8 Ways Business Intelligence Software Improves the Bottom Line

Can business intelligence (BI) solutions, software that helps organizations mine and analyze big data and small, help your company improve its bottom line? To find out, CIO.com asked dozens of BI experts and IT executives. Here are their eight top suggestions regarding how you can get a positive return on your BI software investment.

BI, business intelligence

1. Get fast answers to critical business questions. “Business intelligence provides data at the moment of value to a company,” says Jason Cook, chief architect & CTO, U.S. & Canada and Consumer Packaged Goods, BT Global Services. “With a [BI solution] in place, companies can extract crucial facts from a large amount of data at a rapid speed.”

“With quick access to your internal data, you can more efficiently use your time to analyze internal information and make decisions,” says Ryan Mulholland, president, Connotate, a provider of Web data monitoring and extraction solutions. For example, “as

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6 Ways to Grow Your Business By Focusing on Personal Health


5 min read

Opinions expressed by Entrepreneur contributors are their own.


In 2018, Elon Musk famously said that people need to work “80 to 100 hours per week” if they want to change the world. His comments are a reflection of the view that it is not enough to work smart — you have to work hard, too. 

Unfortunately for Mr. Musk, while working those kinds of hours helped him create successful businesses, they may take a terrible toll on his health and future ventures. Working 80-plus-hour weeks is not sustainable for most and leads to poor concentration and high levels of unsustainable stress. 

From a health perspective, therefore, Musk is not a model for entrepreneurs to follow, and even he admits that. Entrepreneurs need to guard against personal health issues so that they can guide their businesses through tough times. Working long hours is not out

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6 ways governments can encourage entrepreneurship

The final communique of the 2014 G20 Leaders’ Summit called for enhanced economic growth that could be achieved by the “promotion of competition, entrepreneurship and innovation”. There was also a call for strategies to reduce unemployment, particularly amongst youth, through the “encouragement of entrepreneurship”.

This desire to stimulate economic and job growth via the application of entrepreneurship and innovation has been a common theme in government policy since at least the 1970s. The origins of this interest can be traced back to the report produced by Professor David Birch of MIT “The Job Generation Process” that was published in 1979.

A key finding from this work was that job creation in the United States was not coming from large companies, but small independently owned businesses. It recommended that government policy should target indirect rather than direct strategies with a greater focus on the role of small firms.

Fostering the growth

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5 Ways to Protect Your Business and Personal Credit Scores During a Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


Between uncertain cash flow and concern over how to meet financial obligations such as payroll and bills, it’s a stressful time to be a small-business owner. Many entrepreneurs are experiencing the same anxieties over unemployment, debt and financial sustainability. Your personal and business credit scores could take a hit if you have to miss payments due to a cash shortfall. 

Related: The Zero-Sum Mindset: How to Avoid Toxic Thinking in Moments of Crisis

Implement these strategies to help protect your credit score while we wait for the pandemic to pass:

1. Regularly review bank accounts for any suspicious activity.

Unfortunately, crises and the financial relief that often follows seem to bring out fraudsters and criminals. That’s certainly true in the current crisis with the CARES Act, which has already prompted its share of scams targeting your

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5 Ways Business Intelligence and Online Marketing Can Work Together

business intelligence

When you really think about it, online marketing and business intelligence were born to work with each other. Both fields are built on utilizing data to make decisions in order to improve processes and optimize ROI (return on investment). However, for many companies, business intelligence continues to be an elusive concept that never quite finds its way to the top of the priority list.

In my experience, once you learn how synergistic these two disciplines can be, it makes sense to prioritize their integration. From advertising to audience research, below are five great ways that business intelligence and online marketing can work together.



Business Intelligence and Online Marketing Can Work Together

Advertising

Providing comprehensive target audience data across offline and online platforms can help campaigns be more targeted. Business intelligence allows companies to craft their ideal audience behavior patterns across multiple forms of media — including television, radio,

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10 Ways to Market Your Small Business on a Shoestring Budget

When budgets are tight, online marketing might be the first expense you look to cut.

