Apply Business Intelligence to Your Business – The development and application of business intelligence in your business is very important for you to achieve high levels of productivity and be increasingly competitive.
In fact, the success of a company in the corporate world is directly related to the way it is organized and the strategy used to carry out its management.
With this in mind, we’ve put together some highly strategic suggestions to get your company aligned with this change.
Truly, intelligence can be applied in every market segment. Next, we’ll explain what business intelligence is and how you can apply it to your organization.
We’ll show you the main trends that you can easily adopt, with an emphasis on available technological resources. Look at that!
What is Business Intelligence?
In general, intelligence can be understood as the ability that people develop to find solutions to solve problems of various settings.
When used in the corporate world, this concept refers to the managerial competence to create and implement alternatives aimed at obtaining improvements in market strategy.
In this way, business intelligence refers to the formulation and continuous use of a series of strategic actions whose main function is to exploit the results obtained by the company in its activities in the market.
This action is based on the collection and systematic analysis of quantitative and qualitative data related to all sectors of the company.
By adopting more intelligence, companies can verify information from multiple sources. For example, relate data related to your customers to market variables, such as economic indices and financial indicators.
These associations provide useful insights to support different planning modalities and inform decision-making processes.
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 markets.
Based on the identification and analysis of their characteristics, the management team can rely on a sufficient amount and level of detail of information to structure their organization and plan commercial actions in the short, medium and long term.
In this perspective, in order to implement business intelligence in your operations, it is important that you answer questions such as:
- To whom does the company sell?
- Is the sales team adequately equipped to handle this type of customer?
- Who are the main competitors of the corporation?
- How do they work in your niche?
- What strategy is the competition using?
- What products and services are available in the market?
The answers will contribute to mapping the profile of the customers, competitors and market segments of which they are a part.
Obtaining this information is essential for your company to make a commercial proposal that, at the same time, meets market demands, is more attractive than the competition and satisfies consumers.
Trends for Your Business
To produce a significant effect for the company, business intelligence strategy must be linked to the use of technological resources.
It is precisely the use of technology that will enable company data to be treated with a high degree of objectivity and precision, in addition to making the negotiation process much more agile.
Sequentially, we will discuss the most efficient business intelligence technology trends.
1. Big Data
These technological resources enable the processing of large, multiple, and diverse data sets in a simple, unambiguous, and extremely fast manner.
Therefore, software that uses Big Data technology is able to articulate various sources of information, both internal and external to the company, to produce very detailed reports, which have the potential to assist in planning and in decision-making processes. decision.
CRM is a resource for customer management and sales management. Teams that operate directly with commercial transactions have access to data on customers who consumed the product or service and records of closed sales.
Knowing this information is very important for sellers to plan their actions with consumers, as well as important for making marketing strategies.
3. Electronic Signature
The use of electronic signatures by the company’s sales team makes transactions more dynamic, efficient and convenient. Moreover, it provides more business options for companies. With this tool, you can invest in virtual marketing, for example.
It also allows for more mobility for sales teams, who can send contracts to be signed from anywhere using their phones or tablets.
Because it is a secure and legally valid technology resource, e-signatures are a strategic tool for the operational flow of any company.
It’s much simpler for the sales team and customers. Eliminate printing, paper, transportation, and physical document storage costs.
Using commercial intelligence in your routine will make a competitive difference in your business. By creating a market strategy and using the right technological tools, you can optimize productivity, gain an edge over competitors, improve brand positioning and, of course, increase profitability.
Enjoy the Information
Information that is properly collected and managed offers broad visibility from the context in which a company operates, to observe the factors that influence its performance.
Based on this, favorable conditions are created for finding more efficient strategies for optimizing means of operation, recruiting and retaining customers, as well as enhancing the experience with the services or products offered.
By applying business intelligence to your activities, you will change the entire dynamics of your operations. Therefore, the company stops operating reactively and starts acting early, taking on a leadership and autonomous role in its business segment. The organization is responsible for setting the pace that the competition must follow.
The new position in this market scenario brings two important advantages to the business.
- First, the corporation gains greater competitive power, being able to innovate in relation to its competitors.
- Secondly, as a result, the company has a real possibility of implementing improvements to its entire production chain, which contributes to increased operational efficiency and increased profits.