Availability and analysis of data is a hot action item for organizations today. Every company wants to have access to the right data to analyze and drive their future business decisions and ultimately achieve their business outcomes. In the Sales Performance Management (SPM) industry, the use of data has caught on, and organizations are looking to use data to effectively plan, improve their compensation process, and optimize their sales performance.
The Paradigm Shift in SPM
In part one of our webinar series, How Big Data and AI/ML Are Transforming Sales Organizations, I discussed the paradigm shift in the SPM industry and the move from basic ICM to full fledged end-to-end SPM solutions focused on sales planning, execution and optimization in effect in top sales organizations.
I also highlighted how availability of data isn’t necessarily the solution unless you have the right data to analyze and drive future decisions. If you missed the first webinar, you can listen to the recording here and read our top 10 takeaways here.
The Importance of Data-driven SPM
In a highly competitive world where buyers are growing increasingly more aware of what they want, innovation happening at a rapid pace, enterprises are constantly looking to drive revenues and increase their market share.
To achieve these business outcomes, it’s essential for enterprises to continue to invest in optimal SPM solutions, which use data as an asset to effectively plan territories, design attractive sales plans and accelerate attainment of sales goals. Even companies who use the route to acquire or merge with their competitors must keep their primary focus on enhancing their SPM solutions.
In part two of our webinar series, I’ll dig into more depth around the benefits of data-driven SPM with examples of using data to drive specific use cases in the SPM value chain. I’ll also discuss how enterprises can manage today’s growing complexity and use data to:
- Optimize territories based on multiple data sources to ensure that sales resources are not wasted and sales opportunities are not neglected
- Design attractive incentive plans that reward and retain top performers, based on constantly updated industry benchmark data of pay and performance
- Accelerate attainment and optimize performance while maintaining a dashboard warning of problem areas including rep attrition clusters of under-performance, changes in key sales indicators, and more
Driving Growth with Data
Join us for part two of our webinar series and see how data can be the driving force behind SPM planning, execution, and optimization. With the right data, you can take your sales organization to the next level and turn it into an enterprise strategy.