Are you still relying on conventional methods for customer acquisition? Can’t you see a sharp increase in your sales anymore? Are you finding it challenging to grow your company to the desired level? You can solve all these business problems by leveraging analytics and technology as a service offered by some of the leading enterprise analytics solution providers out there. They will help you digitally transform your organization and boost your return on investment at a terrific pace. However, to gain a deeper insight into their working methods or strategy creation, you need to read this digital transformation case study.
This blog features the summary of digital transformation case studies of three organizations and how they benefited from them. To read this digital transformation case study in detail, you can click on the link.
1. A giant technology company improved the accuracy of its sales forecast by 15%
Recently, the sales team of a Fortune 500 technology company was grappling to achieve their quarterly sales targets. The administration knew they needed a solid metrics-driven approach that would help them accurately predict the number of bookings in the coming days. That’s when they introduced AI-powered forecasting algorithms to their core system, and the results were surprising.
They started making accurate booking predictions and identifying the sales team that was less likely to achieve the given sales target. It resulted in a 15% increase in sales forecast accuracy, a 30% increase in at-risk sales teams’ identification, and improved sales performance in a matter of months.
2. Another technology major saved a considerable amount equal to $330 million
It will help if you read this digital transformation case study with a little more attention. It is about another Fortune 500 technology company that has teamed up with several manufacturing partners and distributors to serve myriads of customers at diverse geographic locations. The challenge was that the management wanted to utilize an analytically driven closed loop and an integrated demand planning system to increase planning accuracy and lead time attainment. If you don’t know what closed-loop means, we must inform you that it is an automatic control system in which business operations get regulated using feedback.
Besides this, the lead time refers to the time consumed after initiating a production process until it gets complete. So, to achieve its planning accuracy goal, the company improved its current forecasting system by utilizing new external data sources and creating machine learning-inspired algorithms. They did that with the help of an enterprise-focused analytics provider, and their strategy worked. After some time, they have obtained a 17% increase in planning accuracy, an 8% increase in lead time attainment, and more importantly, saved $330 million in revenue.
3. A hotel management achieved a 10% increase in repeat guests
In one of the world’s developed cities, a decent hotel had been facing a common yet frightening problem – the reduced occupancy rate. If you don’t know the occupancy rate, we must say that it is the ratio of rented space to the total available area. In terms of hotel, you can understand it as the number of rooms booked out of the total number of rooms the building has for renting purposes.
So, the hotel’s problem looked like a major one as the cost of acquiring customers was high, and retaining them was no less than a hard row to hoe. Since they were facing problems collecting data from various sources, they approached an AI-powered retail analytics solution provider to integrate data from these sources. It helped them get an organized view of customers using CRM, demographic data, customer surveys and reviews, and other sources.
Post that, they took advantage of an analytics platform that offered them more profound insights into customer experience metrics. Thus, by analysing the data and making improvements, they achieved a 10% increase in repeat customers and a 6% increase in occupancy rates.
The endnote
I hope you know how adopting the latest digital transformation strategies can help you grow your sales and take your company to a new height. However, it is feasible only when you avail of business analytics services powered by machine learning and artificial intelligence technologies. There are scores of AI service providers on the web, but you need to choose one that guarantees to create customer loyalty, drive augmented sales growth, and get you more return on investment.
Apart from that, you can have a word with prominent enterprise analytics service providers if you want to avail customized solutions for your specific business problem. They will let you know the options to resolve your core issues, streamline your workflow, and achieve incremental sales growth.