Benefits Of Implementing Business Intelligence Systems

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Benefits of Implementing Business Intelligence Systems There are a variety of benefits when it comes to implementing a business intelligence system. Because the nature of business intelligence is to gather data about customers and analyze the information possessed, it leads to the idea that business intelligence systems can help create better customer relationships. This is due to the fact that the company has a better understanding of what their customers desire and therefore, are able to serve them better. When customers are happy and their needs are fulfilled, the company is able to create customer loyalty, in which customers feel confident in returning to a company with their business because they know they can expect a pleasant transaction. With customer loyalty and better customer relationships also comes an improvement in sales. Customers frequently return to conduct business, as well as alert others of the company via word of mouth. This can generate more revenue for the company. However, there is another way that business intelligence systems can lead to an improvement of sales. Business intelligence can help companies determine how to promote and advertise their products to potential customers. For example, in the grocery industry, companies can promote certain products by sending out coupons to their customers that are likely to purchase that item. When the customer receives the coupon, they are more likely to purchase the item, whether or not they had
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