Business intelligence and marketing analytics aren’t new concepts, with businesses using data to inform their next courses of action for decades.
Business intelligence (BI) is quickly being integrated by companies across the globe as a means to identify new markets, refine product selection, improve engagement initiatives and streamline operations amongst other things.
The use of business intelligence (BI) has quickly become the strategic plan du jour, with companies across North America spending their precious budgets on BI programs.
The benefits of business intelligence (BI) are well known, and as a result, a growing number of organizations are implementing analytics and metrics into every process and decision made.
When entrepreneurs hear the world “business intelligence,” the first thing that may spring to mind is an expansive database of data and metrics collected from hundreds of different areas.
Data is everywhere. Just about everything customers do nowadays can be recorded, tracked, filtered and used for reports or studies.
If entrepreneurs are running a small business or a young startup, they may be familiar with business intelligence (BI) but not with what it’s used for or what it could mean to their company.
Business intelligence is a staple of today’s business world.
In the past, many business decisions were made based on gut feelings. Without computer technology, it was difficult to put together relevant and timely reports that could be quickly analyzed and acted on.
Business intelligence is something that a number of corporation owners have looked into but not expressly sought out over the past few years.