Business intelligence is essential for business growth. Business intelligence involves looking at market trends, gathering customers' demands and having a comprehensive view of your organization's data. These help drive change, increase performance, eliminate inefficiencies and quick adaptation to demand and supply changes.

What is Business Intelligence (BI)? 

Business Intelligence is the collection, integration, analysis and presentation of business information for business performance. BI offers a way for people to examine data which helps to understand and derive insights on market trends necessary to make sound business decisions. 

Business Intelligence involves several processes to help create a comprehensive view of your business to help you make better and actionable decisions. These processes involve the following: 
i. Reporting 
ii. Performance metrics
iii. Descriptive analytics 
iv. Visual analysis
v. Data preparation  
vi. Data visualization 
vii. Statistical analysis

Why Business Intelligence is Important

1. It helps to identify ways to increase profit.
2. It analyzes customer behavior.
3. It tracks employees and service performance.
4. It aids better decision-making.
5. It optimizes operations.
6. It predicts business success.
7. It helps to spot market trends.
8. It helps to discover issues or problems.

Running a Successful Business Intelligence with Lobbybase 

Lobbybase is a business intelligence software that is used to derive, analyze, and transform data into useful business insights. Having established that business intelligence is crucial to your business growth as it helps you make smarter, better and data-driven decisions, having the right tool to carry out your business intelligence is important. Lobbybase, as a business intelligence software, helps you conduct a successful business intelligence in your organization.

1. Lobbybase helps you to cut survey costs and inefficiencies of survey companies. You can easily get firsthand information from your customers when they are in your workplace. Lobbybase captures different market surveys from your customers. As customers come into your organization and check in using Lobbybase, you can customize different market survey questions on the Lobbybase so as to know and understand market trends. 

2. Lobbybase collects information from your customers. Do you need to gather information like "how did you hear about us?", "where are you from?" and other related questions to measure the effectiveness of your marketing strategies? You can customize different information on Lobbybase in order to measure your marketing effectiveness. As customers come into your organization, Lobbybase gathers information from internal source rather than outside. With this, you will be able to strengthen your strategies where necessary. 

3. Feedback is also an important part of business analysis. For a successful business intelligence, having customers' feedback which gives clues to their wants and behaviors is very important. Turning on the feedback feature on the Lobbybase records feedback from your customers as they are leaving your workplace. 

4. Understanding market trends is essential to business growth. Taking market trends manually hasn't been effective and doesn't help to resolve business problems. Lobbybase, as a business analysis software helps to understand market trends. Have you noticed that customers rush in at a particular time to your organization? Do you know why? Have you noticed that at a particular time of the year the rate people demand for your products and services is very high and at this time, you find it hard to deliver the demands? Studying your business trends using Lobbybase which helps you understand market trend. As customers come into your organization, Lobbybase takes note of why they are in your place and what they have come to do. Understanding your market trends will help you to deliver maximally and enables quick adaptation to demand changes. 

5. One of the ways to measure a successful business intelligence is through performance metrics. Keeping record of your employees and organizational performance might be a daunting task. It becomes less daunting with Lobbybase. As customers check out, you can gather information for performance metrics such as who attended to them and how well they were attended to. Lobbybase is a self-service system which encourages customer privacy and transparency. 

6. As part of your business intelligence processes, spotting customer frequency and engagement is important. Monitoring this without a business intelligence software is a difficult task. With Lobbybase, you can monitor your customer frequency and engagement seamlessly, which helps serve your customers better. Also, you can survey your customer service and experience.  

Lobbybase gathers all the information necessary for your business intelligence and saves them in the cloud. There is no fear of losing your data. You have access to your business data at anytime which enables all the processes involved in running a business intelligence.

Lobbybase makes business analysis effective and efficient. Business analysts will be able to focus more on increasing revenues and sales, solving business problems while Lobbybase helps to survey and gather necessary data. With our business intelligence software, you can run your organization smoother and more efficiently. 

Sign up on Lobbybase for a 14-day free trial to enjoy running a successful business intelligence in your organization.