Ventana Research today announced the release of its benchmark research, Next-Generation Sales Analytics. This research investigated sales analytics processes and systems, the best and worst practices, technology needs and potential or realized benefits. These best practices in this new report will help educate sales organizations who wish to not only be the most efficient, but manage sales effectively. Today a new generation of digital technologies is adding more power and flexibility to sales analytics. But the research finds that most sales organizations are using antiquated technology that is not well aligned to sales; This technology doesn’t help them improve their processes or generate the metrics and guidance to optimize sales outcomes.
The research indicates that organizations’ use of sales analytics capabilities enables them to achieve useful results. The benefit most often ranked first is to have been able to align the sales force to business strategy and goals (by 38%), followed by better managing and tracking the progress of product and sales initiatives (first or second for 40%). Further, organizations that have adopted dedicated sales analytics tools or sales applications said that using them has improved the outcomes of their sales activities and processes significantly (20%) or slightly (47%). The results varied by size of sales organization where the largest organizations were gaining significant increased levels of benefits.
Additionally, more than one-third (36%) of participants overall said the technology they use in their sales analytics process is not adequate. Likewise, only 28 percent said they are satisfied with their current sales analytics software. The research helps explain these results: The software most commonly used for sales analytics, by 36 percent of organizations, is a sales force automation (SFA) or customer relationship management (CRM) system, neither of which have been designed for the complexities of contemporary sales analytics.
“The research identified a key area where sales organizations and professionals are struggling; they do not have the processes or technology to be as effective as possible,” said Mark Smith, CEO and Chief Research Officer at Ventana Research. “The result is that many sales initiatives have failed to live up to their potential. Making optimal sales decisions does require trade-offs, and in competitive market situations analytics are essential to provide guidance so both the actions of individuals in sales and their incentives need to be aligned. Without significant change, most sales organizations will not be able to effectively identify areas for improvement and optimize their people and processes to generate the best possible sales results."
Those interested in learning more about this benchmark research can download the executive summary at www.ventanaresearch.com/benchmark/next-generation-sales-analytics. This research was sponsored by Optymyze and Qvidian. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with an incentive and complementary report, which includes both key insights and best practices from the benchmark research. Those interested in learning how to apply this benchmark in their business can see a full listing of services available at www.ventanaresearch.com/services including the market advisory and consultation service. Ventana Research advisory clients have premium access to insights and education on benchmark research.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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