Through business intelligence, we get information based on facts, and data gathered through proven methods. This information is then used for decision-making strategies that can, directly and indirectly, affect conversion.
To convert information to business intelligence first you need to know what opportunities are ahead, make a strategy, gather data, and analyze it, then after all that make decisions based on the analyzed data and insights.
Business Intelligence can definitely add value to the business. If you have it then you can methodically get a great volume of raw data at a quick speed. With this, you can have access to the business data, analyze it, and make more efficient business decisions.
There are lots of business intelligence tools that you can surely use to get what you need. Some of the best are the following datapine, SAS Business Intelligence, Clear Analytics, SAP BusinessObjects, Domo, IBM Cognos Analytics, GoodData, and MicroStrategy.
It is used for strategic planning to see what opportunities lie ahead for the company. Aside from that, it is also used to measure the performance and progress of the goals of the company or business.
It can pave the way for the establishment of a credible and organized source of data that a business or company can use to get to a decision. This can solidify and stabilize the future of any business if done right.
Some of the famous companies that use business intelligence are Starbucks and Amazon. They use it to personalize product and market recommendations, as well as logistical business decisions.
It can solve the limit to the data access, performance management problems, inefficient systems, day to day operational hurdles, tech problems, and many more problems related to management and logistics.
Business intelligence and analysis can help companies come to a better decision by gathering data related to their business, then analyze that data to see what more can they do to improve business or solve problems within the business.
In simpler words, business intelligence deals with the what and how of the data gathered, while analysis deals with the ‘reason’ or ‘why’ of the data.
Business intelligence tools are not just being used to see organized and objective data about your company, they can also help change the way you see conversion rates. Choose your own business intelligence tools and see how they change your conversion rates to a higher level!
We collect the most interesting content around conversion rate optimization. Let us know your best email to receive our favorite pieces weekly in your inbox!