Apply Business Intelligence to Your Business – The development and application of business intelligence in a business is critical for you to achieve high levels of productivity and be increasingly competitive.
In fact, the success of a company in the corporate universe is directly related to the way in which it is organized and the strategies used to carry out its management.
With this in mind, we put together some very strategic advice so that your company is aligned with this change.
Really, intelligence can be applied in any segment of the market. Next, we will explain what business intelligence is and how you can apply it in your organization.
We will point out the main trends that you can easily adopt, with an emphasis on the technological resources available. Look at it!
What is business intelligence
In general, intelligence can be understood as the ability that people develop to find solutions to solve problems of different orders.
When used in the corporate world, this concept refers to the managerial competence to create and implement alternatives that aim to obtain improvements in market strategies.
In this way, business intelligence refers to both the formulation and the continuous use of a set of strategic actions whose main function is to take advantage of the results obtained by a company in its activities in the market.
These actions are based on the systematic collection and analysis of quantitative and qualitative data related to all sectors of the company.
By adopting more intelligence, the company can verify information from different sources. For example, link data related to your customers with market variables, such as economic indices and financial indicators.
These associations provide insights useful to support different planning modalities and inform the decision-making process.
Enjoy the information
Properly collected and managed information offers broad visibility of the context in which the company operates, in order to observe the factors that influence its performance.
Based on this, favorable conditions are created to find more efficient strategies to optimize the means of operation, recruit and retain customers, as well as improve the experience with the services or products offered.
By applying business intelligence to your activities, you will change your entire operational dynamics. Therefore, the company stops operating in a reactive way and begins to act in advance, assuming the role of leadership and autonomy in its business segment. The organization is responsible for establishing the pace that the competition must follow.
This new position in the market scenario brings two important advantages for the business.
- First, the corporation acquires greater competitive power, being able to innovate in relation to its competitors.
- Second, as a result, the company has real possibilities to apply improvements to its production chain as a whole, which contributes to increasing operational efficiency and increasing profits.
Applying more intelligence to your operations
Apply Business Intelligence: The use of business intelligence in the corporate environment is based on the articulation of three groups: customers, competition and market.
Based on the identification and analysis of their characteristics, the management team can count on information in a sufficient quantity and level of detail to structure their organization and plan commercial actions in the short, medium and long term.
In this perspective, to apply business intelligence in your operations, it is essential that you seek to answer questions such as:
- Who does the company sell to?
- Is the sales team adequately prepared to deal with these types of customers?
- Who are the main competitors of the corporation?
- How do they work in your niche?
- What strategies does the competition employ?
- What products and services are available in the market?
The answers will contribute to the mapping of customer profiles, competitors and the market segment of which it is a part.
Obtaining this information is essential for your company to create commercial proposals that, at the same time, satisfy the demands of the market, are more attractive than those of the competition and satisfy consumers.
Trends for your business
To produce significant effects on the company, business intelligence strategies must be associated with the use of technological resources.
It is precisely the use of technology that will allow the company’s data to be treated with a high degree of objectivity and precision, in addition to making the negotiation process much more agile.
In the sequence, we will address the most efficient business intelligence technology trends.
1. Big Data
This technological resource allows processing large, voluminous and diverse data sets in a simple, unambiguous and very fast way.
Therefore, the software that uses Big Data technology is capable of articulating different sources of information, both internal and external to the company, generating highly detailed reports, which have the potential to help in planning and in the decision-making process. decisions.
2. CRM system
The CRM is a resource for customer management and sales management. The team that operates directly with commercial transactions has access to the data of the customers who consume the products or services and the record of the sales that were closed.
Knowing this information is essential for sellers to plan their actions with consumers, as well as being important for the creation of marketing strategies.
3. Electronic signature
The use of electronic signatures by a company’s sales team contributes to making transactions much more dynamic, efficient and convenient. In addition, it provides more business options for the company. With this tool, you can invest in virtual marketing, for example.
It also allows more mobility for the sales team, who can send a contract for signature from anywhere using their cell phone or tablet.
Since it is a secure and legally valid technological resource, the electronic signature is a strategic tool for the operational flow of any company.
It’s much simpler for the sales team and the customer. Eliminate the costs of printing, paper, transport and storage of physical documents.
The use of commercial intelligence in your routine will be a competitive differential in your business. With the creation of market strategies and the use of appropriate technological tools, you can optimize productivity, gain prominence among competitors, improve brand positioning and, of course, increase profitability.
- Business Analytics: What is it and How Can it Help Your Company?
- What is Business Intelligence? Benefits and How to Impelent it
- Best Business Intelligence Tools Help Companies Understand Data
- What is Digital Culture? and How Does It Accelerate Your Company
- What Is Digital Transformation and How Can It Help You? Find Out!
- Digital Economy: What is it? Advantages and Disadvantages