IoT becomes massively transformational when paired with machine learning and artificial intelligence. As vast reams of data are captured from connected devices and fed into business intelligence platforms so machine learning and AI can perform their magic, entirely new applications become available to businesses. We discussed many IoT applications across multiple industries and specifically across the supply chain. But what about leveraging IoT, machine learning and AI to empower the sales force?
Imagine an organization applying machine learning to recommend relevant products based on a specific prospect’s unique business characteristics? As a salesperson, imagine gaining powerful sales insights from machine learning using existing sales data to calculate areas of potential new value for your customer? Anything to raise the probability of a sale would be terrific. Even further, what about dynamic pricing, discounts and bundles based on historical or similar orders? Some of these applications are already in practice by companies like Amazon. Others are in theory being promoted by predictive analytics start-ups.
Artificial intelligence also offers some interesting use cases for sales professionals. For example, intelligent agents or AI-enabled bots, could enable voice-assisted quotes, contract or invoice creation and RFQ development. Offloading the grunt work from salespeople would enable them to put greater effort into the most important relationship-building activities that often make or break a sale.
Many of these use cases are being pursued or are currently in production in one shape or form. It will be really interesting to see how this area explodes over the next several years. Read more details about leveraging IoT, AI and machine learning in the sales organization at the link below.