Data Science is taking the lead in the Sales and Marketing Industry, Data Science is providing the most valuable insights into the content which is most effective at each stage of the Marketing & Sales cycle. Sales and marketing analytics are essential to extract relevant insights, increase conversion rates, prospect engagement, increase profitability, and improve brand image. By implementing Data science and Analytics, An organization can pitch a new audience, new markets, areas for future development. Sales and Marketing companies can leverage the power of Data science and Analytics to make to process more precise and efficient by increasing the customer engagement, product forecasting, lead generation which helps salespeople become more productive, better coordination between teams, planning better marketing campaigns which ultimately results in increased revenue.
Sales & Marketing industry faces many challenges like-frequently changing consumer requirements, competitive environment, Sales forecasting problem and customer environment. With all these challenges, Sales & Marketing organizations need to apply Data Science and Analytics which will help them stay ahead in the competition. Some of the important applications include –