Business intelligence (BI) is a collection of procedures and tools used to extract useful information from unprocessed business data.
Various organizational functions (including marketing and sales) can use this valuable information to enhance corporate decisions and actions.
Some business positive effects of business intelligence that demonstrate its significance for organizations are:

• Leverage useful data, to manage your sales/marketing operations and uncover sales opportunities.
• Improve overall organizational efficiency, by sharing information that can increase productivity and save time.
• Develop products or services that are in line with current consumption trends by analyzing customer purchasing trends.
• Provide insight into the market's top-selling products or improve low-selling products.
• Improve sales and conversion rates, using your organization CRM tool and analysis of customer engagement levels.
• Future-proof your marketing strategies after gathering competitive intelligence through marketing insights employed by your rivals.

Businesses that employ business intelligence solutions have a structured data source that allows them to extract the most knowledge possible from a sea of business data. This may contain data that is focused on the needs of the customer and gathered from many data sources such as the CRM tool, social media websites, online user interactions, and email marketing.
Business leaders frequently conflate the advantages of BI with those of business analytics, which are all about process management. Business intelligence, on the other hand, is a potent reporting tool that has the potential to transform businesses of all sizes.

Business Intelligence in Marketing

How does business intelligence play an important role in all marketing activities?

Ask the proper marketing question :

Finding useful insights from the vast amounts of data that businesses are producing can be quite difficult. BI tools can assist in defining the BI measurements and KPIs that are most pertinent to your company goal and in putting the appropriate queries to the big dataset.

Choose the appropriate demographics to target. :

Any marketing campaign's success hinges on its ability to reach the appropriate consumer with the appropriate message at the appropriate moment.
Effective business intelligence (BI) systems can gather consumer demographic data from a range of online platforms, give an overview of their age group, buying behaviors, favorite products, and more, allowing businesses to make more informed decisions.

Streamline marketing and financial reports :

Businesses that rely on real-time data gathered from many sources must produce actionable insights in order to maximize the value of the data.
Marketing teams that spend days poring over non-standard financial reports are likely to lose clients to more effective competitors. A business could increase its client retention rate by using business intelligence in sales and marketing to generate reports in a couple of hours rather than days.

Business Intelligence in Sales

in today's competitive business environment, Sales data enabled by BI may assist businesses increase their market share, sales performance and revenues.
Making timely responses or delivery and keeping track of each customer's sales data could be very difficult. Your customer service will undoubtedly improve by employing business intelligence to give your sales representatives the most recent data and quick support.
Here are some examples of using a good business intelligence strategy for the sales function:

Increase sales to current consumers :

Customer retention (or selling to existing clients) is more profitable and cost-effective than acquiring new consumers (or selling to new customers).
Business intelligence solutions can assist salespeople in tracking what their current clients are buying (or not) to make targeted and specific sales campaigns and offers.

Make your sales forecast more accurate :

With a variety of advantages like order fulfillment, reduced inventory costs, and increased profitability, accurate sales projections continue to have a high business value.
Business intelligence can improve the speed and accuracy of sales forecasts after accommodating information based on product demands, promotional campaigns, and other key factors.
The availability of sales history data can increase forecasting accuracy levels, resulting in additional advantages including on-time purchases, accurate revenue forecasts, and effective inventory management.

Measure the success of your promotional campaign :

Product companies may maximize their income from each dollar spent on marketing or advertising efforts by using BI.
When you employ business intelligence tools for sales and marketing, you can track how customers are responding to your sales efforts and devote more money (or resources) to the ones that are working well.
Making accurate sales predictions, analyzing consumer behavior, and choosing the best sales and marketing channels, benefit greatly from an effective use of business intelligence.

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