ALL >> Business >> View Article
Business Intelligence And Marketing Basics For Organizations
An organization generates a lot of data. Most of this data is kept in databases, which are electronic repositories. There are many hidden aspects of such data that can be of good use for the upper management during decision making. For example, employee data can give a brief idea of the skills and knowledge levels of the employees. This data can be used for training purposes so that additional skills can be inculcated in the employees. Predictive modelling is not a new concept, but in the recent days, it has come to the forefront. Thousands of organizations worldwide are spending millions and billions on data mining, business intelligence, and predictive modelling.
To get a brief understanding of this entire concept, let’s take an example of marketing. If a marketing manager is preparing a marketing budget, he or she will need accurate data to allocate funds in the right places. Acquisition & data driven marketing is the need of the hour and the marketing manager needs to know its importance. There are several consulting companies that are offering their services for predictive modelling and business intelligence ...
... related tasks. When you are hiring a consultancy firm for the business intelligence tasks, you will have to keep a few key aspects in mind. Always select a consulting firm that is trusted and reliable. Providing intelligent data solutions is not easy, hence, you will have to pick the experts only.
When you have data, you will need insights into that data. Once you have insights into that data, you can make predictions and also take the right decisions at the right time. For example, if you have customer data, you can delve into that data and see which customers use your product the most. Thus, you can also do customer segmentation by using intelligent data. Raw data needs to be processed to obtain intelligent data. Such a process is called data mining. There are several consulting companies that are offering data mining services, which are proving to be very helpful to organizations in decision making.
During customer segmentation, if the marketing manager does not have the right data, he or she will not be able to concentrate on the target market. In such instances, there will be a dip in sales and revenue. Hence, a marketing manager needs to be very proactive in searching the best business intelligence consultant to give him or her insights into the business. There are two business environments that the marketing manager needs to look into.
These environments are internal and external marketing environments. The main focus needs to be on the external environment because a major portion of the market lies outside the organization. A good business analysis of available data will give the marketing manager a good idea of the internal as well as the external markets. During market segmentation, there are some critical decisions that need to be taken. Having competitor’s data will also be of great help for the marketing manager of the organization or firm.
The author is associated with Effective Intelligence. The company specializes in acquisition & data driven marketing for clients. Check out for more information on predictive modelling.
Add Comment
Business Articles
1. Finding A Trusted Sustainability Consultant In Abu DhabiAuthor: Agile Advisors
2. Iso Certification In Dubai – Advantages For Business
Author: Agile Advisors
3. Best Forex Brokers List | Best Broker For Forex Trading 2024
Author: Top Forex Brokers Review
4. Celebrate Achievements With Customized, High-quality Awards From Trophy Deals
Author: Trophy Deals
5. Is 100% Company Ownership Possible For Expats In Saudi Arabia?
Author: jodonjo
6. We Are Hiring: Senior Executive - Indirect Taxation In Gurgaon!
Author: tanvir Khan
7. Ceratec Tower 1o8: The Eventual Fate Of Business Greatness In Balewadi, Pune
Author: Tarun
8. Enrofloxacin Manufacturer: Swisschemie
Author: Swisschemie
9. Ultimate Guide To Hotels In Mussoorie: Discover The Best Places To Stay, Including Hr Hotels And Resorts
Author: Hr Hotels and Resort
10. How Quickly Do Fast Cash Loans Online Pay Out Cash On The Same Day?
Author: Lucy Lloyd
11. Leading Digital Marketing Agency In Hyderabad And Unlock Your Brand’s Potential With Sanbrains Agency
Author: Sanbrains Seo
12. Celebrate Success With Customized Awards From Trophy Deals
Author: Trophy Deals
13. Title: Choosing The Right Humidity Stability Chamber Supplier For Your Manufacturing Needs
Author: bio gene
14. Complete Guide To Studying Mbbs In Poland
Author: Mbbs Blog
15. What Is The Process For Locating The Best Lender For Short Term Loans Online?
Author: Robert Miller