From Data to Decisions: Leveraging AI for Accurate Sales Forecasting in CRM
Keywords:
Sales pipeline optimization, predictive analytics, CRM systems, churn prediction, customer behavior analysis, AI-driven sales forecasting, opportunity scoring, forecasting accuracy, resource allocation, business intelligence, sales management, machine learning, natural language processing, deep learning.Abstract
Contemporary workplaces are undergoing changes. Sales forecasting enhances revenue growth,optimizes resource allocation, and mitigates financial risk. CRM systems retain client information such as contact history, purchasing behaviors, and communication patterns, rendering them essential for sales. Relying on intuition and sales trends for predictions is inherently biased and lacks sufficient facts. Constraints may underestimate sales potential or overestimate prior accomplishments, impeding market adaptation.
References
Baier, M., Carballo, J. E., Chang, A. J., Lu, Y., Mojsilovic, A., Richard, M. J., ... & Varshney, K. R. (2019). Sales performance driven by machine learning and optimization. IBM Journal of Research and Development, 63(4/5), 1-10.
Bohanec, M., Borštnar, M. K., & Robnik-Šikonja, M. (2017). Explaining machine learning models in sales predictions. Expert Systems with Applications, 71, 416-428.