What You Need to Know About Business Intelligence

Written by David McKeegin

Every business wants to be successful. That success always comes from growth. With most businesses, growth comes from customer retention and gaining new customers. “Business Intelligence” can help a company gain new customers and retain old customers. Business intelligence can be abbreviated BI. A formal definition of business intelligence is that it is a process of collecting information inrepparttar area of business. In BI, data collected is enhanced into information and then into knowledge. Business Intelligence can give any business an accurate idea of its customers’ needs. Businesses that have large amounts of information about their customers can act upon that information. Businesses utilizing BI gain knowledge and understanding of a customer’s needs, customer’s decision-making process, and economic, cultural, and technological trends. When using businesses intelligence, businesses select either short term or long goals. BI helps a company reach those goals.

Business Intelligence History

The idea of business intelligence goes back to Sun Tzu’s “Art of War.” Tzu believed that in order to win a war, you must have complete knowledge of your own strengths and weaknesses, as well asrepparttar 146547 strengths and weaknesses of yourrepparttar 146548 enemy. This isrepparttar 146549 central idea in present-day business intelligence. Companies must know themselves better than their competitors, and they must know their competitors better. War and business are a lot alike considering that with BI, one must sift through heaps of data (both external and internal) for management to then make strategies for where to takerepparttar 146550 business and marketing. Warfare involves strategic plans as well. BI isrepparttar 146551 process of gaining information about every element of your market. Simply understandingrepparttar 146552 customer is not enough; a business must understand its competitors, and itself.

KPI, Key Performance Indicators

The present state of business is assed byrepparttar 146553 use of Key Performance Indicators (KPI) in business intelligence. As more companies implement KPI, data is becoming available to business faster and more efficiently. Data used to be available for business only after one or two months. This untimely availability did not help business adjust their strategies. More recently, banks have tried to make data available sooner and with shorter intervals. Banks do this especially for businesses that have higher credit/operational risk loading. This allows many companies to get new data weekly, and adjust their strategies faster than ever before, leading to increased customer satisfaction and retention.

Marketing One We Site With Perpetual Marketing

Written by Dean Shainin

I describe perpetual marketing as a large number of people promoting one web site so they can all receiverepparttar traffic generated by each other.

For example, you decide to create a free ebook that you will give away to your web site visitors. You ask a large number of e-zine owners to give awayrepparttar 146546 ebook in exchange for their ad inrepparttar 146547 ebook. You can just ask them to link directly to your web site when they promoterepparttar 146548 ebook for marketing. You, of course, will have one of your own ads on that web page that you will also be marketing.

Let's say you get 8 out of 20 e-zine owners that agree to giveawayrepparttar 146549 ebook you are marketing. The 8 e-zines total subscriber base is 75,000.

Now, you can ask more e-zine owners if they would like to promoterepparttar 146550 ebook in exchange for an ad insiderepparttar 146551 ebook. This time you can say, you already have 8 e-zines already promotingrepparttar 146552 ebook with a subscriber base of 75,000.

The next group of e-zine owners you ask will be more tempted to promote your ebook because there is a greater chance they will receive a lot of traffic fromrepparttar 146553 deal. It's win/win situation!

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