Over $1 trillion is allocated toward paying salespeople in North America every year, with decisions around it often driven by gut feel rather than hard data. This practice of "guesstimating," considering the stakes, is both risky and costly. Now is the time to shift towards a more data science-driven approach to Sales Performance Management. This session will introduce you to an approach that you can implement today, a powerful statistical model to add to your team's arsenal – the Monte-Carlo Simulation.

The Monte-Carlo Simulation helps you model the probability of different outcomes in a process that cannot easily be predicted. This session will provide an overview of the model, and unpack an actionable strategy using Monte-Carlo simulations to enhance decision-making and turbocharge your revenue.

You Will Learn:

• Introduction to Monte-Carlo Simulations: What is Monte-Carlo simulation analysis, and why is it essential for your sales comp toolkit?
• Application in Sales Compensation: Discover how Monte-Carlo simulations can help create more accurate budgets and forecasts in sales compensation.
• Building Your Simulation Model: Guidance on constructing a Monte-Carlo simulation for sales compensation budgeting.
• Benefits of Precision: Learn how enhanced budget accuracy can provide more flexibility in plan design and boost confidence in your decisions.

By joining, you will be well on your way to having the necessary tools to adopt a robust, data-centric approach to managing your sales compensation.

Sponsored by Forma.ai