Business
Intelligence and analytics is the reliable answer to position a company in its
respective field of activity, whatever the segment in which it operates. It
works as a kind of “map”, safely driving a business towards its goals. Do you
want to know how to apply this strategy in your daily life? So, read on
and discover how smart businesses thrive in their activities.
What is business intelligence?
Business
Intelligence, by definition, is the set of measures, techniques and tools used
for decision making in a productive activity. After all, intelligence is
synonymous with dexterity, discernment and lucidity. Therefore, companies
that are guided in this way tend to perceive more expressive results. But the
advantages go beyond, as we will now highlight.
Why should a company invest in business
intelligence?
Whatever
your niche, one thing is certain: by investing in Business Intelligence and
analytics, your company puts itself in a better position with customers and
competitors. This is a fundamental investment for the success of a business, as
it allows you to overcome challenges and offer products and services with
greater acceptance. There are also many other good reasons to develop strategy
in your company.
Improve analysis accuracy
Depending
on the industry, it can be challenging to do market analysis, even with a lot
of data available. For example, how do you find the right audience for
inventory management software, as well as predictable sales processes for a
product that requires high specialization in some cases? In this respect, the
more developed the Business Intelligence, the more accurate its analysis will
be.
Increase productivity
Being
smart in business means knowing what, how, when, where and why to do it. It is
to light up paths that were previously occupied by darkness and thus prevented
people from moving forward. By using intelligence to guide activities, teams
are able to produce more, as they will have much greater clarity about their
own tasks and roles.
Optimize resources
Decisions
made at random or based on guesswork are risky because, in the end, they can
only serve to throw money away. With intelligence applied to business, your
company will be able to draw up leaner budgets that will only allocate the
resources that are really necessary for an action.
Increase the scope of actions
Imagine
that your goal is to make the brand known in a certain region. How to do this,
considering the limitations in terms of people, materials and resources? The
answer lies in Business Intelligence and analytics,
which has always been the best alternative to help companies do more with less.
Make better decisions
It
is common to associate Business Intelligence with decision-making processes. And
it's not by chance, since it's the foundation on which all business resolutions
must be grounded.
Marketing
Another
area that uses this technique to guide its actions is marketing, which is
dependent on sales. A practical example of the application of Business
Intelligence in this segment is when a company uses analytical
solutions to define strategies for production and dissemination of content
on the web.
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