Marketing teams can use BI to make decisions about where to allocate more time and resources, which content to promote more heavily, and how to target their efforts. Next, it provides better data for sales forecasting, which allows for better resource allocation, budgeting, goal setting, and business decisions.įinally, BI can often operate much like a data-driven CRM system that shows companies who their most high-value customers and leads so companies can target their efforts toward them.īusiness intelligence tools provide data that informs marketing teams about which campaigns are working, which content is performing best, who their target audiences are, and what overall engagement metrics look like. First, it creates an objective and accessibility centralized data repository that eliminates end-of-month surprises and allows companies to identify and address challenges almost in real time. Business intelligence drives overall profitability in a number of ways. Increase Sales, Revenue, and ProfitĮven when BI is used for other purposes, this is the end goal that companies have in mind. It can also reduce errors, allow for more accurate process assessment, and allow for frequent reporting that helps companies react more quickly and operate with more agility. Optimize Operationsīusiness intelligence can be used to optimize operations in ways that reduce process timelines, increase efficiency and productivity, save money, and allow employees to shift their focus to higher-value work. BI tools can track day-to-day activities as well as specified outcomes that can tell a story about individual, team, and company-wide productivity and performance.
Performance tracking using business intelligence tools has become a more pertinent topic than ever before as the workforce has made a shift over the past year and a half to remote operations. How to Use Business Intelligence In Your Company Track Performance