Today, collecting client data with consent has become the norm across every industry. But the way that organizations analyze and use the vast amount of data they have access to is varied.
Some are sitting on a goldmine of valuable data without really doing anything with it. Some are already using data intelligence software to use data to help drive revenue, grow their business, and better understand their customers. Some are even employing outside sources to tap into “big data” in order to reveal a 360-degree view of their target audiences.
With the effort and expense involved, you don’t want to get it wrong. Knowing how to choose data intelligence software is important so you can get it right the first time and being reaping all its benefits.
- What is data intelligence?
- What is data intelligence software?
- How does data intelligence software work?
- What are the benefits of data intelligence software?
- How to choose data intelligence software
What is data intelligence?
Data intelligence comprises the systems that are designed to break down and analyze all data on hand, turning it into something usable. These are analytical tools and methods that can offer businesses valuable information, in context, that drive better business decision-making.
There are five main components to data intelligence:
Through these components of data intelligence, the systems are able to analyze data in such a way that we can understand it, find alternative explanations, resolve issues and point out trends, helping to make business predictions and more informed decisions.
What is data intelligence software?
Sometimes referred to as data analytics software, data intelligence software is a solution designed to analyze data for you. Often in a dashboard format, these kinds of solutions can offer a snapshot of data in real-time, report on metrics, and use machine learning to analyze and make predictions. In a nutshell, data intelligence software does the heavy lifting for you to be able to actually use your data.
How does data intelligence software work?
Data intelligence software uses artificial intelligence (AI), machine learning and data analysis methods and systems to quickly extract knowledge from data and present it in a way that is digestible and usable.
What are the benefits of data intelligence software?
The benefits of using data intelligence software are vast. But most notably, the ability for the system to automatically analyze data and present it in a usable way unlocks capabilities for accelerated revenue growth—for any business, in any industry. After all, the more consumer information business leaders have to work with, the smarter their revenue growth strategies will be.
How to choose data intelligence software
Depending on what kind of analytics you’re looking for, there are many options when choosing data intelligence software. Most commonly organizations are looking to analyze data to understand consumer preferences. It’s often beneficial to choose platforms that offer integrations with tools you currently use that are collecting data. For those looking to grow revenue, integration with customer relationship management (CRM) is ideal. These kinds of data sets can be analyzed in order to provide actionable insights. When choosing a data intelligence software program, use the following considerations.
- Business intelligence reporting
Let’s look at each consideration a little more closely.
The data intelligence system you choose to analyze data sets needs to use automation to reveal insights quickly. Automation makes the software easy to use and requires no manual inputting on your end.
Who will be using your data intelligence software? What kind of user experience do they need in order to achieve ROI? This is super important to consider when comparing vendors. Be sure to ask for a full demo so you can see what the dashboard looks like and how easy it is to navigate.
3. Business intelligence reporting
What kind of reports are you looking to generate? Be sure that the platform you choose can analyze and report on the data in a way that is relevant to your organization and your overall business goals.
Integrations with other systems in your tech stack are a huge advantage. This means more data sources are automatically feeding information to the software. When shopping around for data intelligence software vendors be sure to ask for the full list of integrations that are available or will become available.
This is a big one. Compare several vendors to ensure you can find a data analytics system that falls within your budget. Free trials are always great!
Ensure that the solution you choose can scale with the organization. How many users are able to access the data analytics? Does it cost money to scale up? These are considerations you need to think about in advance, to avoid switching vendors down the road.
7. Customer service
Data analysis is complicated. That’s why the software exists in the first place. Confusion or learning curves are inevitable, so make sure you choose a vendor that has responsive customer service times, a great attitude, provides lots of training and is willing to take and learn from your feedback.
Sophisticated data analytics platforms can be a big investment. The proper research and considerations need to happen in order for you to partner with the right vendor. Remember to start by mapping out the data you need to be analyzed and what you’re looking to use it for. Your overall business goals will help guide your wants and needs when choosing the right data intelligence software.
Introhive’s industry-leading Customer Intelligence Platform provides data intelligence backed by a sophisticated AI that provides pristine data and all the insights you need to find opportunities, win deals, and grow your business. Talk to one of our experts or book a demo to learn more about how our data intelligence software can make your revenue dreams come true.