SalesChoice CEO Dr. Cindy Gordon started on the topic of sales becoming a science by saying there’s a huge uptick in the market for sales forecasting and analytics.
“Analytics is the most effective factor in modern day sales,” she said.
Dr. Gordon explained that SalesChoice utilizes uses a sophisticated algorithm that employs sentiment mining, Bayesian statistics, and other statistical techniques to empower sales teams with predictive analytics (like predicting the likelihood of closing an opportunity) and prescriptive analytics (knowing that a 5 percent increase in discount will improve your chances of closing a deal by 25 percent).
In the past, salespeople have had the tendency to rely largely on instinct, Gordon said, which isn’t the best approach. But with modern tools and technology, sales leaders can use data to observe and change their behavior, if needed.