Business Intelligence for E-commerce

WHAT IS BUSINESS INTELLIGENCE?

Business Intelligence (BI) software is software that collects, analyzes, and presents business information and big data. The software, if implemented correctly, saves you time and energy while giving you important information about your business and customers. BI software is able to take all of your raw data, make sense of it, and show you the information that counts. Business intelligence helps companies make more informed and better decisions about marketing, sales, and numerous other areas of their business.

Information is the basis for decision making. The timely availability of accurate information or lack thereof can make or break a business. It does not matter if it is a physical store/warehouse or an eCommerce business. Timely and accurate information determines if your company is going to be at the top of the market or will barely make it out of  the gate.

BI IMPROVES DECISION MAKING

According to a survey done by Helical IT, decisions made by using data, instead of intuition, make the chances of success 79% greater. The key purpose of business intelligence is to help your company make smarter decisions quickly. Data from the past and present about pricing and competition analyzed by business Intelligence software can help you make the right decisions about how to competitively price your products. BI software is able to evaluate your data and create custom reports to help you make more informed decisions.