As the amount of data available for analysis continues to rise exponentially, marketers must use sophisticated tools to make informed decisions. That’s why more and more marketers are turning to business intelligence. With the help of the latest business intelligence tools, marketers can analyze a large amount of information in minutes and turn it into a comprehensive and easy-to-understand report.
Before the digital age, marketers had few sources of information. Most sources of information lack the ability to provide important insights into marketing activities. Sometimes companies have to rely on their own intuition or guesswork to execute pr campaigns, which has proved helpful in a few cases, but not always. As a result, most marketers experience temporary changes when they use market research and analysis. In the digital world, however, business intelligence has replaced hard factual speculation.
Real-time analysis of data is critical to continuously monitor a company’s marketing activities, as new data will continue to pour in. In the digital world, where even a week’s data will become obsolete, real-time analysis allows marketers to process it in the right time, improve marketing performance, and optimize costs.
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Business intelligence can collect all kinds of information, such as social preferences, mentions, shares and comments. This information gives marketers an important insight into the online behavior of their target audience. There are two types of social analytics tools: web analytics and social media analytics. The beauty of this tool lies in the depth and scope of the information it provides. It provides businesses with many features, such as automation, sentiment analysis and demographic analysis, to help them analyze and improve their online presence. If the company has a dedicated social media Marketing Department, this can be a very good investment (depending on how important it is to monitor the company’s online reputation).
As online data continues to grow at an alarming rate, business intelligence has its place. However, with the adoption of business intelligence, huge amounts of online information can be easily converted into usable reports.
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