Learn about Business Intelligence and how it can help your company
Business Intelligence is the technical infrastructure that collects, stores, and analyzes the data created as the result of a company activity.
It is a wide term that implies multiple aspects, like data mining, data analysis, predictive analysis, etc.
All the companies are using business intelligence one way or another, even if they're not aware of it. Even the most simple and small companies generate some data, and usually store it somewhere, which means that they're involved in business intelligence. However, not all companies are taking full advantage of it and using it to their benefit.
Having the right business processes is important as it allows the company to make data-driven decisions and achieve its goals faster and very often cheaper.
Business Intelligence has a wide range of use cases and it can help companies in a lot of different ways. We'll cover just a few ways of using business intelligence.
By collecting all the sales data into a single place, and analyzing it, organizations can dive deeper into their sales processes, find out which products sell best, or what type of customers are more likely to purchase their products, as well as see the regions that are more likely to generate sales
By tracking the marketing efforts, like traffic, visitors, and purchases across different campaigns, companies can focus their efforts on the marketing channels that work best in order to maximize their marketing returns.
Making sure that the customer is always happy is key to a company's success. Business intelligence can help a company learn more about its customers and improve their satisfaction. By analyzing their customer behavior, as well as how the customers use the company products or simply analyzing their most successful customers, companies can fix their processes or improve their products to deliver a better experience.
Other use cases include, but are not limited to:
