Use Case
Backing Up Sales Management with Data Science
Challenges of the past year have taught many businesses the value to be had visualizing the potential impact of our choices.
Remind us to be prepared
And while we certainly can’t predict the unexpected, such as a catastrophic pandemic, we can make more calculated, data-driven decisions when we have the proper tools in place.
The Challenge : Forecasting the Future with Today’s Trends
Business leaders often believe they are designing informed campaigns based on their understanding of their target market, internal finances, and team objectives.
But many of these so-called informed choices are based on flimsy, outdated data that lacks the power to present figures in the context of past and potential growth. What’s more, much of this information is also opinion based and inconsistent across stakeholders from different teams who have different priorities and perspectives.
Executives are left to grapple with the discrepancies between teams, trends, and today’s obstacles:
Solve for future growth
Create accurate budgets
Calculate sales yields
Design a path forward
Allocate appropriate resources
The only option is to choose what seems best at the moment and wait months to see how that choice pans out.
In the end, the numbers simply do not add up. The bandwidth to even consider multiple paths is out of the question, and a less-than-stellar choice can mean deeply detrimental losses of time and money.
The Solution : Predictive Analytics and Modeling with IDA
Many organizations shy away from predictive analytics because of the cost and sheer amount of time it can take to customize worthwhile reports. And even then, determining the ROI on these systems is tough.
IDA is different. Intuitive Data Analytics, or IDA, demonstrates the potential visual impact of decisions by unlocking modeling such as:
Linear regression
Polynomial linear regression
Time series regression
Decision tree
Random forest
What does this mean for businesses? Leaders can actually see the impact of potential decisions, spotting more effective scenarios from among a number of options.By processing real-time data, IDA takes in all of the information from yesterday and today to help you identify the best path for your tomorrow.
Beyond graphics and stats, IDA stories out what a decrease in sales today means for the company six months from now. Think you know how to fix a downtrend, share your idea within IDA, and the system will show the true potential of that decision from any number of angles.
IDA takes the guesswork out of decision making. Factoring in the data from various systems and stakeholders, IDA produces unbiased projections for your bottom line.
Right down to a single SKU’s performance or broader team’s output, IDA factors the impact of disruptive events and models the potential outcomes so you can choose the best promotion, campaign, or response to your specific situation. From a downturn in sales to an underperforming product, IDA gives you a data-driven space to envision the consequences of your decisions.
The result? Faster, easier insights into business performance and interconnectivity that fosters growth and more calculated decision making.