Commonly used marketing intelligence to create an effective marketing strategy. Use what it is and its best methods, cases, studies, and tools.
Marketing intelligence is any multi-formed and data-based information that can be used to create an effective marketing strategy. Information about your customers, your efforts, and your competitors will help you gain knowledge around the pillars of marketing: product, price, promotion, placement. Marketing intelligence is part of business intelligence. Business intelligence is all the data you collect to make strategic decisions and monitor your health or your company, and marketing intelligence is specific to your marketing efforts in many areas, including finance, HR, and operations.
Business Intelligence helps you understand why your marketing level. Why do I pay attention to the dimensions I look at? Why am I doing this campaign? The main goals that work against you, the main business results. Business Intelligence Data on marketing strategies, strategies, customer retention, sales volume, hiring costs, etc. – data that influences marketing, but should not be part of marketing activities.
Marketing intelligence is the integration of your inner information so that you can gather what is happening to your customers, competitors and, the general cultural landscape. The action you take to achieve your goals and the data that will help you understand if your efforts are working.
Indicates how Artificial Intelligence – a technology that you can use to synchronize and analyze that information in a spreadsheet or using any type of machine learning assisted model. One of the biggest challenges facing marketing intelligence is the amount of marketing data we have to fight. Artificial intelligence enables us to process this data and quickly reach functional insights.
However, market intelligence is not like business intelligence. Market intelligence collects data while focusing on internal factors such as business intelligence billing rates, headcount, process, etc., giving you a comprehensive view of not only your organization but the entire market. However, combining market intelligence with business intelligence processes will enable a company to gain a holistic view of current corporate performance in specific market conditions.
Information is different from intellect. Information is not useful until it makes sense. There are various market intelligence software on the market. Such software not only allows you to collect data but also to analyze data using advanced analysis methods. Analyzing the information collected helps you to transform it into valuable market intelligence so that a company can understand target market opinions, trends, competition, improvements or, the need for improvements.