The role of business intelligence in a crm
Posted: Tue Jan 21, 2025 4:29 am
In the business world, there is a certain rivalry between the use of business intelligence tools and CRMs and which one a company should choose. Although these solutions have data processing as their primary essence and may have somewhat similar functions, the truth is that their objectives and potentials differ greatly.
CRMs are responsible for optimizing customer relationship management in search of positive brand experiences. Meanwhile, business intelligence is based on processing large volumes of data with the aim of providing concise arguments for decisions. In short, they are two powerful solutions for any company and instead of thinking about choosing one over the other, it would be smarter to take advantage of the benefits of business intelligence in your CRM.
Business Intelligence
Business intelligence, or corporate intelligence, was born finland whatsapp lead to rationalize the huge volumes of data that have come with the evolution of technology and social media. Absolutely everything contains information. From cloud applications and email marketing tools to supply chain systems, they contain massive amounts of business data. And only software specialized in processing Big Data can convert these colossal amounts into vital reports for business decision making.
Business intelligence provides reports, key performance indicators (KPIs), graphical dashboards, and much more. It also exposes a company's strengths and weaknesses, new market trends, and business opportunities. However, business intelligence is not just a single piece of software; rather, it is a set of processes for extracting valuable information from disparate data sources. Therefore, it does not focus on a specific area of the company, but rather focuses on the entire company itself, providing greater functionality and uses.
7 key benefits of business intelligence
Learn the key benefits of business intelligence, a technology-driven process used to analyze data, turn it into knowledge, and present detailed information.
SEE MORE ➜
The role of business intelligence in a CRM
However, the information provided by business intelligence is of no use if it is not understood, adapted and strategies are not created based on its results. By integrating business intelligence into a CRM, the data obtained could be used to optimize relationships with your clients and to make more accurate business decisions.
Advantages of including business intelligence in a CRM
Other advantages of including corporate intelligence in your CRM are:
Pricing and evaluation: With the help of big data resulting from customer interactions, companies can more accurately set prices for products and services. Business intelligence would help in dynamic pricing management by seeking increases in revenue, supported by real-time inventory review and supplier data. All combined would provide better financial forecasts and customer behavior trends.
Decision making: By processing a larger volume of data, business intelligence can reveal various trends around marketing: analysis of purchasing behavior, preferred times, favorite trends, industry influences. In this way, a CRM can better interact with its customers and influence their opinions in favor of the brand.
Better customer segmentation and engagement: With the results obtained from processing Big Data from corporate intelligence, a CRM can recognize customer behavior. This allows for better differentiation and segmentation of customers, as well as identification of unexplored market niches. It also enables proactive interaction with customers through emails, calls, and sales meetings, providing sufficient valuable content. This has a positive impact on the customer's experience with the brand.
Optimizing customer service: With the huge volume of data processed by business intelligence, multi-channel marketing strategies can be developed, with personalized messages and outreach programs. This increases customer interaction, improves their experience and impacts on increased sales and customer retention.
Loyalty programs: A CRM can take advantage of the information offered by corporate intelligence to identify which customers are the most profitable for the company. Then, you can consider working on strengthening the relationship with them and offering them loyalty benefits. This favorably affects customer satisfaction, improves the retention rate and increases the possibility of being recommended to others.
CRMs are responsible for optimizing customer relationship management in search of positive brand experiences. Meanwhile, business intelligence is based on processing large volumes of data with the aim of providing concise arguments for decisions. In short, they are two powerful solutions for any company and instead of thinking about choosing one over the other, it would be smarter to take advantage of the benefits of business intelligence in your CRM.
Business Intelligence
Business intelligence, or corporate intelligence, was born finland whatsapp lead to rationalize the huge volumes of data that have come with the evolution of technology and social media. Absolutely everything contains information. From cloud applications and email marketing tools to supply chain systems, they contain massive amounts of business data. And only software specialized in processing Big Data can convert these colossal amounts into vital reports for business decision making.
Business intelligence provides reports, key performance indicators (KPIs), graphical dashboards, and much more. It also exposes a company's strengths and weaknesses, new market trends, and business opportunities. However, business intelligence is not just a single piece of software; rather, it is a set of processes for extracting valuable information from disparate data sources. Therefore, it does not focus on a specific area of the company, but rather focuses on the entire company itself, providing greater functionality and uses.
7 key benefits of business intelligence
Learn the key benefits of business intelligence, a technology-driven process used to analyze data, turn it into knowledge, and present detailed information.
SEE MORE ➜
The role of business intelligence in a CRM
However, the information provided by business intelligence is of no use if it is not understood, adapted and strategies are not created based on its results. By integrating business intelligence into a CRM, the data obtained could be used to optimize relationships with your clients and to make more accurate business decisions.
Advantages of including business intelligence in a CRM
Other advantages of including corporate intelligence in your CRM are:
Pricing and evaluation: With the help of big data resulting from customer interactions, companies can more accurately set prices for products and services. Business intelligence would help in dynamic pricing management by seeking increases in revenue, supported by real-time inventory review and supplier data. All combined would provide better financial forecasts and customer behavior trends.
Decision making: By processing a larger volume of data, business intelligence can reveal various trends around marketing: analysis of purchasing behavior, preferred times, favorite trends, industry influences. In this way, a CRM can better interact with its customers and influence their opinions in favor of the brand.
Better customer segmentation and engagement: With the results obtained from processing Big Data from corporate intelligence, a CRM can recognize customer behavior. This allows for better differentiation and segmentation of customers, as well as identification of unexplored market niches. It also enables proactive interaction with customers through emails, calls, and sales meetings, providing sufficient valuable content. This has a positive impact on the customer's experience with the brand.
Optimizing customer service: With the huge volume of data processed by business intelligence, multi-channel marketing strategies can be developed, with personalized messages and outreach programs. This increases customer interaction, improves their experience and impacts on increased sales and customer retention.
Loyalty programs: A CRM can take advantage of the information offered by corporate intelligence to identify which customers are the most profitable for the company. Then, you can consider working on strengthening the relationship with them and offering them loyalty benefits. This favorably affects customer satisfaction, improves the retention rate and increases the possibility of being recommended to others.