What is closure rate in SAP CRM-IC-RTD - Real-Time Decisioning?

SAP Term: closure rate

• Component: CRM-IC-RTD

• Component Name: Real-Time Decisioning

• Description: Of all sessions where real-time offers are made to the customers, the closure rate is the percentage of sessions in which the real-time offers have been accepted by the customer.

Smart SAP Assistant

• Key Concepts: 
  Closure rate is a metric used to measure the success of a sales team in closing deals. It is calculated by dividing the total number of closed deals by the total number of opportunities. This metric is used to evaluate the effectiveness of a sales team and to identify areas for improvement.
  
  How to use it: 
  The closure rate can be used to measure the success of a sales team in closing deals. It can be used to identify areas for improvement and to set goals for the team. The closure rate can also be used to compare different sales teams and to track progress over time.
  
  Tips & Tricks: 
  When calculating the closure rate, it is important to consider the quality of the deals that are being closed. A high closure rate may not necessarily indicate success if the deals are not profitable or do not meet customer needs. It is also important to consider other factors such as customer satisfaction and customer retention when evaluating the success of a sales team.
  
  Related Information: 
  The CRM-IC-RTD Real-Time Decisioning component of SAP provides tools for analyzing customer data and making real-time decisions about customer interactions. This component can be used to improve customer service, increase sales, and optimize marketing campaigns. It can also be used to analyze customer data and identify areas for improvement in order to increase the closure rate.