The corporate world is going head over heels with ‘data’. However, you don’t hear much about ‘data intelligence’.
Whilst everyone is on the same page on how important data is to any business, we’d go as far as putting the same amount of importance on ‘data intelligence’.
What is Data Intelligence?
Now a lot of people tend to use business intelligence and data intelligence interchangeably. That’s where perhaps most go wrong in understanding what is data intelligence in the first place.
Simply put, data intelligence is an organization’s ability to comprehend the data collected from various sources and in multiple formats and use it to maximize business output and boost efficiency to achieve future goals.
In a nutshell, data intelligence,
- Offers a complete 360 overview of all business specific processes
- Is instrumental in driving business transformation by understanding systems, processes and customers
- Is vital when it comes to developing new products and services
- Helps foster a data driven culture in the organization
Data intelligence is much more than analytics. Tools like the SAP Data Intelligence platform helps business enterprises make better, data driven decisions enabling them to become an industry leader.
Can Data Intelligence Bring Success to Your Business?
SAP Consulting suggests that if data intelligence is used as per best practices, business success is imminent.
Here’s a look at how data intelligence can play a vital role in improving your business.
- Understand your customers with better insights collected across various customer touchpoints
- Analyze complex behavior to broaden and deepen your understanding of market dynamics
- Make your supply chain management more agile
- Refine audience targeting and personalize recommendations to suit consumer preferences
- Optimize business processes, boost productivity, make systems more cost efficient and enhance customer satisfaction
In addition to the above, data intelligence is vital when it comes to future proofing your business enterprise against significant pitfalls.
Why Does Data Intelligence Matter to Your Business?
Investing in data intelligence can bring massive payoffs for business enterprises in the long run, suggests SAP Partners.
Not only does it help in reducing risk whilst optimizing benefits, but it enables organizations to function more efficiently.
The biggest advantage of data intelligence is putting in place a system that improves customer interactions. This is possible as the tool is constantly profiling and segmenting customers taking into account common characteristics and behaviors that allow the business to have a more comprehensive understanding of their target audiences and groups.
The business can then serve to their tailormade experiences and deliver their promise to near accuracy.
Transcending customer insights, data intelligence can play a key role in refining the organization’s marketing strategies. Analysing national, regional, and local sales patterns, and combining them with historical data enables marketing teams to fine tune their plans and be better equipped to meet market demands.
Budgeting and investments are other areas that benefit from the integration of data intelligence. Business enterprises can evaluate how the budgets have been deployed by tracking the progress of their investments using data intelligence.
Tools such as the SAP Data Intelligence platform can effectively transform your business towards achieving greater heights of success. To learn more about data intelligence systems, speak to an expert from MDSap, one of the top SAP Partners in UAE to understand how your business can benefit from this technology.