We Predict Big Results with Oracle Fusion Sales Predictor
By Kathryn Perry-Oracle on Dec 24, 2012
A guest post by Krishna Mulukutla, Director of Product Management at Oracle
It’s a tall order for companies like yours in this competitive market. You have to stay relevant. You have to have a constant stream of new products. You must find innovative ways to sell them. And you must increase revenue and market share.
Some of you are continuously growing your customer base. Others of you are increasing your share of an existing customer’s wallet. And many of you are probably doing both. If you’re a sales manager responsible for achieving quarterly sales targets, you undoubtedly wrestle with these questions: Which types of customers are buying which products? Which prospects most resemble existing customers? And are the right products being offered to the right customer at the right price?
As you know, customers today have a short attention span. If your product offerings are not tailored to their needs, they will turn to the competition. It’s been a futile and fear-filled exercise to implement a process that addresses these questions and is intuitive for the sales force to adapt. Until now.
Introducing Oracle Fusion Sales Predictor!
Oracle Fusion Sales Predictor is a customer predictive analytics product. It can help your sales reps identify the next best products to sell to their customers by mining their customers’ enterprise data. At its core, the application looks at historical data of things that customers have purchased, uncovers selling trends, and uses these valuable insights to make predictions about what they will buy next.
Sales Predictor can help your sales reps discover the high potential sales leads in their territories. They can determine the top 10 products each account will likely buy, the deal sizes if they close, and the length of the deal cycle based on the historical trends of similar accounts. When your sales reps act on these recommendations, they can broaden their pipeline and increase their chance to meet quota.
Different and Better
How are your reps getting this intelligence today? Are you using a standalone data mining and prediction tool such as SAS, IBM SPSS, and KXEN? Chances are good that it’s not integrated into a CRM system and is fairly difficult to manage. Plus you probably don’t have any feedback mechanisms to track users’ responses to the recommendations the systems generate.
Oracle’s Sales Predictor, as part of Fusion CRM, is built for business users. It doesn’t require a team of statisticians to uncover common selling trends in a business. Oracle Sales Predictor embeds predictive analytics from Oracle Advanced Analytics’ high performance SQL data mining functions combined with Oracle Real-Time Decisions. OAA identifies similar groups of customers and predicts the amount they’ll purchase and when. To complement the data mining capability, Sales Predictor also leverages RTD for recommendations and business rules that recommend products when historical data is not available. And Sales Predictor monitors which recommendations have been adopted and uses that data for additional data mining to fine tune future recommendations and predictions..
What’s Not To Love!
So, we’re pretty sure you won’t be able to resist increasing your sales reps’ productivity by helping them sell more. Or getting them more leads. Or increasing your business revenue by leveraging the data you already have. Plus your sales reps will love to use Oracle Sales Predictor. The refined intelligence will point them in the direction of success – and prove handily that CRM is no longer just a reporting tool to enter opportunities and forecast data. Click here to learn more.