Why do companies fail to harvest the sales potential found in their existing data sources?
”How could I proactively approach my customers before the RFQ lands on my table?”
”Our spare parts sales budget is based on guesstimates, should it not be based on facts?”
”Why is my service agreement customer not buying spare parts as planned?”
”What are the differences in buying behavior in different countries or our customer segments?”
How can the above questions from sales be answered?
Understanding the data that you already have is the first step – and not only your but your whole organization’s available data; the facts. Second, combining and integrating the different existing data sources is a step that requires a lot of knowledge on your business data. Data sources usually include databases on installed base, SAP (or other ERP) data, historic sales data, and different types of data relating to service contracts and agreements.
There is a possibility to increase order intake by identifying areas of potential sales growth. In addition, analysis of existing data sources can provide useful information for proactive sales on the frontline. Finally, the reliability of your sales budgeting improves when it is based on facts, not estimates – not to mention guesstimates.
Eeva Vuorinen is the Head of Business Diagnostics at PBI Research Institute.