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Predictive sales analytics tools involve using big data about past events and current circumstances to predict what will happen in the future. In this type of data mining, algorithms identify trends and patterns across data sets to calculate future probabilities. Predictive analytics has a number of business applications, including the optimization of sales and marketing. It is a new software category, so space is not yet clearly or consistently defined. This will change as adoption increases and the technology becomes more refined. Predictive analytics is used in pharmaceuticals, capacity planning, actuarial science, marketing, financial services, insurance, telecommunications, retail, travel, healthcare, child protection, and more other fields.
Features:-
- Relevant and better-timed messaging
- Credit risk assessment
- Fraud detection
Benefits:-
- Better alignment of marketing and sales teams.
- Increased efficiency and productivity, since marketers and salespeople, have a better idea of where and how to focus their energy.
- More accurate sales forecasts, meaning a better sense of what to expect in terms of bookings and revenue.