What is business intelligence, and why is it so important now, given our current market environment? To explore this topic more deeply, we asked thought leaders, executives, and consultants to share their insights. These industry experts touch on a variety of compelling benefits that stretch across different business functions — from marketing to sales to customer service. Here are ten ways business intelligence can enhance your organization and help decision makers make more informed, effective choices.
1. Determine the ROI of your marketing strategy.
"In a market saturated with apps, social media platforms, analytics tools, and pay-per-click campaigns, business intelligence is crucial in helping small businesses figure out if the marketing strategy they've invested in is producing ROI (return on investment). Business intelligence can translate into analytics reports where businesses can base decisions on solid research, data, and facts, rather than intuition, assumption, or gut instinct. How do you know something is working? Reports can tell you a much bigger story than you could imagine."