Business intelligence not only offers a competitive advantage to companies, but its widespread adoption will put at risk those that do not implement BI as part of their strategy.
The data is a strategic asset for companies that, for years, exploit the information generated and transform it into valuable knowledge to improve decision-making processes. Thus, data of different nature are extracted, processed and stored in each department. In order to unify and take advantage of the potential of the information available within the organization, business intelligence (BI) offers multiple applications in each area of the company.
In recent years, the way to take advantage of data and transform it into useful information has improved dramatically. The evolution of business intelligence systems allows an advanced analysis of big data that facilitates the detection of failures and inefficiencies and the anticipation of market changes. In this sense, business intelligence not only offers a competitive advantage to companies, but its widespread adoption will put at risk those that do not implement BI as part of their strategy.
BI for marketing: applications and benefits
The use of business intelligence in marketing departments provides more complete, accurate and useful information about the clients (preferences, needs, purchasing habits, etc.) and their perception of the products or services (own and of the competition) to optimize campaigns and strategy. The BI transforms the data into information and information into knowledge to facilitate the understanding of the client and the detection of new opportunities.
Due to the high number of applications used in marketing (emailing, social networks, CRM, web analytics, etc.), one of the fundamental aspects of a good business intelligence system is its ability to integrate with other tools and unify all the information in a single platform. In this way it is possible to improve audience segmentation and design highly personalized content. With this, business intelligence allows to identify more accurately customer profiles to better study their behavior, adapt messages and actions, achieve greater loyalty and improve the return on investment.
Track campaigns in real time
Business intelligence converts marketing campaign data into useful information that can be visualized through interactive panels. This allows to quickly access all the results and analyze live the development of the actions. It provides a global vision that facilitates the adaptation of the different elements of the campaigns (texts, images, conditions, target audience, etc.) to optimize the marketing strategy and guide future activities. Therefore, this applies to campaigns of all kinds: it allows you to follow minute by minute the results of a mass email, a raffle on social networks, an ad on a web page, etc.
Greater control of ROI
By improving the monitoring of campaigns it is easier to detect which actions work and which do not and compare the results, which is essential to optimize the investment. Thus, it is possible to adjust your budgets and allocate more resources to what really offers a return. In addition, business intelligence provides reports with a level of depth that not only allows you to compare your revenues against actual costs, but also ROI according to customer segments, geographical areas, channels, etc. All this helps to make decisions instantly to obtain a better performance of the resources of the company.
Complete analysis of the market and the company
Through the BI systems updated data is sought on the evolution of the sector, the market share, the volume of products, the sales and the opinions of your company over time or in a specific period, this is what a helped a lot to the dentists in Tijuana incorporates this information to the reports and crosses it with other internal data to obtain a complete analysis with improved visibility of all aspects and help take the necessary corrective actions. This is the way to increase market share, track the opinion of customers in real time and discover new growth opportunities.