The term business intelligence is one that you hear thrown around quite a bit as a business owner. Business Intelligence (BI)–a software that allows a business owner to analyze and collect raw data – is crucial for a business’ growth and development.
BI, such as HarvestBI, assists a business with information like the demographics, shopping habits, and social behaviors of its clientele. All of these are incredibly useful for a business owner; however, when combined with social media, BI becomes immensely more helpful.
When people think of social media, they may not think of it in a business sense. While social media is great for keeping in contact with loved ones and sharing experiences, it is also a fantastic tool for gathering business data. Businesses can use social media to determine search engine optimization (SEO) metrics, gain a better understanding of a customer’s experience, and gives the business the ability to get its “personality” out to the public.
These ways are why BI and social media can go hand in hand. Businesses have to learn how to properly utilize the tools of BI – and social media can help them achieve that. In this blog post we want to identify the top ways that social media (mixed with business intelligence tools) can help put you above your competitors.
Information management is likely one of the more difficult aspects of your business operations. One way to avoid that? Utilizing social media. Instead of having pages of audience data to pour through, all that social information that a business owner would need is neatly stored in the individual’s profile. Any demographic information can be found in one place for incredibly easy data analysis.
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By having an active social media presence, you can essentially create your own community. By having people check in and all be talking about the same thing online, you can really gain new perspectives on what you are doing right or wrong and what you can do to get better practices. By allowing these communities to be one, single voice, you can really expand on ideas and better make good business decisions.
One of the best uses of the social media platform Facebook is the Events feature. People often use this as a way to promote their events and to get the word out more effectively than just word of mouth. It’s a more engaging promotional opportunity that traditional advertising, especially because you can hone in directly to your intended audience. Businesses can use this feature to learn more about their customer base, from where most are located, to the most optimal times to have events.
Social media is a great platform to really find out what customers like and do not like. You can view strategies and the best ways of getting your brand out there and recognized. You can also see where companies may have gone wrong with their message and try to learn from those mistakes.
Another really interesting feature of social media is the ability to target your advertising to the audience of your choice. Facebook, the first of the social media platforms to make this available, gives the poster the opportunity to hand pick his or her audience by choosing a location range, age group, and certain buzz words to attract the intended audience. These buzz words allow the Facebook algorithm to have the post show up at the top of anyone’s page that fits the requirements. Businesses can also choose the time frame to run the ad. This is one of the more widely-used trends in social networking and is just another example of how social media and BI can be used in unison.
Business Intelligence is often one of those umbrella terms that are thrown around in the business world but sometimes is not fully understood. Many just know it as a way of analyzing data on a consumer base; however, when partnered with social media, the opportunities expand. Customer demographics, habits and behaviors are available by simply viewing a person’s page. Social media, coupled with BI, makes data visualizations so much more useful – and engaging – for a business team.
In any business, big or small, companies are in a constant struggle with those around them to be the best. Be the business that is truly the best by using every resource available to you and learn how to properly utilize both social media and BI.
Interested in learning more about Harvest Food Solutions and how we can help your business? Give us a call to see a demo of our perishable foods software and how it can make an impact in your business.