The busy hustle of the world has come to a perennial standstill with COVID-19 fear gripping the universe. The world economy has ground to a halt and at the minimum, the pandemic’s economic impact is projected to slow down global GDP growth throughout Q1 and Q2. Some experts are anticipating a mid-year contraction as well and some have gone the extra mile to predict a serious economic fallout that could last for different lengths of time depending on the sector or industry.
These are the times for businesses and organizations to make critical decisions that make or mar the companies and brands. And helping the leaders of these businesses and organizations to make these critical decisions is Artificial Intelligence (AI) enabled tools and solutions.
Types of Critical Decisions
Senior executives in leadership roles or drivers of the industry need to be thoughtful as they make crucial decisions during these troubled times. Decisions ranging from organizations’ staffing levels, sales management, marketing spend controls, supply chain management, and financing. These decisions can be divided into two parts.
- Decisions related to daily business operations—work-from-home policies, disaster recovery preparations, etc.
- Decisions that prepare their organizations to respond effectively to the emerging economic impact in 2020 and beyond.
Making the right choices with AI
As mentioned earlier, this is here that artificial intelligence’s role begins. In these unprecedented times call for tough decisions. Instead of making decisions based on emotions or guesswork, predictive analytics can facilitate data-based, objective decision-making.
The decisions these leaders make at this critical juncture will drive the business performance well beyond 2020. To give the organization the best chance of survival and success in this climate, business owners and leaders need to harness the power of AI to make sure that they get things right.
Using AI at ONPASSIVE
A ‘Gain-Ability’ prediction model on the Salesforce AI platform to drive sales management is being developed at ONPASSIVE. Under this model, artificial intelligence can predict which deals have the greatest likelihood of closing. The model utilizes auto-machine learning capabilities to build a predictive model based on historical data trends.
ONPASSIVE’s AI-enabled smart business solutions identify the key types of indicators that lead to success in the field. Then using a predictive model, ONPASSIVE runs the numbers to determine the correct fields and data. As a result of the AI-driven model now accurately predicts how likely salespeople are to close a deal or win an opportunity.
These smart tools can focus on sales resources on the right deals to drive revenue. Apart from this, they can leverage insights from the tool to target inside sales and marketing efforts on second-tier opportunities in the pipeline.
ONPASSIVE AI to support clients
Several clients of ONPASSIVE too have been looking forward to implementing predictive analytics of ONPASSIVE’s data-driven AI predictions. With these business solutions, a client can predict whether a project is likely to be technically feasible with around 90% accuracy.
The model organizes and scrutinizes thousands of previous projects from two decades’ worth of data and assigns a winnability score to each new project coming down the pipeline. Instead of wasting time pursuing each project with the same intensity, the leadership team can efficiently use their resources to ensure their most important projects get completed.
In conclusion, if you are responsible for making critical business decisions that will determine the survival and success of your organization? We recommend you explore how predictive analytics and AI could provide you with the critical insights you need to make the right choices during this time of crisis. Learn more about ONPASSIVE’s AI capabilities here.