Business intelligence in marketing is a term that is often thrown around in business circles, but what is it exactly? And more importantly, how can it benefit your ecommerce website? In short, business intelligence is the process of turning data into insights that help you make better decisions. By making use of BI, you can gain a competitive edge, improve customer satisfaction, and boost your bottom line.
What are the advantages of business intelligence in marketing?
There are many ways in which business intelligence can benefit your ecommerce website and at BROOBE we would love to give you an overview.
Firstly, Business Intelligence gives you the ability to track key metrics and KPIs so that you can see how your business is performing in real-time. This information can be used to spot early signs of trouble so that you can make course corrections before it’s too late. It also allows you to benchmark your performance against that of your competitors so that you can adjust your strategy accordingly.
Also, BI tools make it easy to share data across departments so that everybody is working with the latest information. This improved communication will help ensure that everyone is on the same page and working towards common goals.
There are many different business intelligence tools available on the market today, so finding one that meets your specific needs shouldn’t be difficult. And thanks to advances in technology, most BI tools are easy to set up and use – even if you don’t have any prior experience with them.
Business Intelligence tools
Let’s take a look at the 5 most used tools:
Calendar offers productivity analytics. It has a number of features designed to analyze how your team’s time is being spent. This will allow you to identify key areas where your schedule could be improved.
This tool will keep up with marketing analytics in one place. This is a dashboard that provides a clear view of your campaign’s KPI data. You can access quick metrics and reports from your dashboard.
Raven Tools offers SEO analysis, social media engagement, funnel performance tracking, and competitor comparison (whether it’s large-scale analysis like domain authority or small-scale comparisons of site functionality). Besides, the drag-and-drop editor and report builder make it easy to create professional-marketing reports.
This tool will allow you to combine marketing data from different sources, such as Google Analytics, Facebook Ads, Adwords and others in Megalytic (and it can even process and report data stored in CSV files). Si if you want to gather a lot of data in one place, Megalytic is a smart choice.
Klipfolio is ideal for making sure your reports can be easily read and accessed across multiple technologies, as well as through the tool’s dashboard that updates in real time.
Impact of BI on performance and results
By making better use of data, improving efficiency, and staying ahead of the competition, business intelligence can help you save time and money while powering your company’s results.
Collecting data is only half the job– the real challenge is making sense of it all. BI tools make it easy to slice and dice data so that you can identify patterns, correlations, and trends that would otherwise be hidden in mountains of raw data.
With business intelligence, you can make data-driven decisions that are based on hard facts rather than gut feelings. This information can help you optimize your marketing campaigns, understand what products are selling well (and which ones aren’t), and make other decisions that will help your business grow.
Sales and marketing benefits
BI is also very important for both sales and marketing teams as it can help you track customer behavior and identify trends. This information can be used to improve the overall customer experience on your website, target specific demographics with marketing campaigns, and develop new products or services that address unmet customer needs.
By automating repetitive tasks and visualizing data in an easy-to-understand format, BI tools can help you and your team work smarter, not harder. By freeing up time and resources, you’ll be able to focus on more important tasks that will help grow your business.
We will also be able to collect demographic data from our users that will allow us to have an overview of their buying patterns, preferred products, age, location, gender and more. In this way, we will be able to think of different strategies that suit their interests and needs.
All this marketing data can be easily processed into reports, graphs and infographics. When it comes to urgent decisions, you need to be able to present the insights gained quickly and efficiently.
If you have to spend days reviewing complex and unclear reports, those are valuable days lost to more effective competitors.
We have solutions
There are many benefits to using business intelligence for your ecommerce website. If you’re not already using BI tools, now is the time to start. With BI you’ll be able to make better decisions, understand your customers better, boost efficiency and productivity, stay one step ahead of the competition, make better use of data , save time and money, improve communication, and get started quickly and easily. Contact us and we’ll help you take your ecommerce site to the next level!