VPs of sales who use business analytics software know how valuable these programs can be. Business analytics can provide insight into company practices across the board, from sales behavior to employee performance to industry trends. This information is priceless to decision-makers at a company, as it allows for smart choices to be made on important topics such as incentive compensation management, budgeting and yearly forecasting. Keep reading to find out how business analytics software can help VPs of sales make smart choices: Develop talent management strategies When a company focuses largely on sales, individual employee performance matters – every worker can make a big difference in company revenues. If there are more than a handful of salespeople at any given company, though, it may quickly become difficult to track employee performance on a fair and regular basis. This is where business analytics software comes in. VPs of sales can use business analytics to monitor individual and department-wide facts and figures. The results can be illuminating – supervisors can see patterns in an individual’s performance, and can make decisions on how to best use their employees’ skills. A VP of sales will be able to see, for example, that a specific employee thrives in moving a certain product that others struggle to sell. Using this information, the manager can then harness that salesperson’s talents and ask them to lead a sales demonstration for other workers. High-quality data Business analytics software cuts through the uncertainties of spreadsheets and offers high-quality data that managers and HR representatives can reference at any time. Because the data-mining process is both highly refined and automatic, individuals won’t have to worry about inaccuracies in any of their reports. Decision-makers can then use this reliable information to look at industry trends and overall company performance. Having this kind of in-depth information at one’s fingertips can greatly improve short- and long-term operations.
