AI-based predictive sales analytics and ERP data mining: technologies that help wholesale distributors increase margins, stay competitive, and reduce costs. B2B wholesalers face the challenge of keeping up with current market dynamics and acting with foresight. Enter AI-based predictive analytics and ERP data mining. How can applications of these technologies help wholesale distributors? Distinguishing Between Predictive Analytics and Data Mining: It is essential to differentiate between the two terms to fully understand the role of predictive analytics and ERP data mining in B2B whole ..read more

  AI in Wholesales and Industrial Distribution: The Winds of Change in B2B Sales. In the world of B2B sales, where specialist wholesalers in Germany cater to 5,000 to 10,000 customers and juggle an inventory of 20,000 to 100,000 items, the winds of change are blowing more robustly than ever. The e-commerce juggernaut has unleashed a digital storm, compelling sales managers, and executives to adapt and innovate. Powered by AI and predictive sales software, dynamic pricing is one of the most potent instruments in this battle for relevance and profitability. This article will take you on a ..read more

  Businesses looking to increase growth may find themselves asking, “What is ‘return on sales’, why is it important and how to improve it?”. If you’re in this same position, you’re not alone. As an important metric for business success, today we’ll answer these core questions and offer some advice on increasing return on sales in your organisation. What is the return on sales? Return on sales (ROS), at its core, is a measure of how efficient your operations are. It looks at your total net turnover figures and denotes how much profit is earned on every euro you take in. This is expressed ..read more

  This article outlines the key stages in the history of artificial intelligence (AI) and machine learning (ML) up to current applications. You will also learn what role AI and ML play in today’s B2B business processes and why they are essential for predictive analytics. The history of artificial intelligence (AI) and machine learning (ML) is marked by remarkable advances and groundbreaking discoveries. From the first theoretical concepts to today’s applications in various fields, AI has become a fascinating and unstoppable field. This paper first examines the significant milestones and ..read more

  How AI and predictive sales software can help you sell more products and adjust your prices faster than your competitors. Congratulations! As a sales manager or managing director of a specialised wholesaler in Germany, you have made it this far – a year of intense competition, increasing customer demands and a market that is turning faster than ever before. The last year has not only made you older, but also wiser about the challenges and opportunities in wholesale. Perhaps you are one of the few who have sold more in 2023? But at what price? And what fixed costs do you have to bear fo ..read more

To further explore the potential of automating the B2B salesperson’s pricing decisions. You’ll learn the results of a field experiment conducted by Yael Karlinsky-Shichor (School of Business at Northeastern) and Oded Netzer (Columbia University) to explore “Who makes better pricing decisions in B2B settings – humans or machines?” We now know that algorithms and artificial intelligence are part of our daily lives. The general trust in systems like Google Maps is relatively high when looking at the number of users utilizing the platform. Nevertheless, it often happens that we see a route sugges ..read more

  “It is not because things are difficult that we do not dare. It is because we do not dare that they are difficult.” Lucius Annaeus Seneca, c.4 BC-c.65 AD. Some of Germany’s biggest B2B wholesalers have doubled their Return on Sales (ROS) after Corona, while others are struggling. Take, for example, the Würth Group, one of the biggest. Its Electrical Wholesale unit was particularly successful in 2022, reporting a growth of 25.0 per cent. Is it hard to increase ROS? If Würth could, why not you? In B2B wholesale distribution, sales managers and executives must increase their return on sal ..read more

  Algorithms – the word gets tossed around today for everything from your basic Instagram feed recommendations to complex interfaces like ChatGPT. But what are algorithms? Are they just for computers? How do they help you? In today’s article, we’ll explain what algorithms are and give some examples of how you can benefit from this ubiquitous but often-misunderstood technology. What are algorithms? An algorithm is a set of rules or instructions to follow that help to solve a problem or complete a task. While they are used in computers perhaps most notably today, the word has its origins b ..read more

  The importance of predictive sales software to address the skills shortage in Germany’s specialist wholesale sector. The shortage of skilled workers in Germany has reached alarming proportions and is particularly affecting the specialist wholesale trade. Sales managers and directors of specialist wholesalers in Germany are under great pressure as they face an acute shortage of skilled workers. This article explains the importance of using predictive sales software to identify the products with the highest likelihood of purchase per customer, to find the optimal final price for each cus ..read more

  With so many types of data analytics and analytical methods out there, many people are curious about the relationship between predictive analytics vs prescriptive analytics. Today, we’ll review all four types of analytics and delve into predictive and prescriptive analytics to help you understand when and how to use both. What are the 4 Types of Analytics? • Descriptive – This type of analytics tells you what happened. • Predictive – This type of analysis explains what might happen in the future. • Diagnostic – This type of analytics helps you understand why things happen. • Prescripti ..read more