whitepaper: leveraging big data in sales management

Leveraging Big Data

in Sales Management

Iconixx // Whitepaper // 02Leveraging Big Data in Sales Management

Contents

What is Big Data?

Big Data in the Workplace

Sales Performance Management and Big Data

From Data to Management Strategies

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Leveraging Big Data in Sales Management


Anyone who has read or seen business news in the past few

years has heard of big data. The phrase gets thrown around

in all kinds of contexts, from improving efficiency to making

the right hires. Big data is a term that covers any data set too

large and complex to work with or analyze through traditional

methods. Instead of manual techniques, it’s necessary to use

IT solutions to collect and leverage big data in any meaningful

way. Using big data in the workforce can transform the way

managers work with their employees and tailor incentive

compensation to specific salespeople.

While measuring the performance of workers is not a new

concept, big data has revolutionized the process. The

amount and detail of data it is possible to collect is now vast,

and all of this can be done inexpensively and unobtrusively

with the right tools.

Recent research that has used big data in the workplace

has yielded actionable insights based on key performance

What is Big Data?

Using big data in the workforce can transform the way managers work with their employees and tailor incentive compensation to specific salespeople.

Big Data in the Workplace

Leveraging Big Data in Sales Management


indicators. One study, for example, found that managers are

a critical part of shaping an employee’s work performance.

Another found an applicant’s work history doesn’t necessarily

predict his or her future behavior and productivity on the job.

Both of these studies challenge long-held ideas about how

the working world functions. However, both can also back up

their bold claims with hard data. This is immensely valuable

for everyone who cares about the future of work

and growing business.

Big data initiatives can and should measure a wide variety of

variables in work performance. Knowing which employees

are most productive is valuable, but it is even more useful if

a company can see which sales performance management

software the most productive workers use, how they structure

their days or what their backgrounds are. This type of

information allows companies to create policies that can

replicate the success of existing top performers.

For sales in particular, there are certain variables it is important

to measure with big data to effect meaningful change. The

key performance indicators in sales do not change appreciably

between companies, and include how quickly leads move

through the sales funnel, the time a salesperson spends

nurturing leads, how many sales each worker makes in a

Sales Performance Management

and Big Data

An applicant’s work history doesn’t necessarily predict his or her future behavior and productivity on the job.


certain time period, how many sales are made per number of

leads, which geographical areas yield the most sales and more.

Keeping track of key performance indicators requires an

automated solution that monitors massive amounts of data,

including sales effectiveness metrics, with ease. Attempting to

document each of these metrics on paper or in a spreadsheet

would add far too much work to a salesperson’s already

busy day, and would detract from the mission-critical work

of nurturing leads and closing sales. With the right software

solution, companies can keep up with these indicators in the

background, adding no work for salespeople or their managers.

Key performance indicators can tell companies which

salespeople are top performers. More than that, they

can show what top performers do differently than their

colleagues that allows them to surpass sales quotas. This may

include demonstrating the utility of a particular technique

or tool. Tracking performance over time can also show

how training initiatives and incentives impact performance,

pointing the way toward the best ways to improve

performance across departments. Furthermore, segmenting

data by location or department can show whether there may

be policies or people in place at a certain sales division that

seem to bolster performance.

Key performance indicators can tell companies which salespeople are top performers.


While big data is an amazing tool, it doesn’t replace talented

and dedicated managers. The best use of the information big

data can give sales departments is determined individually

by particular managers and other sales leaders. For example,

reports generated for specific employees can guide their

managers in how best to help them improve or to celebrate

their already high performance levels. Similarly, looking

at sales performance data across a department can give

managers a snapshot of their workers’ needs, skills and daily

work habits. Sales leaders can use the skills they already have

to zero in on areas for improvement and help lead employees

to higher levels of performance when they are armed with

detailed information about performance.

Sales departments also depend on incentive compensation

to keep their top performers working at their best and to

encourage others to attain high levels of performance. Using

big data to measure which incentives work best for specific

workers can make this structure of compensation even more

effective. Managers have the opportunity to determine who

will respond to bonuses, who would prefer an extra day of

time off and so on. Giving employees rewards to work for

that are motivational for them is powerful, as sales managers

already know - and with big data, it’s possible to identify

exactly which rewards employees care about.

Big data does not fundamentally alter a manager’s job but

instead makes him or her more effective and able to use his

or her time more wisely. Big data solutions support rather than

Giving employees rewards to work for that are motivational for them is powerful.

From Data to Management Strategies

3420 Executive Center Drive, STE 250 Austin, TX 78731 877-ICONIXX www.iconixx.com

Big data has the potential to radically change the future of

employee management and engagement. It’s not simply about

tracking data, but also means using insights gleaned from this

data to go beyond the quota and shape employee behavior

and performance. Iconixx makes it easy to to create effective

and optimal compensation management solutions - all without

creating extra work for sales leaders or their employees. The

easy-to-use, all-in-one Iconixx Compensation Management

Software allows managers to increase their workers’ motivation,

manage more effectively and fully align sales compensation

with business strategy.

1. nytimes.com/2013/04/21/technology/big-data-trying-to-build-better- workers.html?pagewanted=all&_r=0

2. humancapitalist.com/why-big-data-rules-when-managing-employees/

3. gadgets.ndtv.com/internet/features/information-overdrive-how-big-data-is- changing-business-534736?site=classic

4. inc.com/daniel-enthoven/how-big-data-will-reinvent-performance-management.html

5. nytimes.com/2013/04/21/technology/big-data-trying-to-build-better- workers.html?pagewanted=all&_r=0

6. forbes.com/sites/joshbersin/2013/02/17/bigdata-in-human-resources-talent- analytics-comes-of-age/

7. iconixx.com/why-big-data-is-changing-employee-retention-and-engagement/

8. newrepublic.com/article/118570/how-big-data-can-improve-people-

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