What is a Business Intelligence Platform and How Can It Fuel Your Business’ Growth?

What is a Business Intelligence Platform and How Can It Fuel Your Business’ Growth?

What is Business Intelligence?

Business intelligence (BI) turns data into actionable insights that in their turn are used in software and services, helping companies to make informed strategic business decisions using a diverse suite of software and services.

BI relies on using business intelligence software (BI software), as a set of tools for sourcing, sorting, consolidation, and analysis, designed to present complex data into intuitive reports that become a source of valuable insights.

The list of technologies, involved with data collection, is huge and diverse. Among others, it includes company data providers such as Hoover’s, Duedil, ZoomInfo and Global Database, that offer an important contribution to efficient BI data collection.  

The Global Database platform is a source of business insights for things like company financial state and credit risk, technology a company uses and its executives, and direct access to the decision makers directly (for countries that aren’t subject to GDPR).

If you’re targeting an EU country or any other country where the GDPR is adopted, our business intelligence platform still has multiple filter options, designed to carefully segment your audience and build precise lists featuring only those businesses that will potentially be interested in your product or service.

What is business intelligence software and how does it work?

Business intelligence software is designed to automatically collect and analyse business data through data mining, performance benchmarking, process analysis etc. It brings the relationship between data to the surface, allowing you to better allocate resources and make more informed decisions.

How can a business benefit from BI software?

By and large, any software handling impressive amounts of data, collecting and processing them and offering you insights in the form of reports, charts or stats, can be named BI software, whether you’re exploring your own company or that of your clients or competitors. So which are the key areas where BI can bring the most benefit to a business?

BI in Sales

The combination of traditional BI, informing you on customer's background, and real-time BI, which compares current customer’s activities with their historical behavioural patterns, affords you react accordingly. This mixture is embodied in well-known CRM systems like Zoho or Salesforce.

However, any CRM can only be as good as the data it's based on. It's crucial that this data is relevant, always up-to-date and regularly added to. One of the most reliable data sources of this kind is business data providers, such as Global Database.

BI in Marketing

Another way to use business intelligence to your business’s favour is to make sure your marketing efforts reach the target directly, thus boosting the sales for your products or services. Join over 90% of Sales & Marketing teams using BI for getting their work done in 2018.

Our vast business contacts database allows you to contact the decision makers in any organisation. You can narrow your campaigns down to the audience that is most likely to be interested in your products, applying industry, company size, location, revenue and other filters to your search.  

BI in Business Development

Any business that is hoping to grow and increase revenue needs to close a steady stream of sales as well as find reliable business partners and suppliers. BI helps you reduce the amount of risk in a potential business deal by performing a background check on a company first. Global Database supplies its users with valuable information such as finances, mortgages, charges, and credit scores.

Moreover, BI and Global Database in particular can help you with staying ahead of the competition or find new opportunities for your business. We supply valuable digital insights, like monthly web traffic, total traffic for a six month period, traffic by country, Alexa rank, and top organic keywords.

BI in HR

Struggling to find the perfect candidate for a position? BI can give you a helping hand, allowing you to look into the person’s background and decide whether they’re a good fit for your company.

Unlike some other providers, Global Database contains data on employees at all levels, not just seniors. You can search the database by job title, seniority level, industry and location, and then reach the most appropriate candidates directly.

Business Intelligence services

BI serves as a base for multiple services, all designed with the goal of making your business operations more efficient and effective. Companies can optimise the usage of different data types and transform it into fuel for the business development engine, using services like BI consulting, BI development, BI testing, BI health check, Data visualization and dashboarding and many more.

The benefits of these types of services are very solid:

• Processes automation and facilitation

• Cost reduction

• Informed decision making

• Competitive advantage provision

• Easy integration with other platforms and apps

• …. To name just a few.

Business intelligence is an essential part of ensuring success in business today. It provides valuable insights for practically every aspect of your operations, from HR and product development to marketing and sales. In order to get the most out of the process, it's vital to have a wide variety and large volume of data to analyse, as well as the right tools and people to manage it effectively.

If you're under the impression that BI is a very complex and expensive process, we're happy to let you know this isn't always the case. Nowadays there are huge amounts of both data and analysis tools freely available online - you just need to know where to find them.

Find out, why the business analyst is the profession of the future, discover the top-10 free BI tools, learn more about BI services, the types of Business Intelligence used in business and the advantages of the emotional intelligence for business, in Global Database blog. Read the whole article here - https://www.globaldatabase.com/what-is-a-business-intelligence-platform-and-how-can-it-fuel-your-business-growth