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Business Intelligence for Great Day Tracking

Currently, most of the firms are facing constant pressures for maintaining sustainable growth, being ahead of their competitors as well as presenting high-quality products and services. The firm can’t be able to survive, without the development of a thorough perspective for marketing. One of the tools which could assist in gaining market insight is the business intelligence tool. For the internet, it has resulted in superior means for the information collecting as well as analysis (Lee & Bradlow, 2011). Business intelligence has got a direct implication on the performance of the firm concerning the quality, low costs as well as flexibility for becoming accustomed to the changes in markets trends (DeWaal and Batenburg, 2014).

The companies which are using the business intelligence tool are aware of what they require from this tool without them knowing what this tool is capable of. This is the extract vital insight from the vast unstructured data as well as transforming them to valuable businesses information. The company could custom the info in making a planned decision, optimizing the efficiency for operation as well as enhancement of productivity. The information provides insight for the customer trends, the habit for buying, shopping online among others that provide value for the business.

Business intelligence tools could assist with valuable resources for the data that could be used in achieving the goals of the business through making strategic decisions. The interactions which the customers through voice calls, chat support, emails support could be analyzed besides being measured by the BI tools for understanding preferences of customers, the habit for purchasing, markets trends. All the data could be used in increasing the ratio for conversion.

First, the BI could assist the business in improving their competition edge with an effective usage of the data as well as turning the data into actionable information. The solution for BI makes the data to be accessible for the authorized consumers as well as allowing them into interacting with the competitive intelligences from a safe and warehouse being managed centrally. This assists the organizations in taking strategic decisions using information in a quick manner as well as effectively accessing the information.

Secondly, through business intelligence, one could reduce complexities which exist with the information being locked in the various soft wares as well as spreadsheet. The tool integrated all the data, which is presented in the workplaces in different forms, straight with the existing software solutions, leveraging the real time data to providing a more vigorous view for business where the figures do not white lie. By having the BI, you are assured of having business success.

Thirdly, the software is used in the obtaining of the market intelligence as well as with the BI tools the data could be analyzed in a better means thus predicting the market trends, insights of the customers, their buying patterns, monitoring the behaviors of customers among others. With the information available in a central place, the business could be responsive to the changes in marketplace. This will allow business holders in planning the manufacture units. This could assist in optimizing product manufacturing as well as reducing wastage. If the BI is used effectively, it could assist in improving market intelligence.

Finally, it has come to be vital for the businesses since clients have begun cooperating with the businesses across different stages as well as channels. The clients are using the websites, social medias channel, emails, and live chats. It could be problematic in addressing the clients without consolidating the viewing for interaction. You will be able to meet the customers’ needs through addressing them in an informative manner as well as effective means. Through the study of data which is provided by the business intelligence could assist in improving as well as honing the engagement of customers through direct contact with the customers.

References

De Waal, B. and Batenburg, R. (2014), “The process and structure of user participation: a BPM

system implementation case study”, Business Process Management Journal, Vol. 20 No. 1,

pp. 107-128

Lee, T.Y. and Bradlow, E.T. (2011), “Automated marketing research using online customer reviews”, Journal of Marketing Research, Vol. 48 No. 5, pp. 881-894.