In this digital era, marketing business has touched the sky in a very short span of time. And with the growing technology, many businesses use various technologies to make their business successful in the market. But by using technologies do businesses really get success? It becomes a question. And the answer is NO. Because the main thing of any business is to know first about the trending products, second its customers, third is how to increase sale. All these queries can be solved through BI (Business intelligence).
In this article, you will learn about what ‘Business Intelligence’ is and how it can help you to understand your entire business structure. So let’s make a jump into basics first.
What is Business Intelligence?
Business intelligence is a tool that allows people or businesses to gain insight into key marketing questions such as, who are my best customers, how can I increase my sale through new opportunities, or what products are trending now, etc. Basically, Business intelligence helps companies to understand their entire business concept from stating to the end. Business intelligence enables you to find out the right information, to the right person, at the right place to help and improve informed the decision making in order to solve the queries you are facing regarding business.
Furthermore, Business Intelligence helps you in collecting data such as monthly data pertaining to profit & loss, pricing, revenue generated, etc. It is a holistic approach to analyze a variety of business data, internal or external to help the entrepreneurs to take optimal decisions related to process, products, innovation, and goal-setting, etc.
I am going to highlight some best business intelligence tools that should be considered by digital marketing specialist to get them in their marketing business.
- Hot Jar Actionable Customer Intelligence
- Funnel Marketing Data, Analytics, and Reporting.
- Dextra and Looker
- SAS Customer Intelligence 360 Customers Insight & Engagement
- SEM Rush SEO, Competitor Evolution
There are a wealth of business intelligence tools are available to digital marketers. But you cannot rely on 100%.
Now let’s try and understand the role played by Business Intelligence in Digital Marketing!
Major Roles of Business Intelligence in Digital Marketing.
In digital marketing, Business Intelligence helps you in quickly analyze your data & give solution to make the better decision making.
- BI provides you more complete data of your customers by analyzing their interest, likes, engagement, and comments on social media.
- Business intelligence gives businesses a complete picture of their customers. Some BI tools give insight into customer’s behavior that makes marketing much more effective for businesses.
- Business intelligence helps the digital marketer to easily extract and configure data from many online sources thereby it replaces the guesswork that earlier was needed.
- As digital marketing quickly gets outdated. BI can provide real-time analytics to marketers to improve their costs and marketing performance. Marketers can also use Real-time analytics to develop content that appeals to their brand audience.
- Business intelligence also helps marketers in their cost reduction. Because BI tools automatically eliminate costs associated with data collection, report generation, and programming.
- Business intelligence helps marketers to increase productivity by providing them job-specific information, and informing them about business decisions thereby saves time too.
- BI also provides better user experience in digital marketing. As employees can easily personalize their work style and can gain clear-cut information for more productive decision making.
In a nutshell, the sole purpose or role of Business Intelligence in digital marketing is to support better in business decision making. For more updates kindly get in touch with us.