Data Analytics in Sales

Sales Blog Post #5

                Most of you are probably familiar with the term, “data analytics”, as this term is extremely prevalent in the business industry today. However, you may ask yourself if data analytics has any applicability in the sales profession. If you answered yes, you would be correct. In an article published by Entrepreneur, Pavel Dmitriev discusses how data analytics is transforming sales from an art to a science. He begins the article by discussing how technology has continuously changed the way we work and operate for the better. He cites the examples of computers, robotics, and artificial intelligence as phenomena of this change. Dmitriev then makes the analogy that it is time for the sales profession to advance through the revolutionary technology of data analytics. He cites three reasons in support of this transition; namely automation of tasks, improving effectiveness, and the embracement of experimentation. Dmitriev quickly dismisses the idea that automation is a job-killer. He cites the statistic that “64% of sales reps’ time is focused on non-selling tasks”.  Essentially, an excessive amount of time spent performing tedious tasks that could be better utilized making new contacts or reaching out to prospective customers. The implementation of data analytics could significantly reduce time spent on non-productive tasks for the sales professionals.  Dmitriev then credits data analytics with the benefit of improving effectiveness. He cites that data science can improve effectiveness by “providing sales representatives with real time guidance and identifying coaching opportunities.” As example, data science provides the opportunity for sales professionals to deal with customer objections in a more timely and efficient manner by categorizing emails and developing templates. Lastly, Dmitriev addresses the benefit of embracing experimentation in sales. Typically, most companies have specific policies and practices when engaging with clients. However, the development of these practices tends to discount the use of data. Essentially, Dmitriev finds flaw with this practice as companies should always be tracking developing trends in the market place as a means to surpass competition and should adjust policy accordingly. In essence, Dmitriev’s discussion supports the use data analytics as a means to highlight trends and movement in the marketplace that could be otherwise overlooked. His argument has definite credence, however the art of the relational aspect of sales cannot be lost. Consequently, my personal opinion is that sales should be a mix of art and science, essentially relationships coupled with trends and analysis.

Source: https://www.entrepreneur.com/article/319959