What are the objectives of business intelligence

Darryl Bachmeier
Mar 13, 2019

It is known as business intelligence or business intelligence, the set of techniques, strategies, and technology that through the measurement and subsequent analysis of data, seeks to improve the task of those responsible for a store and help them achieve their business objectives. The main objectives of business intelligence are:

  1. Collect all possible data about the clientele

Among these data are:

The number of people entering the store at different times of the day. This is done through an advanced person counter. Tour they make inside the premises. Websites that visit from their mobile phones through the free Wi-fi provided by the store.

  1. Analyze the data collected

A set of numbers is useless if they are not interpreted. Business intelligence technology, in its current state, provides automated solutions for this.

This way, among other issues, you can find out which are the most and least crowded days and hours or which are the sectors of the store that go unnoticed in the eyes of customers.

  1. Develop strategies to increase profits

With the tools provided by business intelligence and based on the data collected and its subsequent analysis and interpretation, it is intended to develop strategies to increase profits. It will be looked for:

Increase the percentage of purchase, that is, search that each person who enters the premises becomes a customer. Loyalty to customers. Get them to return and become regular customers. Reduce expenses. Eliminate unnecessary actions and issues that report losses to the business and do not provide any benefit that compensates them.

  1. Allow constant control of the person in charge of the store

Under the premise that delegating tasks is important, but your supervision should never be abandoned, business intelligence gives the person responsible for the store the possibility of having in real time all the data it needs to make the right decisions.

For example, through a good Shop Managers app, it is possible to know in real time issues such as traffic, conversion rate, and other relevant KPIs.

An action that provides concrete results All the objectives as mentioned earlier, which previously had to be reached with a long and complex analysis, or through the simple intuition of the merchants, are now achievable through business intelligence.

Simply apply these technologies and strategies to start seeing the results and enjoy the benefits.

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