COVID-19 is sticking around for the long haul. At a minimum, the pandemic’s economic impact is projected to slow down global GDP growth throughout Q1 and Q2, while some are even anticipating a mid-year contraction. McKinsey & Company’s latest update predicts a serious economic fallout that will last for different lengths of time depending on industry:
Two types of critical decisions
During this time of crisis, senior executives need to be thoughtful as they make critical decisions on their organizations’ staffing levels, sales management, marketing spend controls, supply chain management and financing. Essentially, you can divide these choices into two main buckets:
- 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
Here’s where AI comes to the rescue. Instead of making decisions based on emotions or guesswork, predictive analytics can facilitate data-based, objective decision-making. The decisions you make now will drive your business performance well beyond 2020. To give your organization the best chance of survival and success in this climate, you need to harness the power of AI to make sure you get things right.
How we’re using AI at Horizontal
At Horizontal Digital, we’ve developed a “Win-Ability” prediction model on the Salesforce Einstein AI platform to drive sales management. Our sister company, Horizontal Talent, is using this model to predict which deals have the greatest likelihood of closing.
Our Win-Ability model utilizes Einstein’s auto-machine learning capabilities to build a predictive model based on historical data trends. Strategizing with the Horizontal Talent Executive team we identified the key types of indicators that lead to success in the field. Next, we ran the numbers to determine the correct fields and data to use in the predictive model. The resulting model now accurately predicts how likely sales people are to close a deal or win an opportunity.
Equipped with the Win-Ability tool, Horizontal Talent leadership can focus sales resources on the right deals to drive revenue. In addition, they can leverage insights from the tool to target inside sales and marketing efforts on second tier opportunities in the pipeline.
How we’re using AI to support our clients
Beyond internal use cases, we’re also implementing predictive analytics for several of our clients. For example, an agriculture and food conglomerate with operations in more than 70 countries is using the Horizontal Win-Ability model to guide operations decisions with data-driven AI predictions.
This client can predict whether a project is likely to be technically feasible with around 90% accuracy. Our model examines thousands of previous projects from 20 years 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.
How AI could support your organization
Are you 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. Want to learn more about Horizontal Digital’s AI capabilities? Reach out to our team to schedule your consultation.