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Popular Business Intelligence Trends to Watch out for in 2022
Fremont, CA: Business intelligence possesses all of the characteristics that make it an essential software solution for businesses of all sizes and types. BI, on the other hand, has not always been a company's domain. Without a doubt, business intelligence (BI) has evolved into a valuable tool for both large and small businesses. Even with the difficult economic climate brought on by the COVID-19 pandemic, the BI industry is poised for a dramatic makeover, with so many business intelligence trends transforming the ground.
Business Intelligence for Sales and Marketing
Another popular trend in multiple companies is the use of business information by sales and marketing teams. Sales and marketing personnel can access the most recent sales and purchase patterns among their customers without relying on a technical IT specialist or a business analyst thanks to the use of BI dashboards. BI tools can help with any sales or marketing activity. It improves the accuracy of sales objectives and projections, evaluates the market impact of the latest marketing campaign or promotion, and creates client acquisition and retention strategies. Companies that implement the appropriate business intelligence tools for sales and marketing can benefit from increased revenues (due to product cross-selling and up-selling) and improved customer satisfaction.
Data Quality Management (DQM)
Data quality remains one of the most difficult issues for data analysts worldwide. Good data quality is critical for gaining the right insights from available data and making the right decisions. Some of the characteristics that can be utilized to assess data quality are completeness, uniqueness, validity, consistency, timeliness, and accuracy. Data quality management (or DQM) is one of the most promising BI developments, and it is critical for avoiding the risks of poor data quality while also maximizing any company's BI expenditures. DQM-related processes ensure that the company complies with global data quality standards and laws.