thereby enhancing the salesforce effectiveness.

IR40

Top 5 Marketing and Sales Analytics that Managers Must Consider

Market size analytics

Having a fair idea about the market size and potential is integral to business. It involves identifying how large the market is for your products and services, and whether there is sufficient growth potential. The size of the market is measured in terms of volume (how many units sold), value (money spent in that market) or frequency (how often a product or service is sold). Data can be collected from government data sources, trade association data, financial data from competitors, and customer surveys. Using the right sales analytics tools help businesses estimate their market size accurately and the sales volume generated from this market.Contact US

Unmet needs analytics

The primary aim of any business is to effectively meet the needs of their target customers. Using sales analytic metrics helps businesses to uncover if there are any unmet needs around your product or service or within your market which you could meet to increase customer satisfaction and revenue. Using various sales analytics tools and other sources including product reviews, qualitative surveys, focus groups,  and interviews, companies can easily identify the unmet needs of their customers.

IR36

3 Benefits of a Sales Analysis Report That Every Sales Manager Should Know

Importance of Sales Analysis

How big a role does sales play in your present company? Most think of upbeat telephonic conversations, long lunches, and game-time when it comes to sales. But with the rise of analytics, the notion of sales analysis is witnessing a paradigm shift. In fact, studies have shown that the companies who invest in sales analysis report can boost their returns by more than 15-20%.

Unfortunately, the sales team in any company will always have too much data to analyze and they often struggle when it comes to developing strategies to boost sales and profits. It is in this context that the importance of a sales analysis report can be realized.

A sales analysis report empowers businesses to analyze sales by breaking it into comprehensible piecesContact US to examine improvement areas. Get in touch with our experts to improve your capability to do so.

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demand and capacity planning

5 Metrics That Will Help You Pump-up Your Sales Analytics

Marketing and sales analytics play a major role in unlocking commercially relevant insights, improve brand perception, and increase revenue and profitability for your company. That’s not all, having the right analytics and sales metric in place will also help you uncover new markets, new audience niches, and areas of development for the future. So, what exactly is sales analytics? In simple terms, sales analytics is the practice of generating insights from sales data, trends, and sales metrics to set targets and forecast future sales performance. In today’s fast-paced environment, the sales team has a wide range of activities to operate and focus on. A well-defined sales analytics strategy provides your team with focus and clarity. Monitoring sales analytics in the form of KPI metrics helps increase your performance, optimize sales activities, and improve accountability. In order to establish a successful analytics program, companies must decide which sales metrics will inspire action and equip tRequest Solution Demoheir team with focus. Here are some of the top sales metrics that you must consider tracking:

Sell through rate

Sell through rate measures the number of goods that have been sold in a month against the amount of inventory that has been shipped to you by the manufacturer. This is an important retail sales metrics as it is a great way to determine the efficiency of your supply chain. Companies must always ensure that they have a high sell-through rate, and failing to do that could cost them more for the shelf-space occupied by the products. Keeping a track of the sell-through metrics is an important way for companies to determine which products are fast-movers and which ones are unpopular and need to be revamped or discarded.

Cannibalization rate

This sales metrics measures the impact of a new product on the sales revenue of existing products. If you undertake a keen observation of your sales analytics, it often shows that as your business releases new products, attention and demand for existing products tend to decrease. One of the main aims of most organizations is to constantly innovate themselves and provide new offerings to their customers. However, new launches aren’t always risk-free. This can be particularly in cases where new and existing products have different, or even competing value propositions.

Sales target

Sales target is one of the key metrics used in sales analytics. This KPI measures current sales revenue and compares that to a target or past performance. Measuring sales performance against the targets is a core tenet of any sales management strategy and is instrumental in creating a data-driven culture. Companies must ensure that the sales target is visible to the entire team. This will help the team easily identify gaps in the current performance compared to the target.

Lead conversion rate

This metric measures the efficiency of your sales team at converting leads into new customers. Lead conversion metrics play a vital role in aligning the sales and marketing teams. This is because both these teams will use these metrics to determine the quality of the leads. The process for generating leads is the responsibility of the marketing team. Once marketing qualifies those leads, it’s the responsibility of sales to convert those leads into paying customers.

Quote to close

Quote to close is an excellent metric for sales analytics as it depicts how effective your team is at closing a deal. This sales metrics measures the number of prospects engaged by your sales team compared to the number of deals closed. This conversion ratio determines the effectiveness of the company’s sales funnel.


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