Like Moneyball – Sales Data Wins the Day
In the movie Moneyball the Oakland A’s baseball team was at the bottom of their game. To quote the movie … “There are rich teams, there are poor teams, then there is 50 feet of crap, and then there is us.”
Based on a true story of the 2002 Oakland A’s who used statistics to hire a team of superstars that everybody else thought came from the island of misfit toys. In other words, they came cheap. With a budget of 40 million, that is all they could do. Bit 20 consecutive wins later, this new approach to staffing and coaching a pro baseball team worked.
How did they turn it around? The answer is data. Data transformed the game of baseball.
The stats in baseball are things like RBIs, home runs, pitching stats, bunts, stolen bases … (baseball statistics reference)
In inside sales it’s things like appointments set, appointments held, demonstrations, totally qualified leads, proposals sent, sales closed, average revenue per sale, average sales cycle, average response time to a lead, average response attempts before giving up…
By focusing on the revenue portion of business intelligence – Sales – you can have the quickest positive impact on your business. Predictive analytics and sales data analysis gives your team the knowledge to win. Inside sales as an occupation is changing and the key to success is new sales organizations is consistently hitting quota.
The book SuperCrunchers analyzes the role of data and how data is transforming every industry, company, and career. We need to stop thinking intuitively and start thinking by the numbers. I invite you to transform your company with business intelligence and data – specifically with sales data.
The attached infographic shows how we analyzed our sales team for day of week on deals closed. The data showed us that certain reps were over utilizing the end of month for closing deals.
Based on the analysis of the data and predictive analytics we improved our sales process and provided additional sales training. It works.
Catch the full webinar on Leveraging Your Sales Data.
The bottom line is data will transform your business.
If you don’t have the expertise in-house to analyze your sales data, XANT just launched a Predictive Analytics Consulting process you may have interest in.
Free Inside Sales Industry Research
Gain access to additional inside sales industry research, including the original Lead Response Management study.