Advances in Economics and Business Vol. 5(5), pp. 239 - 245
DOI: 10.13189/aeb.2017.050501
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ESCORT (Enterprise Services Cross-sell Optimization Using Rigorous Tests of Association)


Nishant Saxena *
Hewlett Packard Enterprise, India

ABSTRACT

Cross Selling has been used successfully by many organizations historically. The core idea behind cross selling is the consumer behavior of buying a product or service along with another product or service; which he or she may not have bought otherwise. Traditionally cross selling has been done using the gut feeling and common sense. With advent of statistic many organizations in retail industry started using analytical methods to identify cross sell opportunities. The key to their success was predominantly the robust historical sales database built over time and the option to choose from endless permutations and combinations of products which they could sell. But the enterprise or B2B businesses, especially in services industry, have not been so lucky; as the biggest challenge for them has been the lack of sufficient data and the high price of enterprise service offerings. We would like to share through this paper that how we succeeded in solving these problems and how one can apply market basket analysis on their sales pipeline data to not only improve revenue but to also cut down the operating cost. We strongly believe that this approach could be very useful for a lot of B2B organizations in the services industry with multiple offerings and limited budget to pursue all possible cross sell opportunities.

KEYWORDS
Cross Sell, Optimization, Sales Pipeline, Association Rules, Apriori Algorithm, Test of Association, Sales Lead Generation

Cite this paper
Nishant Saxena . "ESCORT (Enterprise Services Cross-sell Optimization Using Rigorous Tests of Association)." Advances in Economics and Business 5.5 (2017) 239 - 245. doi: 10.13189/aeb.2017.050501.