A Growing Demand For Data-Driven Operational Intelligence
Business professionals like Brian Burkholder of Solar Energy Systems want the ability to view pipeline forecasts through multiple lenses. They want these dashboards view to include average sales price, pipeline velocity and market segments.
For this reason revenue-driven sales and operations planning has been gaining momentum as recessionary pressures have driven companies to try and squeeze every bit of profitability from their operations. They are trying to improve efficiency and performance of their supply chain via better alignment, planning and visibility.
Insight is everything in business. Having the right tools to optimize business processes is the wish of every business analyst. While business intelligence as a discipline has existed for many years in enterprise computing, operational intelligence has emerged in recent years as the hot-button area for driving business optimization.
Using Social Selling CRM Nimble and integration with some proprietary solutions, our client Solar Energy Systems is able to enjoy a high level of visibility into what is happening in their business through a revenue-driven system.
The Behavioral Side of Operational Intelligence
The goal of operational intelligence (or business process intelligence) is to provide business analysts with real-time data related to business processes and activities as they are executed. This real-time information can then be used to optimize business processes by enabling them to make changes midstream to avert an interruption or avoid a bottleneck.
There are many different types of solutions on the market that attempt to provide business analysts with this operational intelligence. One that is worth taking a closer look at provides a very different approach than more traditional business intelligence. It is combining behavioral studies to digital technology, and DIR Incorporated believes it may be the sweet spot to really drive success in operational intelligence throughout your company.
Solar Energy Systems is now able to reliably forecast future revenue by having a view into past transactions. They do this through a revenue-driven program we helped them develop. The key is that their intelligence is not tied solely to sales lifecycle activities, but, rather based on performance assigned to all marketing and sales activities, across programs and departments. And, they are not the only ones succeeding.
In fact, organizations who apply best practices in the area of operational intelligence are able to see past the average length of a current sales cycle. They are able to predict future outcomes in order to plan for subsequent quarters. Here are the goals we can help you work towards:
- Ability to assign revenue values to various stages in the marketing pipeline
- The use of real-time data to accurately forecast revenue beyond the average length of a sales cycle
- Ability to view pipeline forecasts through multiple lenses, including average sales price, pipeline velocity and market segments
The key to getting this process to work in understand buyer persona. “ Buyer Persona” is a buzzword in marketing right now and the benefits of investing in personas are as diverse as the organizations trying to create them. In our next blog, we you cover this process and buyer personas in more detail.