When wondering how to best use business intelligence processes, selling products to consumers is always top-of-mind. Collecting market information and pouring that data into sales processes is straightforward and effective, and decisions made with content support rather than intuition can transform an organization's strategy, reducing waste and allowing a more direct connection with consumers. No matter how far BI evolves over the months and years ahead, it will likely always retain this role. After all, once leaders have learned to target their client bases through data, they will likely be reluctant to go back to the legacy processes that existed beforehand.
Seasons ripe for analysis
A recent TechZone360 piece explained that companies may be putting their analytics processes to work to ensure they offer just the right mix of products for holiday seasons at the right time. One such period is currently underway, as back-to-school shopping has become a major calendar event for businesses in any market even vaguely connected to school supplies and products. The source noted that SAP released a report on the 2013 market, with information culled from a promising big data source: social media activity. TechZone360 implied that this is the type of deep insight organizations will want to use when facing next year's shoppers.
The source indicated that the SAP analysis found sentiments changing toward elements of sales campaigns as the months went by: In this case, consumers didn't warm up to promotion for back-to-school items until the season was almost upon them. Retailers may think that they are getting ahead of the game by playing commercials in June, but they could just be annoying their consumer base and throwing away the not-inconsiderable amount of money it takes to get an ad on TV. Finding the exact right moment for any important element of a strategy may depend on leaders leveraging their own BI programs.
Valuable sources of information
While there are plenty of analysis operations that can be performed on just structured data stored in spreadsheets, leaders hoping to unlock a new level of results depth may opt instead to work with unstructured content that does not fit within traditional repositories. Big data is the next big thing, and some users may have to get rid of their BI processes to add this new component. This is not so for Necto buyers, as the latest versions of this solution are designed to work with many and varied information sources. These assets can enrich tactics and refine results.