AI + Sales = Intelligent Selling
Technology innovation for the sake of technology does not offer any real business benefits but when applied in the right context to the right problem, it can be incredibly trans-formative. Getting into 2018, you may have heard the words “Data” and “Machine Learning” so many times already you are probably going — ok, I get it! How can I start to apply it to solve my business problem?
At SAP, we are excited to make use of the advances in AI and embed the technology into our Hybris applications to help our customers transform their front office experiences to ultimately get to know their end customers better than ever before.
So if Machine Learning is not a new then why all the focus now?
Firstly, companies today more than ever have access to cheap computing power. This has dramatically lowered the cost of prediction. What took days earlier to train a model can now be done in minutes.
Secondly, companies are producing more data than ever before. According to Industry insights, approximately 90% of the data in the world that is available today was created in the last 2 years.
Last but not the least, it’s access to open sourced ML algorithms. More and more of ML related innovation is now out in the public domain and companies starting out can take advantage of pre-trained network models for classifying text or images without having to start from scratch.
Ok, so how do you deliver Intelligent Front Office Experiences?
By combining the power of SAP Leonardo coupled with best in class front office applications across Sales, Service, Marketing, Commerce and Cloud – SAP Hybris can deliver on the promise of creating unique and personalized experiences for the front office. The idea is to infuse intelligence to the existing applications so customers can leverage their investments and in parallel accelerate their digital transformations to be become an intelligent enterprise.
What’s the value proposition of using SAP Leonardo with SAP Hybris?
If you look at building data products, experts will agree that 80% of the time is spent on data. This is especially true in the enterprise where the grim reality is that data is not clean. Of course, you can always hire a bunch of data scientists and have them manually build a model for about half a year until you get the perfect model. This approach however will not scale when you are running a business.
So the challenge is not about picking the best algorithm using clean labelled data as done in academic settings but rather how do you go from unclean and low volume data to building a useful model that solves a business problem. We call this building a data pipeline.
At SAP Hybris, we spent a considerable amount of effort in building data pipelines from data ingestion to feature engineering to model deployment in production. With the SAP Leonardo platform the entire machine learning workflow is automated and intelligence is infused to the application so business users can get prediction value from the get-go.
How can we get started – What ML Scenarios are available today in SAP Hybris Sales Cloud?
By applying machine learning across the entire sales funnel, organizations can get tremendous value whether it is related to bottom of the funnel in opportunity to close process or top of the funnel from prospect to sales ready lead creation.
To be more specific, with Deal Scoring we answer the question which of your deals will be closed-won, with Lead Scoring we answer which of your leads will be converted to opportunities, with Account Scoring we answer which of your accounts are showing the highest buying propensity and with Image Intelligence retail companies can improve product compliance.
What are the main business benefits?
ML is surely not a silver-bullet. You need data discipline, sales user adoption and a standardized selling process in order to make prediction work. When done right, companies can realize tremendous value across all key roles in your Sales Organization.
Sales Reps: Can meet quota by acting on deal and account specific recommendations
Sales Managers: Improve win rates for their teams and coach their sales reps more effectively
Sales Leaders: Grow revenue and get more predictable at forecasting
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