It is no secret that analyzing the data will eventually help you in making better sales and growing your revenue. However, it becomes hard to check all the different types of data and predict something.
That’s where your SAP Sales Cloud, the next-generation CRM software comes into consideration. It is an all in one suite which works on machine learning to help your business.
Before getting more into the SAP sales cloud, let’s understand what is SAP machine learning and how it will help you in achieving the results you want.
What is Machine learning?
Machine learning is a concept where a computer or program can learn directly from the data provided without any kind of explicit programming. In simpler words, once you provide enough amount of data to a computer, it will automatically train itself from the data.
With this data, you can train the machines to see, read, listen to data, understand it, and last the machine can also interact. These trained machines will help you to automate your business and also scale it with ease.
Machine learning is a very old concept but it has been very popular in recent years. This is because of the data. It is now easy to aggregate all types of data and train the machine. Today’s tools adapt the data by using fewer resources. In other words, there are a lot of improvements made when it comes to hardware and GPU (Graphical Processing Unit).
Machine Learning for SAP Sales cloud
This was all about machine learning and how it can automate your task, now let’s get into how it is useful in our SAP Sales Cloud.
Machine learning can help a lot when it comes to SAP Sales Cloud. People from all over the globe are using SAP machine learning to predict sales. This concept is known as Deal Intelligence (more on it later).
Basically, the machine will first collect historic data. Thereafter, the machine trains itself to learn which were the important factors in closing the deals. It checks all the pattern which resulted in successful sales. Along with this, it also checks which type of pattern resulted in no sales.
Once it identifies all the patterns, it calculates and gives you the opportunity score. This will decide the probability of a successful win. Along with this, the machine will also check the account health and recommend the product based on the data.
Example of how SAP Sales Cloud works
Let’s take a scenario into consideration.
We will take two salespeople into consideration here, one of them is a sales executive and the other one is the sales director.
Scene 1: The director asks the executive about the progress of the deal. The executive has surely done all the possible things to win the deal. He further also has a gut feeling that the deal will be successful. The problem with the gut feeling is that you can’t 100% be sure that the deal will close. Further, you don’t even have enough data to know whether the deal will close or not.
Scene 2: The solution? You use machine learning tools to check out what are the chances of the deal being successful.
Scene 3: Machine learning will analyze the data and calculate the opportunity score. For instance, it will say that there is an 88% chance of closing the deal. It will further state all the factors which will lead to the score. It will give you a glimpse of all the activities.
Scene 4: Now, the executive can stop the guesswork and get back to the business. It will eventually help the executive to focus more on business and do the important things first. The machine will do half of the task for them.
Deal Intelligence Machine Learning in SAP Sales Cloud
The most important thing when it comes to SAP machine learning is the deal intelligence. This is the place where the machine will collect all the data from past history and see the pattern. Later on, it will give out the score (deal intelligence score). Using this score, one can know if the deal is going to be closed or not.
Here are a couple of things that deal with intelligence that will show you.
- The first thing is the opportunity score. It is basically the probability of the deal.
- Next, it will show the key factors which affect the score most.
- It will show the activity score to show the sentiments and activities during the deal cycle.
- There is a heatmap available to see the hot and cold parts of the engagement cycle. You can optimize the SAP Sales Cloud for better results.
- You will also be able to see the quick summary of all the activities and also the followup activities.
- The deal status will show if the deal status is upgraded or downgraded.
- You can also see the days left for the closing date.
- If the close date changes, it will show you the number of times it has been changed. It will also show you the other deals which are in the same phase.
- It will show the changes in the opportunity amount.
- If the deal is slipped, it shows the number of times it has slipped.
- Last but not the least, SAP machine learning will further show you the key risks for the deal.
SAP Sales Cloud Brings Account Intelligence to Users
You don’t always need to consider the deal and the products while making a sale. Sometimes, there is a need to check the right accounts in order to optimize your SAP Sales Cloud. You can do it by the SAP machine learning.
It will help you to get the overall health of all the accounts. You will further get insights into each and every account with a score. You can use all of these insights to focus on account-based selling. Just like deal intelligence, all the factors are given which will tell you the key factors to result in that particular score.
