Marketing now accounts for between 5% to 12% of overall sales, with B2C companies spending far more than B2B companies on marketing.
Extracting meaningful data insights for decision-making is the goal of business intelligence (BI). As a forward-looking company’s marketing strategy, it is essential. The use of business intelligence (BI) technologies may assist firms in analysing industry trends, optimising their marketing strategies, and even unearthing new growth prospects.
Microsoft’s Power BI
Marketers may benefit from Microsoft’s BI suite’s interactive business information features. There are two options for the desktop and the cloud for the Power BI service: Desktop and the cloud-based service, known as Power BI Services and Power BI Desktop. On the Azure cloud platform, Microsoft delivered Power BI Embedded in 2016. Pre-built data interfaces, a tight Excel integration, and built-in AI capabilities are all included in Microsoft Power BI. It provides real-time access monitoring and end-to-end encryption of data.
Analytics from Zoho.com
2009 saw the debut of the BI suite Zoho Analytics by the Indian multinational IT business Zoho. Enterprise reporting server and dashboard development are made possible using a self-service BI and analytics system.
An automatic data sync capability makes it possible for organisations to analyse data from any source, in addition to spreadsheets, flat files, and cloud storage. Whether hosted in-house or remotely, a wide variety of relational databases may also be accessed. An NLP and ML-powered analytical assistant called Zia powers it, allowing marketers to acquire insights in minutes.
Freshworks CRM
Freshworks promises to assist firms in boosting their website conversions by 40%. Girish Mathrubootham and Shan Krishnasamy started the Chennai-based firm in 2010. Using a cloud-based customer engagement service provider, organisations may receive a complete picture of their client base, get insight into consumer actions, and organise their customers into segments and lists. Customers may be segmented based on their demographics and interests using this tool’s conversion rate optimisation features.
HubSpot
All CRM contact, business and transaction data, and marketing, sales, and service data can be easily connected to create bespoke reports in HubSpot. Dharmesh Shah and Brian Halligan made it in 2006.
Custom objects and the HubSpot App Marketplace allow companies to bring data into HubSpot and connect their applications. Through landing pages, email marketing, and ABM, customer acquisition may also be improved. In addition, HubSpot provides revenue attribution data, which helps you monitor your investment return. Trello and SurveyMonkey are a few of its well-known clients.
Looker
It was founded in 2011 by Lloyd Tabb and Ben Porterfield, who wanted to make it easier for firms to consolidate their marketing data. Customers may be segmented by qualities and tracked across numerous channels with the help of a customer data management platform.
For organisations, Looker provides a way to measure KPIs like cost per click (CPC), click-through rate (CTR), and cost per acquisition (CPA), as well as the income earned by each campaign and medium of marketing. To help marketers better understand customer behaviour, the platform provides a comprehensive view of a user’s journey—from the first click to the final conversion—and allows for A/B testing of campaigns by looking at how the business’s variations influence critical user behaviour, based on statistically significant results. Looker lets organisations track new leads and customers and optimise conversion rates by channel, content, and audiences.
Conclusion
Business Intelligence Tool is data visualisation, visual analytics, interactive dashboarding, and KPI scorecards. In addition, they provide self-service capabilities for automated reporting and predictive analytics, making the analytical process more efficient and accessible.
However, what are the specific advantages of modern BI tools, and what can they provide that conventional data management methods cannot? Technology is where it all begins.
