Business Intelligence as a concept only started in the late ’90s but business owners understood and practiced the premise organically ever since the barter system was created. You see revenue increase or decrease on particular days and try to find out why and how to benefit from it. When Businesses went digital the process evolved even further and technical tools and terms were created to help the process.
Data Mining started as knowledge discovery in databases in 1989 but that name was deemed too much of a mouthful and renamed. The basic principle is the same though, trying to find patterns in large sets of data with the help of machine learning, statistics, and various systems. Terms like Data Mining and Big Data all fall under the large umbrella of data analytics. Business Intelligence as a concept tries to take advantage of the information obtained from these analytics.
The evolution of Social Media was the key that turned the tide towards the importance of information, to that end we all need to thank Facebook for the dramatic rise of similar platforms. With the different platforms available the amount of data that is produced and is accessible for the study is truly infinite and analyzing this for the benefit of your business is a gargantuan task.
These days the content that a company puts out is of extreme importance as the more engaged a user is with the product the more accurate the data that can be derived from the experience. Even a single piece of popular content can significantly impact the performance of any company. But it is harder than ever to retain an audience as the attention span of most users stands at a limited 8 seconds.
‘Who sees what’ is very important and is the core of a good content strategy, understanding your core audience is extremely important. Organizations across the world spent millions of dollars on answering this question and when you do find a good answer the response is easily seen. For a corporate marketing team understanding specific consumer behavior becomes a lot easier if they already know the viewership patterns of the same consumer base. Logical conclusions based on these patterns are accurate enough to net a significant advantage over any competitors.
Once you start focusing on the concept of content intelligence, you’ll understand why it is important and what tools are most useful to your line of business. The process is always better when personalized decisions can be made.
