Business intelligence or also known as bi is a technology-driven process and strategy used by businesses to analyze data and present actionable information for owners operators managers Executives and CEOs. There are many forms of business intelligence and the data that technology is used to provide historical current and predictive views of business operations. For our purposes we will focus on business intelligence for small and medium-sized businesses. There is Great Value in the analysis of web data and analytics and it's something that most small businesses are familiar with, at least the terms as data continues to grow the number of companies using Google analytics for example range anywhere from 30 to 50 million.
Business intelligence encompasses the analysis of the company's raw data and puts into forms and formats used to produce actionable and constructive guidance. For example data might include current sales figures customer habits or operational costs.
Business intelligence for the small business may be as simple as am I making a profit on my current ad spend. To understand your current ad spend you first have to understand where your customers are coming from. Most small businesses with websites don't have any clue if their current form of advertising is actually profitable.
How we incorporate business intelligence into our platform
In the discussion above again for a small to medium-sized business or SMB, determining if you are current advertising, pay-per-click campaign, Facebook advertising, Instagram advertising and or any other form of paid advertising is effective you've got to be able to track the business intelligence through the use of data. Our platform gives you the owner operator access to this powerful data so that you can determine which form of advertising is providing the best ROI and with enough history you will be able to project if I spend $1 and advertising I will get $1.50 in revenue, or whatever that formula may be for your business. The point is harnessing the data from clients and manipulating that data to see patterns Trends and opportunities will give you, the small business owner the same power as the big boys