Finding the sales growth hidden in your customers
Machine learning has quickly become the hot topic. The good news is our machines have been learning for the last 30+ years. With that experience, you can confidently put PROS Opportunity Detection to work for your sales team and find the sales growth hidden in your customers.
To find that sales growth, Opportunity Detection applies machine learning to analyze transaction activity, uncover buying behavior trends and identify new opportunities. Using machine learning techniques such as outlier detection, churn forecasting and clustering algorithms, it finds inconsistent, declining and gap purchasing behaviors at the product level for each customer. Opportunity Detection then presents those sales opportunity recommendations to each sales rep in their familiar CRM environment for instant evaluation and action.
Armed with Opportunity Detection, your sales team can now quickly determine how to invest their time to build relationships (inconsistent), prevent churn (declining) and expand the share of wallet (gap) with current customers.
It starts by PROS Dynamic Pricing Science using machine learning techniques to uncover buying behavior patterns at the account and product group level:
Using outlier detection algorithms, Opportunity Detection finds inconsistent buying patterns that may indicate the potential to strengthen the relationship and become more of regular business partner.
Using churn forecasting algorithms and filtering out seasonality, Opportunity Detection finds declining buying patterns that may indicate a customer is shifting their purchasing of a specific product to another provider. Now the sales rep can proactively take action to retain this business.
Using an ensemble of PROS unsupervised machine learning (clustering) algorithms, Opportunity Detection clusters accounts with similar product portfolios and identifies products each customer is not buying but its peers are buying.
Opportunities Presented in familiar CRM systems
Opportunity Detection automatically presents the recommendations on the account page enabling each Sales rep to quickly evaluate the opportunities specific to their customers.
Supporting information details are provided for each recommendation making it easy for the sales rep to quickly assess its potential for immediate action.