[Blog] - Role of Salesforce Einstein Analytics in improving ROI for Pharma Industry
Salesforce is one of the most popular CRM Tools that is there in the market currently. As many as 150,000 customers all over the world leverage Salesforce to drive their Sales, Service and Marketing. It has been ranked #1 for CRM Applications based on IDC 2019 Revenue Market Share Worldwide. In 2018 Salesforce dominated the worldwide CRM market with a 19.5% market, over double its nearest rival, SAP, at 8.3% share.
However, this is not a blog, where I will be doling out benefits of Salesforce CRM. We will in fact scratch a little beneath the surface and take a more realistic approach at what is the ROI in Salesforce Investment.
To achieve a strong ROI with Salesforce in terms of profits, businesses must consider multiple factors. The first being that choosing the right CRM and implementing it correctly. This involves hiring an implementation partner who has the desired capability and experience to conduct a robust requirements process, develop a training plan, help with adoption coaching and engineer business processes. The second and equally important factor is the ability to understand what to do with the data and dashboards that are now in your system. Even if you have all kinds of great data on your prospective customer, it still takes comprehensive Data Analytics to make sense of this data. Without efficient analytics, your CRM Data will only collect dust in a corner. Assuming that you have taken note and correctly followed point one; to truly achieve a positive ROI business needs to be able to perform comprehensive analytics on their data. They need to take analytics backed decisions so that sales go up thus improving ROI on Salesforce.
Why Einstein Analytics?
In order to gain deep insights from the extensive CRM Data businesses need an efficient analytics tool. Einstein Analytics meets this requirement to the “T”. It is an app used to visualize the activity occurring in your Salesforce environment. Whether you use Salesforce for Sales, Marketing, or Service, this visibility tool offers insights into the data (like contacts, campaigns, or accounts) your users add to the CRM every day. Salesforce markets the tool as an “AI-powered advanced analytics” solution that includes reports and dashboards, graphs, and other data visualization opportunities to help you make sense of how users are using Salesforce.
Einstein Analytics can be directly connected to CRM data to generate dashboards and reports. Salesforce notes that you don’t have to limit yourself to Salesforce to use Einstein – you can connect other CRMs and use it for overall business intelligence. The tool’s insights are intended to offer users easy access to potential business opportunities and other areas of growth that help organizations thrive.
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