You have to spend money to make money, as the adage goes. But are you sure that you’re spending money on the right things? Or in the right places? Most of the time, marketing and sales professionals make decisions like this based on instinct and experience which, while valuable, can lead to human error. And even with all the data available with marketing tools, from click and bounce rates to page view statistics and trial campaigns, using this information to determine which channels are bringing in money, which aren’t, and in what ways is complex at best and impossible to tell at worst.
It doesn’t have to be, though. Not with business intelligence software’s reporting and machine learning capabilities. A subset of artificial intelligence, machine learning is a type of data analysis that automatically builds models using information collected over time, creating visual representations that add an extra layer of surety to your decision making. And while machine learning has been around since the 1950s, advancements made in the last few years have made this technology easier for everyday business use, as well as more cost-efficient to invest in.
Our business intelligence, Dyntell Bi, uses cutting-edge machine learning techniques alongside data aggregation and visualization tools to empower professionals from across industries and departments. For instance, one of our customers wanted to become more effective when it came to marketing expenditures, so they used Dyntell Bi to develop a data set that displays the correlation between expenditure, frequency, and revenue for a given product. This data can be pulled from multiple sources and displayed in a variety of ways. So, if a bar graph is easier than a line graph to show these relationships, the software dashboard can do that easily. And, if after trying to make sense of the information in this way for a few months, the team decides to try something new, that is as easy as clicking a few buttons to alter the displays. Further, the information shown can be moderated based on who is viewing what, and who among the employees and managers has permission to change or update the data.
Using the business intelligence software’s capability to crunch large amounts of data from multiple sources, this company took it one step further and connected their sales figures into the marketing databases, enabling them to see daily conversion rates and lead generation data, as well as to keep track of larger ROI.
And with machine learning, you don’t have to stop with tracking data. After creating the visualizations of their existing data, the company used artificial intelligence-based machine learning program within Dyntell Bi to run sample campaigns that reflected existing behaviors. The more you use Dyntell Bi to create reports, and the more information you give the software, the more it learns, enabling it to uncover where you’re finding the most success, where you should cut back on spending to increase ROI, and areas where you could find new opportunities.
With Dyntell Bi our customers are able to create a sophisticated campaign management systems that create plans and visualize data that managers use to discover solutions every day, and you could be one of them. Machines can learn, and so can you — sign up for a demo of our business intelligence solution today.