What marketing can expect with a BI tool
Business intelligence (BI) tools are designed to help marketers make better decisions by providing access to data that would otherwise be unavailable. In the marketing world, having access to accurate and timely data is critical to success. After all, how can you make informed decisions about where to allocate your resources if you don't have accurate information about your target audience and their behavior?
That's where a BI tool comes in. By connecting to data sources and combining that data into a single platform, BI tools give marketers a comprehensive view of the landscape. In this guide, we'll show you how to use a BI tool to support your marketing efforts.
Establish Your Goals
Before you can start using a BI tool, you need to establish what you want to achieve with it. Otherwise, you'll just be wasting time and money on something that doesn't support your larger goals. For example, if your goal is to improve customer retention, then you'll want to use a BI tool that gives you insights into customer behavior so that you can identify at-risk customers and take steps to keep them engaged.
Choose the Right Tool
There are dozens of different BI tools on the market, so choosing the right one for your needs can be daunting. However, there are some key factors you should always consider when evaluating options. First, consider what type of data you need to connect to the platform. If you're working with big data sets, then you'll need a platform that can handle that volume of information. Second, think about what type of analysis you need to perform. If you need complex analysis or reporting, then you'll need a platform with robust features. Finally, consider ease of use. The platform should be easy for non-technical users to navigate and should require minimal training.
Connect Your Data Sources
Once you've chosen a BI tool, the next step is to connect your data sources. This typically involves working with IT to set up connections between the BI platform and your organization's data warehouses or other data repositories. Depending on the types of data you're working with, this process can be simple or complex. However, once the connection is established, you'll be able to access all of your organization's data in one place.
Explore Your Data
Now that you have access to your data, it's time to start exploring. A BI tool will typically provide some sort of visualization interface that makes it easy to see trends and patterns. By looking at your data, you should be able to answer important questions about your customers, such as who they are, what they do, and how they behave. This information will be critical as you start to make decisions about your marketing strategy.
Make Data-Driven Decisions
Once you have a good understanding of your data, you can start using it to make informed decisions about your marketing strategy. For example, if you see that a certain customer segment is at risk of churning, you can target them with a retention campaign. Or, if you see that a particular channel is generating a lot of leads, you can invest more resources in that channel. By using data to guide your decisions, you can ensure that your marketing efforts are as effective as possible.
Create Your Reports and Dashboards
Now that your data is connected, it's time to start generating reports and dashboards. This is where the real power of a BI tool comes into play because it allows you to quickly generate customized reports that would be impossible to create manually. For example, let's say you want to see how effective your recent marketing campaign was in terms of reach and engagement. With a few clicks of a button, you can generate a report that shows exactly how many people were exposed to the campaign and what kind of engagement it generated.
Take actionable next steps
The final step is to take action on the insights you've gained from your data. This might involve making changes to your marketing strategy, sync'ing your data to your SaaS tool, or even changing the way you do business. Whatever actions you take, be sure that they're based on data and not just gut instinct. By using data to drive your decisions, you can be sure that you're making the best possible choices for your business.
Business intelligence (BI) tools are powerful decision-making aids that give users access to data they wouldn't otherwise have. In the marketing world, having access to accurate information is critical to success. By connecting your organization's data sources and using the features in a BI tool wisely, you can gain insights that will help improve your marketing efforts and positive impact your bottom line..