Join Barton Poulson for an in-depth discussion in this video Predict trends, part of The Data Science of Retail, Sales, and Commerce.
- [Narrator] Let me ask you a critical question.…Can you tell if a deal will go through?…Are you able to identify the good leads,…the ones that are going to be most productive…for you and your business?…Well, I like to think that most experienced people…in business have a good intuitive sense of this.…However, the data does not always support this…in the way that we want it to.…A recent study by CSO Insights reported on one company…that went from gut-level predictions about sales wins…to predictive analytics.…
The gut-level win rate, that is the percentage of leads…that they thought they were going to successfully close…the sale based on a gut impression was about 59%.…That's over 50%, that's good, it's almost two-thirds.…It's not bad but when they went to solid…predictive analytics, it increased to 76%…in terms of accurately predicting the win rate.…This was enormous and in a large company,…this can make a difference of millions of dollars…and productivity over the year.…
Now let's compare that with one other thing.…
- Data fundamentals
- Retail, sales, and marketing data
- Analyzing consumer sentiment
- Exploring market segmentation
- Evaluating leads and customers
- Getting recommendations from engines
- Pricing dynamically
- Predicting trends
Skill Level Intermediate
Q: This course was updated on 04/02/2018. What changed?
A: We added one video on data science careers in retail and sales.