I cover consumer-centric insights and analytics that provide executives with solutions needed to drive strategy. I am the CEO of Prosper Business Development where, for more than 20 years, we have provided market leadership and developed contemporary solutions to help Fortune 500 companies navigate change that impacts their business.
Not long ago, the sales trajectory for a pair of sneakers might have included an intricate mix of historical sales data analysis, gut feeling, and market intuition. Sales teams would pour over last season’s spreadsheets, relying on past shoe sales patterns and outdated customer information to make “strategic” decisions about market segmentation, resource allocation, and revenue forecasting. Often, teams reacted to shoe trends rather than anticipating them.
But today, AI has fundamentally altered the sales and marketing landscape. Instead of relying on last year's shoe sales figures or past seasonal trends, AI can now digest vast amounts of data — customer reviews, browsing histories, purchase patterns, social media sentiment, and more — to anticipate customers' needs and retail preferences and forecast sales with astonishing accuracy.
Equipped with AI-powered predictive analytics, sales teams can anticipate how many pairs of running shoes will sell next month, which colors will be most popular, and which marketing messages will resonate best with various audiences. The wealth of available data on consumer behaviors and buying trends makes sales and marketing prime candidates for AI and predictive analytics.
Post-Pandemic Consumer Machine Learning Predictive Analytics Strategic Marketing Data Behavior Technology
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