One important connection between business intelligence and marketing is that intelligence often informs the design and targets of advertising campaigns for products and services. In most cases, marketing analysts produce and analyze business intelligence related specifically to marketing. They might then create reports that propose a particular plan of action and which also provide executives with solutions to potential problems. Business intelligence and marketing are also connected in the sense that records of marketing successes and failures end up creating new intelligence that analysts can use to direct new campaigns.
Business intelligence is data that impacts decisions business professionals make. Marketing describes all of the actions professionals take to increase sales by making their products and services appealing to customers. When used for the purpose of marketing, business intelligence might reflect the spending habits of certain demographics. It also may illustrate an organization's history of marketing to certain groups. Many marketing experts believe that in order for a marketing campaign to be successful, business intelligence and marketing should go hand-in-hand.
Normally, business intelligence is integrated into marketing processes with the use of business intelligence software. This kind of software often allows professionals to access and store data related to marketing strategies and other kinds of data. This software normally allows users to generate documents, spreadsheets, and charts that present intelligence in an organized fashion. Analysts and marketing professionals can use these tools to locate patterns that might illuminate successful marketing strategies.
In order to understand the relationship between business intelligence and marketing, it can be helpful to understand how marketing analysts work. Most marketing analysts begin by meeting with executives and discussing desired goals. In some cases, an analyst might belong to a firm that also collects and organizes data. Other analysts may take prepared business intelligence and perform analysis. An analyst then might return to an executive with marketing solutions based on analysis of business intelligence.
Marketing strategies can also create business intelligence. It is common for sales professionals to record histories of their interactions with clients. They might use software to keep records of strategies that were used to sell to clients, which were successful, and how others might not have been successful. When sales and marketing professionals access this information to develop new strategies, they are using business intelligence. This intelligence can come directly from a client business's records or from exterior factors, such as the performance of competitor businesses.
