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How Is AI Is Empowering Sales | CIO Applications

Companies are using artificial intelligence and Machine Learning in all possible ways to advance their businesses. AI monitors a customer’s online activity to predict and suggest certain products which are relevant to the customer.

Companies need to identify the different types of data sets that can be combined to portray the complete picture of the customer base like sales departments historical purchase data and the marketing department’s website. Using these data sets, AI algorithm makes better predictions about who is more likely to respond to an offer.

A few ways AI is revolutionizing sales

Price Optimization

An AI algorithm could suggest what the ideal discount rate should be for a proposal to ensure optimal price by looking at specific features of each past deal that was won or lost. The specific Features could include the size of the deal in terms of dollar amount, product specification, compliance, and the number of competitors, company size, territory/region, client’s industry, client’s annual revenues, public or private company and many more.

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How Is AI Is Empowering Sales.