Business intelligence informs marketing campaigns, with analysts producing and analyzing data specifically related to marketing. Marketing strategies can also create business intelligence, with sales professionals recording successful and unsuccessful interactions with customers. Business intelligence software allows for organized data presentation and pattern spotting.
An important link between business intelligence and marketing is that intelligence often informs the design and objectives of advertising campaigns for products and services. In most cases, marketing analysts produce and analyze business intelligence specifically related to marketing. They could then create reports that propose a particular plan of action and also provide executives with solutions to potential problems. Business intelligence and marketing are also related in the sense that records of marketing successes and failures end up creating new insights that analysts can use to direct new campaigns.
Business intelligence is a piece of data that influences the decisions made by professionals. Marketing describes all the actions professionals take to increase sales by making their products and services attractive to customers. When used for marketing purposes, business intelligence may reflect the spending habits of certain demographics. It can also illustrate an organization’s marketing history to certain groups. Many marketers believe that for a marketing campaign to be successful, business intelligence and marketing should go hand in hand.
Normally, business intelligence is integrated into marketing processes with the use of business intelligence software. This type of software often allows professionals to access and store data related to marketing strategies and other types of data. This software normally allows users to generate documents, spreadsheets and charts that present intelligence in an organized manner. Analysts and marketers can use these tools to spot patterns that could illuminate successful marketing strategies.
In order to understand the relationship between business intelligence and marketing, it can be helpful to understand how marketing analysts work. Most marketing analysts start by meeting with executives and discussing desired goals. In some cases, an analyst might belong to a company that also collects and organizes data. Other analysts can take prepared business intelligence and run analyses. An analyst could then come back to an executive with marketing solutions based on business intelligence analysis.
Marketing strategies can also create business intelligence. It is common for sales professionals to record stories of their interactions with customers. They could use the software to track which strategies they used to sell to customers, which ones were successful, and how others might not have been successful. When sales and marketing professionals access this information to develop new strategies, they use business intelligence. This intelligence can come directly from a client company’s records or from external factors, such as the performance of competitor companies.
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