Sales Intelligence collects and analyzes customer data to increase sales department efficiency and productivity. Real-time data is used to identify cross-sell and upsell opportunities, reactivate existing channels, and discover new ones. It is part of integrated business planning and can be used to predict future operating environments.
Sales Intelligence is a strategic and systematic approach that collects and uses customer metrics to formulate real-time data analysis on historical and current sales activity. The emphasis is not on directly increasing sales, but on increasing the overall efficiency and productivity of the sales department. Customer and prospect data is collected at numerous touchpoints and stored in a database. A touchpoint occurs when customers fall within the sphere of a brand. This data can be extensively analyzed and correlated to previous and current sales campaigns to reveal insights into both demographic and individual buying behaviors.
A sales manager can use the data collected to connect historical customer behavior with products or services customers purchase. The collected information is then intensively analyzed, usually on an ongoing basis. The customer behavior patterns thus revealed are used to increase the productivity of the sales department. For example, the sales information collected might reveal that customers who purchased product A are more likely to purchase product B within a six-month period. Prescreening potential sales leads through real-time data increases efficiency.
Sales personnel can also generate lists of customers whose buying activity has declined within a certain historical time frame. This information would then be passed on to sales department personnel, who would then question the customer via a phone call, email or survey. By increasing the opportunities for contact with previous customers, you can reactivate existing channels. A sales channel is a segment of prospects or customers who share certain demographic or historical behaviors. At the same time, new channels can be discovered through an analysis of past sales, which reveals links within the data that could point to new perspectives.
Real-time streaming data can be used in sales intelligence. Using real-time data allows sales people to quickly identify and respond to emerging cross-sell or upsell opportunities. These automated sales processes in sales intelligence are also used in customer relationship management and channel management.
Business information is an aspect of integrated business planning. Other collections of business intelligence cover data pertinent to market analysis, sourcing behaviors, macroeconomic conditions that would affect consumption patterns, competitive analysis, and many other areas. Through data analytics, a business is in a better position to predict the future operating environment and then respond quickly to emerging opportunities and threats. An example of how data analytics might be used would be the decision to rip a failed advertising campaign, based on historical sales data.
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