As you are well aware, the business world has gone through some of the most rapid changes within the last few years. Of course, it’s not easy to keep up with the ever-changing business intelligence world.
But with the advent of digital marketing and online analytics, companies now have possibility to learn more about their customers than ever before. In fact, it’s been reported that 90% of the world’s data has been created within the last two years alone.
Did you know that measuring actual customer behavior instead of behavioral intent can dramatically increase your marketing effectiveness?
If you're trying to understand your customers' behaviors, probably the last people you should ask are your customers.
Companies have spent many years building enterprise data warehouses and using business intelligence (BI) tools to report on the business. But predictive analytics is different. Advanced statistical, data mining, and machine learning algorithms dig deeper to find patterns that traditional BI tools may not reveal.
Business intelligence allows organizations to better understand, analyze, and even predict what’s occurring in the overall environment and in their company. BI helps your organization turn data into useful and meaningful information which you can distribute to those who need it, when they need it, wherever they need it, so that they can make timely and better informed decisions.
It allows organizations to combine data from a wide variety of sources and see an integrated, up-to-date, 360-degree view.
With more data streams coming online and their integration into existing BI, CRM, ERP and other mission-critical business systems, the single view of the customer may finally come into focus. While most customer service and field sales representatives have yet to feel the impact, big companies such as IBM and MicroStrategy are working to see that they do soon.
When they are used together, data mining and predictive analytics can really make marketing more efficient.
There are many techniques and methods for this, and one of them is business intelligence data collection.
Now we get to a point, what is business intelligence data?
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