Custom Business Intelligence and Consulting Services

Boost your business's decision-making power with business intelligence and consulting. Learn how BI consulting can transform data into actionable insights.

POST UPDATED:

May 9, 2024

Business Intelligence Consulting

Are you struggling to make sense of the vast amounts of data your marketing efforts generate? Do you wish you could predict customer behavior shifts before they impact your bottom line? The ability to analyze data and extract actionable insights at a rapid pace is essential for business survival.

Many companies collect and analyze their data. But those that know how to use business intelligence and consulting processes to turn those insights into action hold the key to success.

Table of Contents

    Why businesses should implement analytics and BI

    Data analytics have become an unavoidable aspect of business and marketing for several reasons.

    First, the world moves much faster now. Brands that want to develop an exceptional customer experience and competitive edge must be able to adjust in a short time. They need information that enables them to anticipate and adjust to the market environment. Otherwise, they risk falling behind.

    The margin of error has narrowed. Most businesses have fewer opportunities to “get it right.” That means every choice can have a greater impact on your organization’s success. So, you need access to business data that will help you make the right decisions at the right time.

    Business operations and marketing are becoming more expensive. In an era of AI, machine learning, and rising advertising costs, brands must be smart with their budgets. Companies that business intelligence solutions can optimize operational efficiency and ROI on marketing campaigns. In the long run, optimization can save tens of thousands of dollars or more, depending on the size of the company.

    But data management, analysis, and visualization are complex. These processes can be overwhelming for companies without the expertise and resources.

    This is where business intelligence and consulting comes into play.

    Business intelligence consulting services give companies powerful insights to help them streamline processes. Consultants can merge many sources of data into one. Then, they can provide visualization that reveals valuable insights. As a result, brand leadership can develop a plan to improve operations and marketing.

    An effective consultant will create custom solutions that fit specific business needs. Solutions include industry requirements, workflow, and user experience.

    Benefits of Marketing Analytics Consulting (Click to expand)

    What is business intelligence?

    Business intelligence (BI) is a term used to describe data management strategies and technologies. BI tools and techniques let organizations merge, analyze, and extract insights from several data sources. This process is called data warehousing.

    BI technologies can transform raw data into useful information to aid decision-making. These technologies include:

    • Advanced analytics
    • Machine learning
    • Predictive modeling
    • Artificial intelligence (AI)

    These tools help process structured and unstructured data. Data integration software provides visual representations of data using dashboards and charts. These visualizations make it easier to apply insights to your brand strategy.

    BI technologies provide deeper insights into customer behavior, market trends, and business performance. Businesses can use this information to gain a competitive advantage and achieve long-term stability. Here's how:

    • Data processed by BI tools enables companies to identify opportunities that have gone unnoticed.
    • Organizations can improve marketing and retention strategies by analyzing customer purchase history.
    • BI solutions can also help businesses optimize existing processes. The data shows organizations how they can reduce inefficiencies and improve productivity.

    Leveraging BI can lead to significant revenue growth. For instance, one company saw a $235 million increase in earnings through the use of business intelligence.

    What is business intelligence consulting?

    Business intelligence consultants are data experts who guide organizations that want to get the most from their data assets. These experts use best practices to provide detailed insights from vast sets of data collected by the organization.

    BI consultants work with managers, analysts, and engineers to understand data structure and business goals. They also use BI solution components to streamline business processes.

    Consultants handle data modeling, manage the data warehouse, and implement business intelligence tools. Their knowledge of tech trends helps them guide clients on effective tools and strategies. They’re also responsible for making sure projects stay on time and on budget.

    Benefits of business intelligence and consulting

    Business intelligence and consulting is an efficient way to build an organizational system. A BI system lets companies collect customer feedback, marketing analytics, and sales performance. Then they can use these to track progress over time, set goals, and predict outcomes.

    Data audit

    Consultants perform data audits to help organizations understand the current state of their data and create a strategy for improvement. The first step is to work closely with the client, defining their business goals and identifying the specific data needed to address those goals. Next, consultants assess the client's existing data landscape. This includes mapping where data lives, its format, and quality. Consultants will specifically look for gaps, inconsistencies, and compliance risks. They also review data governance procedures, such as who owns the data and how it is updated.

    Based on the audit findings, consultants provide a report with specific recommendations for the client. These recommendations may include addressing data quality issues, improving how data is managed, recommending technology solutions, and implementing best practices for data security and compliance. Depending on the client's needs, some consultants may also offer further support to help implement the recommended changes.

    Looker Studio sample report (Click to expand)

    Data visualization

    Data visualization is a critical component of business intelligence. It transforms raw numbers into digestible visual representations. Charts, graphs, maps, and dashboards make complex information easier to understand, analyze, and communicate. Companies use data visualization to drive operational efficiency and gain a competitive advantage:

    Identifying trends and patterns

    Visualizations reveal trends, patterns, and outliers within complex datasets. For example, a line chart showing sales data over time might highlight a seasonal spike in demand, allowing a company to better prepare inventory and staffing levels.