Let me stop you right there.

While traditional advertising methods are costly and hard to measure, small businesses have never had greater access to cost-effective, trackable marketing tools.

But with so many digital tools available, how do you know where to start?

Email marketing is the tried and true digital marketing channel with an average return of $38 for every $1 spent.

TIP: Looking for help navigating your small business through the COVID-19 crisis? We’ve got you covered. We just released our Small Business Support Kits in response to this crisis. Check them out for the tools and guidance you need to get through this challenging situation.

Small business marketing services are just the start. Here are ten marketing strategies that can help you market your small business on a shoestring budget.

1. Craft

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5 ways technology is transforming finance

New report: The Future of FinTech: A Paradigm Shift in Small Business Finance

For decades, banks and insurers have employed the same relatively static, highly profitable business models. But today they find themselves confronted on all sides by innovators seeking to disrupt their businesses. Crowdfunding, peer-to-peer lenders, mobile payments, bitcoin, robo-advisers – there seems to be no end to the diversity, or to the sky-high valuations, of these “fintech” innovators.

Yet, some might note that they have heard this tune before. The direct banks and “digi-cash” of the 90s captured the imagination of journalists and investors in a similar fashion, but ultimately had little impact. In fact, the financial services industry has been remarkably impervious to past assaults by innovators, partially due to the importance that scale, trust and regulatory know-how have traditionally played in this space.

However, as they say in investing, “past performance is not an indicator of

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3 Ways Business Intelligence Can Improve Your Sales and Marketing Efforts : Intelligent Enterprise



With today’s business intelligence dashboards, end users in every department of the organization have a more effective means of gaining greater insight into their side of the business without having to go back to IT or business analysts for more data. And that data in the hands of your sales and marketing team in particular can mean huge improvements for those departments.

Here are three ways business intelligence software can help improve your sales and marketing efforts.

Identify and focus on higher-profit customers.

Your best customer might not actually be the one who places the biggest order (although every sales team loves to land a “big fish”), but rather those dependable, repeat customers who consistently place good sized orders. With business intelligence software, you can rank your customers based on the recency, frequency, and value of their purchases to

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Cheap Ways To Promote Your Business As An Entrepreneur

Cheap Ways To Promote Your Business

At the early stages of a business, the goal should be to increase revenue, minimise cost and maximise profit. Therefore, you have to find creative cheap ways to promote your business. There are so many ways you can do that as an entrepreneur, and I’m going to hold your hand and show you the way.

Cheap Ways To Promote Your Business

Maximise Your Social Media Presence

There are more than 2.23 billion users on Facebook, 1 billion users on Instagram and 335 million users on Twitter. This means your customers are hanging out on social media.

It’s increasingly becoming impossible to grow your sales and customer base without a social media presence. Today’s businesses need to be savvy on social media because that’s where their customers are. A strong social media presence is one of the cheap ways to promote your business as an entrepreneur.

It’s no longer enough to

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4 Ways to Use Business Intelligence in Your Company

Smart companies are adopting new technologies, such as business intelligence to get ahead. This helps them take advantage of opportunities, quickly respond to challenges and overcome threats.

According to inc.com, analyzing data can help transform performance, boost revenue, increase profits and improve customer satisfaction and retention.

Many companies are using business intelligence (BI) software to do this. BI is one of the quickest and easiest ways to analyze company data leading to better business decisions.

Companies generate lots of data on a daily basis. This data includes information about sales, marketing, inventory and finance.

Business leaders often rely on experience and ‘gut-instinct’ to make decisions. However, it’s important to know how to use company data to make ‘fact-based’ decisions and reduce human error.

Fact-based decision making enables companies to adjust to changes in their industry. A good BI solution makes this easy and available to anyone, not just IT experts.

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