The four stages any entrepreneur goes through   

The four stages any entrepreneur goes through   

Running a business is not something easy to do and while some people manage to succeed although they do not have a lot of experience, others may fail even if they are More »

Steps to starting a small business

Steps to starting a small business

If you are interested in setting up your own business, then there are a few important steps to follow in the process. Because the business world is highly competitive, it is more More »

Keeping your social media fans engaged – how to attract new followers

Keeping your social media fans engaged – how to attract new followers

Considering that social media marketing is more popular than ever and can have a very important influence on the success of a company, managers will need to always be careful with their More »

 

Incredible ways business intelligence can help your organization

The idea of business intelligence was born out of the need to support existing systems. It dates back to the 1960s. Business intelligence encompasses a set of processes, architectures, and technologies that are capable of transforming raw data into meaningful information, which can be used for business purposes. Analyzing data can help your company in many ways. This is a world in which firms generate, collect, and store huge chunks of data on a daily basis. Needless to say, data analysis and business intelligence can come in handy. Keep on reading to discover the measurable benefits.

Calculate the ROI of a marketing strategy

The importance of the return on the investment when it comes to marketing is undeniable. You need to have a clear picture of the effectiveness of your efforts. Was the money well-spent? If you want to know how your marketing is doing, make use of business intelligence solutions. The market is full of applications, social media platforms, and analytics tools. So, why not? With an analytics tool, you can see how many people are visiting your website, where they come from, and which marketing tactics drive the most traffic. A business intelligence solution is able to produce several reports, letting you know what is working and what is not. You can use the results in terms of produktutvikling – in other words, you can figure out what to do next.

Understand your customers better

If you want to get new customers, improve the experience of the existing customers with your brand. The biggest challenge, to begin with, is the lack of a deep understanding of the customer. If customer insights are what you are looking for, embrace the use of business analytics. Data coming from CRM or social media campaigns will help you understand what people are interested in, what they want, what catches your attention. You can use this kind of information if you, say, resort to programvareutvikling. The ability to understand customers’ needs is power. You have a good view of their interactions on websites, social networking platforms, live chat tools, email, etc. If in the past it was not possible to manage so much information, now it is a completely different story. Thanks to advancements in technology, it is possible to find the best ways to improve customer experience and advertise products.

Build a brand in a highly competitive market

Building brand identity in a competitive marketplace seems like an impossible mission. Just so you know, it is not that difficult to make a name for yourself. If you are not willing to join forces with the competition, start using business intelligence tools. You can identify trends in a timely manner, devise better customer support strategies, and Smidig utvikling. That data you collect will help you identify the best ways to grow your business, such as cross-promotion or implementing additional product categories. A business intelligence solution provides all the tools you need to succeed. You get many free tools, such as CRM, project management, document management, business process automation, and more.