Finding Sales Growth Now!

54341841 03fd 41cc b3b6 fc2fd6c2858f
16/05/2018

Predictable and growing revenue streams are desired by stakeholders and shareholders alike. Along the way, market conditions, competitors, and other factors can get in the way.

The digital age seems to be all about the data. Some argue that the humankind collected and produced more data in the past few years, then it did throughout the entire previous human history.

Before falling into the trap of gathering more and more raw data, it is important to remember that it is not only about the amount of data that is gathered, it’s the data analytics that puts the pieces of information into the use of growing the revenues.

With the advanced analytics and machine learning, you can predict outcomes and automatically trigger the events.

Every company has data that they collect whether through a CRM or other method. The high-performance companies and teams that leverage that data will stay on a growth trajectory by making informed decisions and making course corrections along the way.

The attached article by McKinsey&Company highlights the major role data analytics can play in driving sustainable growth. Most companies today possess untapped data that can be turned into actionable information.

McKinsey says that gathering this existing data, scrubbing it and making sure everyone from the C-Level to the sales reps have access to it, can generate new revenue quickly without a lot of initial investment.

Every CRM has, for the most part, the beginnings of a treasure trove of customer data. Every company with the will can harness this data to provide fuel for the growth engine.

Robust commercial analytics capabilities can help the sales leaders gain a 360-degree view of both customers, their business, and their competitors, leading to better decisions and the revenue growth.

You can read the full article on this link.

And while on the subject of data collection and analytics, you can also check how to prepare your business for GDPR on this link.