Using Business Intelligence and Big Data to Improve Marketing Efforts
If your company can make heads and tails of your business data, you’re ahead of the game. For the majority of businesses, understanding the data gleaned from business intelligence (BI) tools and putting it into action can be a challenging undertaking. The emergence of Big Data has made it even more difficult for businesses to take action on data. With so much data coming in from a variety of sources, many businesses are drowning in information and have no clue how to act upon the information they do have. If your company is overwhelmed by the amount of data you have to sift through on a daily basis, business intelligence can help.
Business intelligence tools can help you rein in the Big Data stemming from a variety of sources so you can gain actionable insight to improve your business. BI tools empower your company’s decision makers and gives you the answers you need to begin moving in the right direction. Ten years ago, marketers did not need to develop a complicated marketing strategy involving email, social media, and mobile ventures that were personalized for each person who interacts with your company. However, the tide in buying habits has changed and consumers are interacting with companies in a variety of ways. While this could be a good thing for business (consumers can find your products and services much faster than before), it can also complicate how you market to those consumers, particularly the ones who’ve already purchased your product.
Knowing how to harness the data your company collects on a daily basis to measure the effectiveness of your marketing initiatives is crucial. You can glean valuable insight from Big Data – you just have to know how to use it to make improvements.
The Importance of Using Technology to Manage Big Data
The key to successful marketing campaigns is in the evaluating. Examining the success of your lead generation efforts on a variety of different platforms is essential. While this may not seem too complicated of a task, many companies have struggled with this very thing. In fact, according to a recent survey of chief marketing officers, 85% of respondents were not able to carry out strong marketing initiatives due to the lack of tools and technology, while 82% lacked solutions capable of measuring their performance.
This survey clearly shows that marketers must take the initiative to manage Big Data and use business intelligence tools to gain actionable insight. Without this insight, marketers will not be able to carry out omnichannel marketing campaigns. Finding ways to leverage business data in an effective and actionable way should be the marketing department’s top priority.
If your marketing efforts are going to pay off, you must set yourself up for success now by investing in the technology that enables you to isolate actionable insights from Big Data. Business intelligence tools can help you get the most out of Big Data so you can prepare for a successful future. They can provide you with insight into your operational and sales data, allowing you to easily identify negative trends or opportunities before it’s too late. With the right business intelligence solution, your company can be proactive about improving your operational efficiency and earnings. If you’d like to learn more about how our business intelligence solutions can help you leverage your business data and make sense of Big Data, contact us today.
To learn more about leveraging technology to gain actionable insight from your data, download our whitepaper, “Driving SMB Efficiency with Business Intelligence”. This resource is packed full of important tips to help your business drive efficiency using business intelligence software.