Selling Times caught up recently with Joe Flaherty, Chief Technology Officer at Selleration, who revealed some fascinating insights behind Selleration’s new Predictive Analytics for Sales Quota. Get set for a break-through on machine learning and algorithms applied to the world of Sales to reveal key analysis and predict quota. Our interview follows.
Janice: Joe, Selleration just announced a new Predictive Analytics capability for Sales. How would you explain this new solution?
Joe: Our goal at Selleration is to improve the success of the Sales organization and sales people. Building on our robust Sales Readiness capabilities, a Predictive Analytics platform is a logical next step in that evolution. It takes real world sales performance of an individual or a group and predicts their likeliness to make sales successfully. It does this through a series of sophisticated machine learning and AI processes.
Janice: Why did you develop this particular capability?
Joe: Prediction at Selleration has always been at the forefront. We have an invested interest in it… giving our customers a way to pinpoint the “how” and “why” of a sales person’s success is paramount. Without it, a manager can only guess if their sales personnel will succeed.
Janice: Is this technology an add-on to your Uptick platform?
Joe: I would call it an evolution of the UPtick platform. It is our goal to integrate it entirely. Every interaction the user makes with the platform is cataloged and used to make predictions against sales performance.
Janice: How reliable are your quota forecasts based on your research to date?
Joe: Currently our predictions lie within a range; for example the platform might report that a sales person’s quota prediction could fall between 105% and 111% of that company’s quota attainment. Our predictions are based on many different industries and types of sales organizations from our current user base, and from input received from our industrial psychologists. Going forward, with even more sales people using UPtick, and as our user base grows, the range will shrink and predictions will be increasingly accurate.
Janice: Can you explain for our audience the basic capabilities and focus of UPtick, Selleration’s flagship product?
Joe: So as I mentioned, it is our passion to improve Sales success, which is what UPtick is designed to do. We take a three-point approach to improving sales: we measure, develop, and predict sales. We measure a sales person’s key selling attributes using evaluations, and simulations. We develop a sales person’s skills by giving them coaching and immediate feedback on performance gaps that we identify. And we predict their likeliness of Sales Success based on sales performance and quota attainment. Each of these three aspects – measurement, development, and prediction feed into each other and work together to improve selling performance.
Janice: Who will benefit most from your new Predictive Analytics?
Joe: I’d say any sales organization that wants to improve their selling power. We tailor to many industries and organizations – our predictions are meant to be agnostic, and meant to work with any group or organization.