Business Intelligence in Marketing

Business Intelligence in Marketing

Business intelligence tools help marketers a great deal with their marketing efforts. When business intelligence tools are unified and used by marketers, marketing campaigns are more effective.

Application of Business Intelligence in Marketing

Predictive Analytics

Predictive Analytics and other big data tools have changed the way different organizations analyze and harness data. Predictive analytics uncover data that reveal future trends. It finds patterns in the huge amount of data. The information provided by predictive analytics help businesses in creating better marketing campaigns by forecasting trends. It helps in analyzing the past behaviour of the customers to draft the best message for them. With the rise of AI and predictive analytics, the art of marketing has just got better.

Most brands, businesses, entrepreneurs, and owners alike understand how important it is to have a web presence for their company. However, they fail to understand the importance of capturing, analyzing, conceptualizing, and then closing on the traffic they receive. Splash BI gives an efficient understanding of the business and offers a strong relationship to the intelligence already in place or a solution for businesses that don't have any BI software yet.

Splash BI offers solutions that help in:

• Determining the upcoming budget
• Discovering actionable analytics for your organization
• Campaign planning
• Budget analysis
• Sales and marketing resource management
• Combining the data for use in your existing business intelligence (BI) applications
• According to a study at McKinsey Global Institute, Data-driven companies are 23 times more likely to acquire customers, 6 times likely to retain customers, and 19 times as likely to be profitable as a result.

63% of marketing professionals say that big data/analytics functionality would be critical to enhancing customer experience in their company.

Technology Integration

When customers use business intelligence tools for marketing, they create a fully integrated marketing approach. Customers use all available channels and resources to research and discuss a product or service to make their decision on whether to buy. Therefore, marketers must integrate data from all available platforms to design the best interactions. Integrating marketing technology is the best way to convey a unified message throughout a customer's experience with your company. Unifying the message throughout a customer's journey is important to offer a seamless customer experience. This can be achieved by integrating real-time data to personalize customer responses. When marketing technologies are integrated, companies provide their customers with consistent messages across all platforms, ensuring the brand to stick out in the customer's mind.

Social Analytics

These tools gather information from user conversations and actions across all online platforms. Social analytics offers marketing departments insight into customer behavior and thought processes. These analytics examine statistics of page browsing and social media. Web analytics offer marketers data on which parts of their site, links and ads that lead customers to their site are more successful. This data allows marketers to make a better decision when it comes to the content and messages on their site.

Social media analytics offer marketers unique insights into the hearts and minds of their customers. This insight allows companies to learn more about their target audience and improves their ability to engage with their customers. Social media analytics offers actionable insight like campaign tracking. Campaign tracking judges the performance of a campaign and determines the factors that impact the performance of the campaign. Social analytics foster an intimate understanding of customer opinions which is important for enhancing engagement, campaign strategies, and monitoring performance.

Customer Data

When all customer data is gathered together, it can be used to make more informed marketing decisions. When companies have more accurate data, they can engage with their customers better. Therefore, unified customer data is important. When customer data isn't unified, marketers communicate inaccurate, out-of-date messages to their customers and don't take advantage of all the data at their disposal.

Business intelligence tools draw data from multiple areas together and organize that data into a unified format. This data provides insight into customers and where the data came from, allowing marketers to know where each customer engages from. These tools provide the most effective business intelligence for marketing and sales. The role of business intelligence in marketing allows companies to make better, more informed marketing decisions.

Author: Justin Jacob