business-intelligence

Vocabulary Word

Definition

'Business-Intelligence' (BI) is a tech-based tool used by businesses to analyze data and provide actionable information. It helps companies improve their strategies by making data-driven decisions.

Examples in Different Contexts

In marketing, 'business intelligence' involves analyzing customer data to improve targeting and personalization. A marketing director might discuss, 'Business intelligence has transformed how we approach campaign management, allowing for highly targeted advertising strategies.'

Practice Scenarios

Marketing

Scenario:

Our online store's traffic is declining. Understanding customer behavior could lead to superior marketing strategies.

Response:

Maybe we should employ our business intelligence to understand the online shopping behaviors of our customers for better strategies.

Business

Scenario:

Market trends are shifting swiftly. Having data-backed evaluations can improve our strategic planning.

Response:

Let's use our business intelligence tools to analyze the latest market trends and inform our strategic planning.