Sales Down, Data [Up]sessed?
There’s a fascinating thing that happens when sales slow down. People become obsessed with data and analyzing it. People come out of the woodwork for it, spending hours-upon-hours pulling reports and attempting to glean insights from them.
The cause? Pressure.
When there’s an insane amount of pressure to outperform the market, people become desperate for actionable insights. Insights that would have been helpful long before the fire alarm sounded but their absence went unnoticed when there wasn’t the pressure to be as reliant on data.
At Revenue Analytics, we love any excuse to lean into the latest and greatest AI. We asked the opinion of ChatGPT, the revolutionary AI Chatbot: “Why do people start obsessing over data when sales slow down?”
“When sales slow down, people may become more focused on data as a way to understand why this is happening and to identify potential solutions. Data can provide insights into the market, customer behavior, and the effectiveness of sales and marketing strategies, which can help businesses make informed decisions about how to improve their performance. Additionally, data can help businesses identify trends and patterns that may indicate potential opportunities for growth. In this way, data can be a valuable tool for businesses to use when trying to navigate a slow-down in sales.”
^^PS - That’s impressive, ChatGPT.
ChatGPT's theory is sound. But there's one big problem – not all broadcasters have invested in new technology that makes it easy to access and get actionable insights from data. Instead, they’re stuck using decades-old traffic systems as their primary data source. This means many hours are frustratingly wasted manually pulling data, leaving little time and energy available to analyze it.
Here’s the good news: RateOptics is here to make Broadcasters better and faster. It’s the industry-leading revenue management and sales analytics tool that is easy to use yet exceptionally powerful thanks to the insights it provides. It not only satisfies that newfound “obsession” with data, but also systematically engrains data into your day-to-day processes and overarching strategy, ensuring data isn’t just an “in the moment fad,” but something you will rely on for years to come.
The need to make data-driven decisions isn’t going away. It’s an essential part of today’s business. After all, it is 2023, where AI & machine learning reign. It’s time to get out of the monotony of pulling reports from traffic and arm yourself with a powerful tool that will give you a competitive advantage regardless of the market conditions.
Ready? Let’s talk. Book a time here to see how RateOptics can change how you do business.