Greater Springfield Chamber

Infos Before Getting into Business

Deep Connection Between Business Communication and Business Intelligence

Business communication is always interconnected to business intelligence. It is for the simple reason that you plan your communications based on a specific strategy. The design of the strategy depends on your specific business domain. It could be internal or external communication. Internal Communication Internal communication will be mainly between the management and the Marketing team Sales team Administrative team Production team HR team Maintenance team etc External Communication External communication is mainly with the entities and individuals who may have a direct or indirect business association with your organization. They may include Customers Vendors Service providers Marketing agencies Advertising agencies Social media agencies etc. Communication Strategy Internal Communication Internal communication is for the process of organizational administration, development, and growth. It relates to the individuals and teams in various departments. For example, you can consider the marketing department. The strategies may include Evaluation of SWOT (strength, limitations, opportunities, and threats) Target objectives How to achieve the targets Measuring performance Improvement suggestions Feedback from employees Action plan It is a two-way communication based on business intelligence. The employees can propose their ideas and plans for organizational growth. The management can set deadlines for the targets. Preparation of strategies and implementation procedures can help to reduce the gap between demand and development to meet the demands. Similarly, internal communication happens between the management team and the other departments. All the procedures are based on the basic and advanced elements of business intelligence. External Communication External communication strategies depend on the existing market conditions, customer orientation, target audience demographic details, and other factors. The communication purpose could be Promotional Informational Interpersonal contact development etc You have to ensure the communications are based on specific business intelligence strategies. For example, it may include market data, Key performance indicators, business analytics, customer and target audience data, etc. You can gather the information through social media, directory listing, social media, etc. Audience Listing   The demographic data about target audiences and customers can give you detailed information about their Contact details Hobbies Product preferences Buying a pattern Emotional points Friends’ contacts Lifestyle etc Now, you have to match the parameters with the characteristics of your products. It is a process of business intelligence, which tells you how you can convert them into sales. Once you have the database, it is possible to customize and personalize the business communication methods accordingly. Marketing Communication Marketing communication could be one-way or two-way. The first method focuses on SEO marketing Advertisement Video marketing Podcast marketing etc The second type of communication may involve Emails Chat Whatsapp Apps Forums etc You can streamline the communication channels with business strategies through business intelligence. The method helps you to target a growing number of audiences within a specific region, city, state, nation, or the global level.

Utilization Of Business Intelligence

The Businesses have Business intelligence which assists its managers, corporate executives and operational executives to make informed and better decisions regarding business. The Business Intelligence technology has several other usages like identifying the availability of new businesses, cutting down costs and analyzing business processes which have become inefficient and are ready for getting re-engineered. The business intelligence comprises of technology, tools, practices, and applications that assist in collecting, analyzing, integrating and presenting the raw data of an organization so as to construct actionable and intelligent business information There are some activities which are related to Business Intelligence as Business Intelligence is a process that involves technology. Following are some of the activities Reporting Data mining Querying Analytical processing online Business Intelligence and its benefits The most potential advantages of Business Intelligence are as follows: Analyzing and optimizing the business process. Accelerating new revenues. Analyzing the trend of the market. Improving the process of decision making and also accelerating the process. The level of competition between the competitors within the same sector of business increases on a daily basis. Addressing business issues that are causing problems or needs alterations. Using Business Intelligence tools and systems The systems and tools of business intelligence are DSS (Decision Support Systems). This technology is used in an interchangeable format such as query and reports tools book briefing, and execution of the information system. The analysis of the data related to the business can be done by the operators of the business single-handedly. The wait for the running of the complex analysis by IT gets over with the business intelligence technology. The access to the data and information serves the users with ideas and methods to create a back-up for their businesses with productive approaches and implementations. The business receives strength with tougher decisions without any anecdotes and drawbacks. Valuing the Business Intelligence In the recent ear of advanced technological implementations, the fuss is all about analysis of advanced information and big data. However, the business intelligence remains relevant for several aspects. The utilization of the business intelligence tools can be done to cover all the aspects of a business in the form of leverage and data. This is the main reason behind the organizations staying focus at their needs with the finest tuning towards the workflow and the pattern of analysis that helps in enhancing the initiatives towards the business intelligence and gain strength towards the analytic capabilities in the most advanced format. The need for accuracy in understanding the protocols within a business for the present, past and the future events is a must for all business irrespective of their sizes. The forecasting of future business by firms increases with the advancement in the data analytic scenario and the need of business intelligence rises with more and more related investments. The business intelligence system and its elements supports interaction, operational data, active reporting, analysis, data mining, and visualization of the present and the future by keeping track of the past activities within a business platform.