Within a sales team, keeping statistics allows you to know exactly what you are achieving with your efforts. And this, beyond giving you results, lets you know what aspects you need to improve in order to continue growing as a team. However, statistics go beyond data. Knowing how to interpret them is the key to taking action. That is why they are no longer used only to measure tasks; now, they offer you a series of qualitative elements that allow you to know the true performance of your work team and predict what your results will be. Aaron Rodriguez, an expert in business optimization strategies, explains why the sales department should not overlook statistics.
Statistics are considered a fundamental tool for society, more specifically for companies, when it comes to collecting, organizing, analyzing, and interpreting a set of data and from them to propose improvements in terms of management.
Statistics are not a game of dice. They do not consist of decisions or actions taken at random. On the contrary, they are determined and without them, companies would not be successful since they are the key means to carry out an action plan and require detailed thinking about their possible effects or consequences. For this, it is necessary to have data and measurement tools that are purely statistical in nature and that guarantee positive results in the future. In short, they allow you to evaluate the success of your business.
Among the great benefits that your company can obtain through the implementation of statistics, you can find the analysis of your company’s self-evaluation processes on a regular basis. Systematically follow up, monitor, and evaluate your business and projects. Easily identify and prioritize information for the execution of goals, plans, real projects, and objectives.
In administration, statistics is used to coordinate, evaluate and manage personnel, as well as products and services provided by the company. In finance, statistics are used to carry out processes of collection, analysis, classification, and interpretation of data. And from there, to make forecasts regarding the optimization and care of capital.
“Statistics serve in the accounting sector to analyze the results obtained from studies on the company’s economic operations,” Rodriguez explains. “And consequently, to guarantee long-term results and facilitate decision making.”
Statistics enable marketing teams to conduct studies on customers, products, and services. According to the results and statistical analysis of the data, an action plan is defined to improve the interests of the company and customers, through marketing strategies.
“It is important to determine the weak points of your team,” Rodriguez suggests. “Knowing where you are failing will allow you to attack the root of the problem and improve it. If you have a conversion funnel where you’re getting 50,000 people and you only close two at the end, there’s something wrong with the process. Determining the step-by-step of your tunnel and keeping a numerical control of each of those steps will be of interest to determine where you are failing.”
Free competition should also be enacted. It is not knowing who is better than who. It is knowing who is strong at X point and who is strong at another, to complement their work and achieve better results. In the end, it is not about a race. It is about sharing and encouraging everyone’s participation.
Do not hesitate to set realistic objectives. Many companies fail because they set surrealistic objectives that are not in line with the market or with what they have been achieving. Quantifying results will allow you to set objectives according to the group’s performance, and thus be able to encourage them to meet them in the best possible way.
“It is important to take statistical processes into account, to give relevance to research, data collection, and to know how to classify and interpret them. And, based on this, to continue improving. Any company that has good statistical control of its data and is able to use them to continue growing obtains better results,” Rodriguez points out.
Remember that what is not measured cannot be improved and in this era, you can find endless digital solutions (other than Excel) that allow you to visualize your metrics in real-time. This will help you save time, since you will not need mathematical formulas, or train for several hours, but with the help of artificial intelligence, you can have a 360º view of what is happening with your business.