Blog

A Crystal Ball for Business?

By Alicia Scherba
October 27, 2016

What if there was a way to predetermine the right action for each and every life choice? Picking which college to go to; finding out if your partner is the right one; deciding whether or not to have kids; exploring new career paths; or moving for a promotion.

While at first glance a lot of people may say they would like this ability, I think after more thought, most people would decide this crystal ball isn’t the way to live. Life is meant to be a journey for you to learn through trial and error in order to figure out what’s right. It’s how we figure out who we are.

I am sure we all have made decisions that we regret, but at the end of the day, “what doesn’t kill us, makes us stronger”, right? Though a slightly heartless generalization, I do believe it. We need to learn from mistakes in order to learn who we are and be able to move forward.

Business is a different story.

I doubt there would be many people saying they love making business mistakes. I doubt that hiring managers enjoy missing out on a superstar applicant, or that buyers like knowing they paid an exorbitant price after the fact.

What if there was a crystal ball that could alert you if a business deal is looking risky or your customers are about to defect?

What if there was a way to stay ahead on account or product related risks in real time while also having a platform that designates ownership of specific aspects of a situation to reduce risk. What if you could determine and establish what metrics are most critical to your profitability and overall sales health, and be able to make informed decisions?

While a good Account Manager is probably up-to-date on a few select customers, there is so much more happening with other accounts that slips through the cracks. With our version of the crystal ball, a VP could look at customer and product trends across their entire team, while drilling down to see how specific accounts are functioning. If they notice a customer buying less or a product’s performance declining, they can alert team members who can take responsibility for solving the problem.

Each person is able to see what is relevant and stay informed of vital trends. With so many moving parts in Sales, having the insight into how your entire landscape of clients are doing, and being able to zero in on multiple factors of business health, is an invaluable tool.

While there still is no true crystal ball, I think an early warning system for your business, which provides actionable sales intelligence, is getting as close as possible.

To learn more about what Vendavo Business Risk Alerts can do for you, download this data sheet.

  • finance , future , predictive analytics , pricing , profit , sales

    Alicia Scherba

    Alicia completed her B.S. in Molecular Environmental Biology from UC Berkeley and spent three years in the Climate Sciences division of the Lawrence Berkeley National Lab as a research assistant focused on carbon cycling. She then moved on to do policy research for the Silicon Valley Leadership Group where the most up-to-date research was crucial for gaining support of new legislation. She is currently at Vendavo where she conducts research and analysis to support the sales development team. Her love for research and data has remained constant though the industries have varied.