    Pinpointing correlations and relationships

    Data visualization can help companies uncover relationships between different variables. A scatter plot, for instance, might reveal a correlation between customer satisfaction scores and product quality metrics, indicating an area for improvement.

    Real-time monitoring

    Interactive dashboards provide real-time or near real-time visualization of key performance indicators (KPIs), enabling companies to track metrics and make immediate adjustments. This allows businesses to stay agile and responsive to changing conditions.

    Communicating insights to stakeholders

    Visualization helps bridge the gap between data analysts and decision-makers. Charts and graphs convey complex information in a format that is understandable to non-technical audiences, facilitating collaboration and informed decision-making.

    Identifying bottlenecks and inefficiencies

    BI plays a key role in identifying hidden bottlenecks and inefficiencies within a company's operations. BI consultants can analyze production, sales figures, and customer feedback to discover issues. For example, BI could reveal that a specific step in the manufacturing process takes longer than expected. This insight then prompts further investigation and allows for targeted optimization efforts.

    Better decision making

    BI transforms decision-making by replacing guesswork with data-driven insights. Access to live performance metrics helps companies manage resource allocation. They also use them to plan staffing and adjust existing processes. As examples, the business may streamline approval processes, optimize inventory management, or improve maintenance schedules.

    Improved visibility and collaboration

    BI dashboards and reports provide a centralized view of operations. These give everyone from frontline staff to management a clear picture of key performance indicators (KPIs). Transparency helps employees understand how their contributions impact the organization's success. It also promotes better communication and collaboration across departments.

    Automation and standardization

    BI also streamlines tasks by automating repetitive aspects of data collection and analysis. This frees up valuable employee time, allowing them to focus on more strategic and creative work. BI tools can also pinpoint areas where processes can be standardized across departments. Standardization ensures consistency across the company. As a result, companies should experience fewer errors while saving time and resources.

    Predictive analytics, maintenance, and quality control

    Companies can use historical data on equipment performance to predict potential equipment failures. Improve maintenance schedules reduces downtime and disruptions to the production process. Likewise, BI can help identify quality control issues in advance using product data. This analysis helps companies adjust and improve product quality.

    Examples of BI tools (Click to expand)

    Business intelligence and consulting tools

    The BI landscape offers a wide range of powerful tools to suit various needs and budgets. Here are some popular options:

    Microsoft Power BI

    A versatile and user-friendly, BI suite integrates seamlessly with other Microsoft products. Power BI offers robust data visualization, self-service analytics, and easy dashboard creation.

    • Example: A marketing agency uses Power BI to analyze campaign performance across many channels. Then they create interactive reports for clients to find trends in customer behavior.

    Tableau

    Tableau is valued for its sophisticated visualization capabilities and intuitive interface. Tableau allows users to create dynamic charts, graphs, and maps. This makes it a great tool for exploratory analysis and storytelling.

    • Example: A healthcare provider uses Tableau to track patient outcomes, visualize geographic healthcare disparities, and track resource allocation across different facilities.

    Qlik Sense

    A powerful BI platform known for its associative analytics engine, allowing users to explore data across many dimensions. Qlik Sense is good for handling large datasets and complex analyses.

    • Example: A retail company uses Qlik Sense to analyze sales data, identify product performance trends down to the store-level, and optimize inventory management.

    Looker (formerly Google Data Studio)

    A cloud-based BI platform integrated with Google Cloud, offering advanced data modeling and collaboration features. Looker excels at building custom reports and dashboards.

    • Example: An e-commerce company uses Looker to track real-time website traffic, track conversion rates, and analyze customer journeys across the purchase funnel.

    Sisense

    A comprehensive BI platform designed for both technical and non-technical users. Sisense offers AI-powered insights, embedded analytics, and a customizable interface.

    • Example: A manufacturing company uses Sisense to track production line efficiency, predict equipment maintenance needs, and optimize resource allocation across different manufacturing plants.

    When selecting a BI tool, consider scalability, compatibility with existing systems, ease of use, and integration costs.

    Business intelligence and consulting solutions

    The Brand Auditors offers innovative business intelligence consulting services to streamline your data analysis process. Say goodbye to manual raw interpretation, constant information demands, and lost opportunities.

    We customized our services to your unique situation, no matter the industry. We’ll work with you to define objectives, gather data, analyze it, and present insights in easy-to-understand reports. Our business intelligence and consulting services help you harness that power and turn your data into a competitive advantage.

    To learn more, click on the button below to schedule a free consultation.

    Chris Fulmer, PCM®

    Chris Fulmer, PCM®

    Brand Strategist | Managing Director

    Chris has over 15 years of experience in brand development and marketing. He has designed strategies across various industries, such as technology, B2B services, and healthcare. His areas of expertise include brand positioning, competitive analysis, content marketing, and web development.

    Are you ready to find out how a brand audit can transform your business?

    Our brand audit process is a comprehensive analysis designed to help companies optimize performance.

    • Increase ROI on lead generation and sales conversions.
    • Reduce marketing expenses.
    • Strengthen brand positioning to become more competitive.

    We guarantee satisfaction or get your money back! Schedule a discovery call with a brand auditor to find out more.

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