Business Intelligence – the next logical step in digital marketing
Today’s Challenges for Business Intelligence
The need to have markets, competitors and innovations up to date and analysable for daily business operations is constantly growing. In today’s business world, where product development, marketing and customer service are becoming increasingly dynamic and personalized, including through the integration of Big Data analysis, for business success, executives will be increasingly dependent on the ability to make quick and effective decisions based on automated analysis and messaging. This also means that decision-makers need access to this information everywhere and on every terminal.
Here, Business Intelligence (BI) in conjunction with specially configurable editorial systems (so-called newsrooms) address this problem and, thanks to highly dynamic and variable parameterization, provide exactly the information (What-if analyses, highly selective message selection also in niche markets) that decision-makers need. Content marketing today is still too much concerned with SEO and the optimal distribution of high-quality information and not with its analysis, which is partly generated automatically – practically as a waste product.
Today’s projects within the scope of Business Intelligence
For years, companies and organizations have relied on BI solutions that automatically generate information to verify a review of business objectives. For example, companies use this information to measure and improve business processes; compile financial results from across the enterprise; collect customer data to analyze them to improve customer acquisition and retention. Precisely in these processes, the most diverse data protection regulations have to be observed, which are regulated nationally but are too different internationally to implement processes unambiguously.
Lack of integration content marketing and business intelligence
While performing these tasks, most users rely on data provided by IT in the form of reports or dashboards. Status quo of today’s reports or dashboards is that they are usually outdated and not representative for a deeper analysis. Also, data, information and analyses from marketing and sales cannot usually be integrated. Many business intelligence systems today have a shadowy existence in the reporting and controlling of companies. The dynamics of the markets or the special requirements in niche markets cannot be grasped and therefore decisions can only be made with great uncertainty. Moreover, such systems do not adequately integrate and interpret the wealth of information from social media marketing and content marketing.
The unit Social Media Marketing, Content Marketing and Business Intelligence
As summarized in the study by CDW (2013),”There is a growing need for easy-to-use BI Solutions that provide up-to-date interactive access to information”, the following demands can be made on modern and effective information management in the company:
- SEO and campaign management have to provide historical and up-to-date data for daily updated analyses (there are already different methods of analysis available)
- E-commerce and web portals with their highly specific information and blogs form the basis for their own, external data and information procurement (content marketing strategy)
- Dynamic content producers linked to various social media methods provide social network data for effective customer relationship management (CRM).
- This eliminates the current disadvantages of Business Intelligence (BI) systems, as the analysis is now extended to include current market and social media data.
Outlook: Analysis requirement creates new marketing mix
The high demands on the information management of companies today will in future be reflected in the complete “reorganization” of the marketing mix. Marketing considerations will no longer be dominated by the classical areas (product, price, promotion, placement) but rather by the requirements from the point of view of business intelligence (BI) and the central marketing objectives:
- Goal 1: Become an expert and be recognized as an expert (know-how leadership)
- Goal 2: Gain a serious status in social network marketing (social networking)
- Goal 3: Successfully support sales (sales promotion)
- Goal 4: Implement portal and content marketing as a central information source in the company (Portal and Content Marketing Strategy)
- Goal 5: Put Corporate Behaviour at the centre of internal marketing (HR Marketing) and
- Goal 6: Implement successful global business development in the company (Optimized Time to Market).
These goals are supported by appropriate marketing methods and tools (a further blog post deals with this problem). Through this approach to marketing, it is now also possible to better understand the reports that claim that in future the CMO will also be the CIO and thus responsible for the company’s business intelligence (and, of course, for the integration of IT service management and IT concepts within the framework of the company-wide IT strategy). It remains exciting, because it is precisely with such a viewpoint that the CTO also comes under pressure. Many companies are already seeing that strategic technological decisions are always made more by the CMO than by the CTO.