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How CPQ analytics can improve product development

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One interesting aspect of an implemented CPQ solution is the possibility to analyze sales in a new way.

Traditional sales statistics answers the question what has been sold. This is somewhat interesting but normally it doesn’t bring very much new insight to the table.

With clever BI-tools (like Tableau or QlikView) it’s possible to slice the data in a way that will give you a better understanding on what’s tending and who is really doing profitable sales. But this still doesn’t answer the big question… With ordinary sales statistics one can tell WHAT is selling, but it doesn’t answer the question WHY?

A CPQ solution makes it possible to keep track of all quotations. This opens up for analysis where one can compare successful quotes with the less successful. This type of analysis will give concrete measures on what products that has been offered and make it possible to compare it what has actually been sold.

The analysis gives the possibility to reduce the product portfolio based on what has been part of actual quotations and if it has been sold. This gives a rating per sub-component whether a certain product is providing adequate value on the market.

The analysis also answers the question where there is possibility for new business. By understanding the type of deals that are refused by customers gives great input for product development.

This video (found on the Tacton Youtube-channel) introduces the concept of CPQ analysis.

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