Flemish and Dutch companies mostly use a CRM and/or ERP system. Ideally, both sales and marketing find their way into it smoothly. Business developers get to work with the data from these systems. Yet much more can be extracted from these sources of golden data. A few concrete points that can be addressed.
Put an extra AI layer over your CRM and ERP
Thanks to a well-set CRM and ERP, you can get additional insights. You can see what happened on a customer account in the past. This allows you to start classifying. This aggregated data in turn feeds insights and action points. But each time, this is only about historical data. What happened in the past is not something you can immediately formulate action points around for the future.
Enter AI! CRM and ERP developers focus on the core of their product. Some artificial intelligence is sometimes added to that. Developers never use the full power of AI. However, a lot extra can be gleaned from that CRM and ERP data. With artificial intelligence, you get deeper insights and, above all, you can make predictions.
The predictive power of AI
Classic BI, which analyses historical data, is still proving its worth. With only classical BI you won't get there in 2022/2023. You are losing ground against peers who have already made strides in the world of AI. The added value of AI, which allows future predictions based on past data, has become enormous. Some examples:
Sales forecasting and sales predicition: forecasting the number of sales and turnover over a defined period. That way, you can start presenting clear forecasts in the longer term.
Read more about sales forecasting.
Demand prediction: predict how much demand there will be for which product. This can help you set up better inventory management. That way, you don't tie up too much cash in your business.
Read more about our demand prediction software.
Sales opportunities: a great way to steer your sales in the right direction. By starting to qualify sales opportunities based on historical data, your team can focus on the right potential customers.
Read more about the sales opportunities with Trendskout
Churn predication: retaining a customer is always more financially rewarding than having to hunt for new customers every time. Predicting customer attrition should therefore be high on the agenda of every sales manager. Sound the alarm in time so that the customer can still be saved.
Read more about churn prediction
Impact Analyses: our behaviour is a complex confluence of smaller decisions. Why does a customer choose us? Or does he/she just choose someone else? With an Impact Analysis, you can get a lot of answers to such questions. Resulting in a change of approach or at least adjustment.
Hard to start with AI? No way!
So the possibilities of AI combined with your CRM or ERP are endless. They offer you better insights, they save your team time and they bring you more pennies. This allows you to build a better business and make strategically informed decisions. Convinced of the added value of AI? If yes, you might be asking yourself the question: how do I get started with this.
This question used to have a very complex answer. You had to look for data scientists who then also had to develop methodology and write algorithms. Today, we are on the eve of the democratisation of AI for SMEs (and SMEs in the Netherlands). We are doing our bit for this democratisation of AI with Trendskout. We built an easy-to-use system that makes complex itterations in the background in a library full of complex algorithms. This allows us to offer companies a ready-to-use platform where a knowledge of data is hardly necessary.
