Business intelligence in marketing: end-to-end solution overview
June 23, 2023
Business intelligence for marketing: top 7 use cases
Business analytics is a solid foundation for many marketing activities. Let's have a look at how business intelligence is applied in the marketing field.
Identifying and targeting the right audience
Companies can target the right segments with the right message at the right time by collecting and processing customer demographic information, preferred product lines and services, interaction patterns, and purchasing habits from multiple channels, including the company’s website, corporate applications, social media platforms, and third-party sources.
Calculating customer lifetime value
The marketing team can track customer lifetime value to focus their efforts more effectively, target the most profitable customers, and identify new audiences worth engaging with.
Measuring marketing campaigns’ performance
Marketing BI adopters can determine the best-performing marketing tactics to focus on the most effective methods, abandon or revamp marketing strategies, optimize marketing budget allocation, and identify cost-saving opportunities.
Building a customer golden record
Using BI, marketers can get a 360-degree customer view with data from different heterogeneous sources and use it to personalize multi-channel interactions and marketing activities, allocate marketing efforts more wisely, and create customer journey maps.
Assisting with product development
Marketers can gain a deep understanding of the target market, the most profitable customer segments, a potential customer base, customer feedback and sentiment, and competitor offering and let the product management team know about the spotted gaps in the market.
Marketing specialists can easily research market trends and competitor marketing campaigns and conduct an advanced analysis of a competitor’s audience. Using this information, they can assess competitors’ marketing practices for specific channels, find new customer segments, and adjust current marketing efforts (change pricing, increase marketing spend for a particular channel, target different demographics, etc.).
Developing marketing campaigns and strategies
Companies can use disparate data on marketing performance (website visits, goal completion rates, leads, conversion rates, and ROI) to create new campaigns, merchandising activities, and loyalty programs or refine the existing ones.
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Essential integrations for BI in marketing
Here are the most commonly used data sources in marketing that are worth integrating with marketing BI:
Customer service software
Email marketing software
Web analytics and paid ads platforms
Mobile marketing software
Social media analytics platforms
Market research platforms
Key integration options
- Personal customer data (age, sex, marital status, address, job title)
- Contact data
- Purchasing history
- Notes/observations about the customer
- Customer characteristics and behavior patterns
- Customer complaints
Real-life example of BI for marketing
The customer is a leading digital media company that uses its marketing platform to promote its clients via organic and paid promotion methods. The company decided to revamp its data analysis and visualization processes to monitor and predict ad campaigns’ progress more effectively. Itransition developed a set of analytics optimization solutions equipped with dynamic dashboards and customizable campaign-specific benchmarks, which has helped the customer make realistic forecasts and real-time predictions, as well as monitor advertising campaign performance through user-friendly dashboards. With a newly implemented analyticбs solution, the customer managed to improve benchmark achievement by 8x and reduce overspending by 7x.
improved benchmark achievement
Top business intelligence tools for marketing
Traditionally, full-scale business intelligence solutions for marketing are built with the following software:
- Data integration and quality management software to help manage and automate data gathering, transformation, cleansing, and other tasks and prepare data for storage and analysis.
- Database management systems for structuring and storing consolidated data in a central data warehouse for further analysis.
- BI tool and data analytics software for analyzing, delivering, and visualizing business information to help marketing teams monitor KPIs, track progress, and spot inefficiencies.
- Connects to hundreds of data sources in the cloud and on-premises, including Salesforce, Google Analytics, Excel
- Native integration with Microsoft products, including Azure Data Lake Storage Gen2, Azure Synapse Analytics, Azure SQL database, Azure Machine Learning Studio
- Support for DAX, Power Query, SQL, R, and Python
- Advanced AI (text analytics, image detection, automated ML)
- Self-service data preparation, analysis, reporting, and visualization
- Pre-built and custom visuals
- NLP capabilities
- Team commenting and content subscriptions
- Mobile support
- Embedded BI
- Row-level and object-level security, user authentication, data encryption, data sensitivity labels
Power BI Desktop
Power BI Pro
$9.99 per user/month
Power BI Premium
$20 per user/month or $4,995 per capacity/month with an annual subscription
2-month free trial for each new user
- Data handling capacity for a free version is relatively limited
Marketing BI software selection checklist
Here is the list of critical capabilities you should look for in a BI solution for marketing:
- Vast data source connectivity to connect to and ingest marketing data in various formats from multiple storage platforms, both on-premises and the cloud
- Complex data models support for comprehensive marketing analytics
- Self-service data preparation for combining marketing data from different sources and creating analytic models without IT teams’ help
- ML-based analytics for automatically generating analytics insights for marketing departments
- Natural language generation and data querying for describing marketing insights found in data and querying data with business terms
- Data visualization, including the support of common chart forms (bar/column, line/area, pie, and geographic maps) as well as highly interactive dashboards
- Reporting capabilities to distribute reports on a scheduled basis
- Highly interactive dashboards and visual data exploration
- Embedded analytics capabilities to seamlessly integrate valuable insights into the marketing process
- Security capabilities for user administration and authentication and platform access audit
- Data governance for managing and controlling marketing data flows
- Data catalogs to quickly access the required analytics content
- Cloud support
Need to choose optimal technology for your marketing BI project?
6 reasons for investing in BI for marketing
Effective marketing campaigns
BI tools help marketing specialists measure promotion effectiveness and identify strategies that work best, as well as areas of improvement for low-selling products, and effectively execute their upsell and cross-sell campaigns.
Enhanced customer experience
Comprehensive omnichannel customer insights delivered by BI software empower marketing teams to target the audience with tailored offerings, personalize every customer interaction, and deliver the best customer experience to increase customer loyalty and CLV.
BI software enables effective customer segmentation and accurate customer lifetime value tracking, helping marketers to focus on the most profitable customers, timely identify new customer segments, and retain high-value customers.
Optimized marketing spend
BI tools can identify how advertisements, promotional activities, and executed marketing campaigns influence the bottom line. This way, marketing teams can implement the most effective marketing activities and identify areas where marketing teams can cut costs.
Improved user productivity
By automating manual, repetitive tasks (data inputting and cleansing, report generation), marketers can prevent inefficiency bottlenecks, prioritize more critical business workflows, and have more time for high-priority activities.
Enhanced data security and compliance
Integrated data security and governance capabilities help marketing specialists identify where business data resides, track data workflows, and control data access according to user roles to prevent data loss, manipulation, and sensitive data exposure.
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Business intelligence services and solutions
BI services for companies to gain valuable insights from business data, quickly optimize business processes, and spot improvement opportunities.
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Find out how Itransition's data visualization solutions can help you seize key business insights from your data and enhance your decision-making.
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