The best part is that SAP machine learning works on all the accounts. Even if all the account’s data are on multiple applications, you can use the SAP machine learning along with the SAP Sales Cloud to make more sales. It will give you the complete metrics at the account level.
The system will also give you some of the basic information such as an increase in revenue and number of employees. Understand the health of your accounts and use insights to engage in account-based selling and nurturing.
Combining all of the data will help you to optimize and prioritize your funnel according to the scoring and the factors. As a result, you will be able to improve the conversion rate and gain more sales. SAP machine learning will collect all the data from internal SAP as well as it will collect data from an external source to give the perfect result.
Revenue and sales are another important part when it comes to the sales funnel. SAP machine learning provides the most accurate forecast predictions for thee things. All the sales leaders can automatically know the opportunity of a successful sale and can also know the estimate of revenue.
It gives you the charts on forecast revenue, target revenue, and won revenue. It will further give you the opportunity list according to the score. Everything is shown clearly which will give you an idea about the prediction in no time.
Gone are the days when you could just recommend a product based on the category. Now, there are hundreds of products available and the user’s interest in highly unpredictable without proper analysis.
That’s where you can use SAP machine learning to optimize SAP Sales Cloud. Machine learning can collect all the historic data from the user. It will then learn from the user’s metrics. Depending on what users brought, it will create a recommendation system.
It will help you with the upsells of the product. The machine learning algorithm will calcite all the historic data in the least amount of time. The more data it has, the more accurate the recommendation will be. Overall, it is very much useful in increasing the cross-selling of the product.
The system surely shows all the document flow. This will help you in knowing how a specific product is recommended along with the primary product. Therefore, it will help you a lot in recommending the correct people and hence increasing the sales and revenue of your business.
It is always a better option to have a personal assistant beside you, right? That’s where you can use the SAP Co-pilot. It is a personal assistant who can help you with anything. A couple of reasons to love this co-pilot is because of the easy interface, quick actions, and most importantly it understands your business in the perfect way.
Below given are a couple of features or the ways in which the SAP co-pilot will help you.
Easy UI: You can quickly have a conversation with the co-pilot in the human language. It also supports text, voice, and gesture. It will help you to converse with all the other people in your business context.
Insights: it will further show you all the other insights according to your role and the situation of your business. You can check all of it and take further decisions accordingly. You can check the insights directly in the chatbox of the assistant.
Quick actions: it will help you to take some of the quick actions such as creating a business object etc. The assistant will also suggest you the action. Hence, you can take action in no time.
Recommendations: Of course, lastly it is all about the data. The personal assistant will then suggest you the actions you need to take. The machines learn from the behavioral data and suggest you the best actions you should take.
In simpler words, it is an ERP system that can talk to you and also chat with you. Further, it will suggest you the best possible actions you need to take. Everything is done based on historical data and behavioral data. Hence, the data is accurate.
How SAP Sales Cloud and SAP machine learning work?
You surely might be thinking about how does the SAP machine learning or the SAP Sales Cloud work. Well, here is the explanation in the simplest steps.
- Machine analysis of the old data and learns it. There are a couple of things that are considered here such as data quality, data consistency, data balance, and data volume. Depending on the data, the machine will learn it.
- The next step is the scoring. This is the part where the machine or the system will calculate and give out a score based on the data.
- Lastly, the system will predict and give away the actions which you need to take in order to get better results. This is the place where you will get the final results for your business.
SAP Sales cloud machine learning can be applied in various fields as it gives out the information on every single thing. Some of the places where the SAP sales cloud can be very much useful include sales, activity, marketing, finance, as well as services.
In each of these fields, SAP machine learning can be very much useful in one way or the other.
If you want to know the technical working of the SAP Sales Cloud, you can surely take a look at the below-given image where a very single thing is explained in brief. Here, the C4C dataset is taken to explain all the things.
To conclude, this was all about SAP Sales Cloud and SAP machine learning. The system will handle all the numbers for you and do the forecasting for your sales team. In this way, the sales team can focus on other important tasks such as building new relationships and coming up the new strategy. Both of these together (your sales team and machine learning) will surely boost your business tremendously.