Business Intelligence (BI) might sound like a new concept, but the term was coined over 150 years ago–long before computers. While there was no such thing as data automation or software back then, the definition of BI has remained much the same: It’s the use of data to help inform better business decisions.
When done right, BI has the power to transform any size of business into an ultra-competitive growth machine. After all, when you have data to inform your decisions, you can take calculated risks that ultimately put you on the path to sustainable and even rapid growth.
The great news is today’s BI is supported by data automation and other tools that make it almost an automatic process. In fact, the biggest companies have proven that BI is at its best when engrained into processes, dashboards, and workflows. In these examples, you’ll see that using BI is no longer a question of if or when–it’s a fundamental part of the routine.
The New York Shipping Exchange (NYSHEX) is one of many excellent examples of how new BI tools can be completely automated and blend into existing processes. When NYSHEX implemented a very user-friendly and visual tool, they were able to double enrollment while improving efficiency across the organization.
The tool’s visual query maker and intuitive dashboards unlocked the power of data for everyone in the organization. Even those who have no experience with databases or querying can use it to inform decisions, compile reports, and drive growth for the business.
Bugcrowd is a unique service that helps put companies in touch with security professionals, but in order to do that, they required a BI tool that was capable, secure, and able to sort through endless amounts of data from many different sources.
Using BI, Bugcrowd was able to better understand how users interacted with their tools, and later they used BI to directly improve customer success and retention.
Reddit is one of the world’s most popular social communities with over 430 million monthly visitors. But, they realized they had a problem–all those threads, users, mentions, and valuable data were burying themselves under mountains of new content, and it was standing in the way of profit. So, they put BI into action to better monetize all that traffic.
By analyzing data in real-time, Reddit’s team is able to see what brands are being talked about across the 2 million users and then turn around and tell those brands when it’s a good time to enter the conversation. This approach allows for brands to market themselves in an organic, relatable way while users enjoy face-to-face interaction, and Reddit is able to monetize more effectively–it’s a win/win/win.
Koodos is a platform with an extremely unique model focused on the relationship between data and music tastes. One of their experiments would give users who texted an emoji a song recommendation. Using BI, they were able to analyze the relationships between the emoji, song, and overall user experience to improve their future recommendations.
Koodos continues to use BI to improve the recommendation engine and drive the user experience. Since the entire platform is based around content curation, BI is essential to ensuring they are as effective and thoughtful as can be.
CareLinx is an in-home care network that has long used BI tools to help sales and marketing teams understand non-private data. But, when they discovered a BI tool that was HIPAA compliant, it suddenly empowered every team to query any data in a secure way.
Now, the care and support staff at CareLinx can use BI every day to help them improve the experience of their clients. By understanding the challenges clients and their families face, along with the elements that make for a good CareLinx experience, the company is changing lives one day at a time.
Clever is used in K-12 institutions across the country to support learning and education, and they quickly realized that BI would be able to help every team do their job more effectively. About 90% of Clever’s employees use BI regularly to support their workflow, and it’s made the biggest impact on innovation and development.
Using BI, Clever is able to extract information from teacher support requests and send it to the development team so they can brainstorm new features that will better meet the needs of users. The result: The community feels heard, the product gets better every day, and the developers save time on market research.
These examples barely brush the surface of BI’s many possibilities. Are you interested in learning how BI can be applied to your business? Contact us to discuss how Aezion’s BI experts can help you steer your business intelligence initiatives to drive growth and put you on the path to reaching your biggest business goals.
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