Understanding Marketing Intelligence Reports
Gathering data is an important step towards understanding your market, but it is how you interpret that data that really counts.
Getting To Grips With Marketing Intelligence Reports
Market intelligence is key if you wish to outperform your competitors and stay one step ahead in your chosen industry. However, over the years, the way in which market intelligence is gathered has changed considerably.
Nowadays, successful companies know that market intelligence is far more encompassing than it once was and that analysis and analytics play a huge role in determining the best way in which your campaign should be conducted.
While this move has resulted in a much greater depth to market intelligence, deciphering the reports that you receive can sometimes be a challenge. Information will come from multiple sources in order to give you an overall picture of the market, its customers, their problems, your competition and what the growth potential is like in specific areas. However, none of this is of any use if you do not know how to interpret what has been put before you.
Getting To Grips With Market Intelligence
Any savvy business owner will know that this information is gold, so they will be keen to extract as much from the data as possible. Thankfully, there is now an easier way than poring over sheets and sheets of numbers and graphs, and it comes down to the huge advancements that have been made in the world of technology.
Technology is ultimately responsible for the increase in the amount of data that is now available to those who wish to receive detailed information on their marketing efforts, their sector and what is working (as well as what is not) for their competitors. It, therefore, should come as no surprise that the solution to deciphering such copious amounts of data comes from the technological sector too, namely in the form of Microsoft SQL.
Microsoft SQL allows business owners to hold a marketing intelligence data warehouse that will efficiently store and cross-examine all of the data available and prepare it for analysis. The output is then compiled in a user friendly fashion utilising common software packages, such as Microsoft Excel’s Power Tools, to present the facts and figures that you require in order to make the important decisions relevant to your own individual campaigns and goals.
The Benefits Of Knowing Your Marketing Metrics
Performing market intelligence via a database model can be an extremely powerful way to extract the data that many of your competitors may well have overlooked. However, turning the hard data into actionable metrics that can be read and understood by company executives can prove to be challenging when dealt with in house.
Thankfully, there are better ways to handle this raw data. Specialists in Microsoft SQL, such as Objective IT, can help your company build reports that will allow the people that matter within your company to make the right decisions at the right time for your business.
Being able to mine and then translate vital marketing data is becoming increasingly important in all manner of business sectors. Big data is here to stay, so if you want to remain one step ahead of your competitors, having the knowledge and insight that in depth data analysis can bring is absolutely essential to the health of your business.
Karen Harding is the marketing manager at Objective IT, one of the South East’s leading web and software development companies.
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