Business Intelligence and Business Analytics: Present in organizations that use the data culture in their favor to extract clear and accurate information, helping in decision making, the terms Business Intelligence and Business Analytics tend to generate a lot of confusion.
As much as the two are linked in how to plan, extract, structure, and evaluate the strategic data of a given business, each of these concepts has a different impact when applied in the management area.
So, to improve your knowledge about BI and BA, continue reading and get your questions answered about this subject!
What Is Business Intelligence?
Business Intelligence, or BI, which can mean business intelligence or market intelligence, has the main objective of supporting organizations to create and execute strategic planning through metrics and KPIs.
A small, medium or large organization has its processes, activities, and work routine, right? Business Intelligence comes to optimize and modernize the team’s day-to-day life and bring new insights to reinvent itself internally and externally, creating a business differential and generating a competitive advantage.
In this way, it is possible to use BI to leverage operational techniques, use tools that assist in market research and target audience study, facilitate business management, and make more proactive decisions.
By using assertive intelligence to your advantage, you can get to know your business in more depth and plan data-based strategies that enable the growth and development of your company.
What Is Business Analytics?
Business Analytics, or BA, also collects information. Still, the differential of this concept is that it makes it possible to make decisions based on a Data-Driven culture, where it goes beyond just looking at the data but knowing which ones to analyze and how to interpret them correctly to create future strategies that are more aligned and focused on bringing good results.
From reports, qualitative and quantitative analyses, and other elements, it is possible to obtain a deeper exploration of different points that are important for the organization’s analysis. A very nice example that we can use to exemplify the use of BA is Netflix, which uses several algorithms to create series that are in line with what its audience wants and recommend content based on user preferences.
Did you see how each term can act differently in your business? The great point is that both are complementary and guarantee your company’s differential if applied correctly.
So, to avoid confusion with the BA and BI terms, remember that Business Intelligence uses current data to optimize internal and external processes. On the other hand, Business Analytics uses the Data that will serve as the basis for future strategies.
Does your company work with the B2B business model, that is, does it sell to other organizations? If so, know that finding companies with the ideal profile for your solutions is essential for you to be more successful. Therefore, it is necessary to create strategies to conquer new opportunities. For this, prospecting is essential!
Keep in mind that it is hard work, but it will contribute a lot to the development of your organization. Therefore, if you want to understand more about the concept and how to start prospecting, this content is for you.
What Is B2B Prospecting?
B2B prospecting is the process in which organizations develop strategies to find potential customers in the market, that is, companies that have the ideal consumer profile for the company.
Therefore, the first contact is made for the company to start working to direct this lead throughout the sales funnel after finding these new opportunities.
However, as much as the ultimate goal is to close a deal, at first, prospecting has as its main purpose the creation of a relationship. After all, before reaching the final stage, educating and nurturing the lead is necessary.
Tips On How To Prospect
Below we have selected the five steps you must follow to carry out a successful prospection and thus find several real opportunities for your business!
Define Your Persona
The first step is to understand which companies you want to reach. Therefore, start detailing the characteristics of organizations with the ideal profile for your solutions. Here, you can define by niche, number of employees, location, etc.
Keeping this information in mind is essential so you know which organizations should be on your prospecting list.
Create A Lead List
After understanding the ideal company profile, start looking for the contacts of these organizations. After all, you need to have data to take action.
To create the list, you must have, at a minimum, the organization’s name and contact (for example, email or telephone).
Search More About The Leads
Having your list in hand, start to understand more about the profile of the companies that will be part of your prospecting. Without a doubt, having details about the organization will make your contact much more assertive. After all, you will know exactly which scenario you will be dealing with.
Some interesting information for research is understanding what moment the company is going through, who the competitors are, the pains, the differentials, etc.
Knowing every detail of your lead, the time has come to get in touch. Ah, know that this step is more complex because you need to awaken your lead’s attention.
With that in mind, be creative and keep going on the first try. Because they usually tend to ignore the initial contacts because they need to learn the organization.
Qualify Your Leads
Did you make contact? So, which customers are interested in closing with your company? At this point, you will understand which contacts are ready for purchase. Therefore, the sales team will only focus on organizations with real potential.
Also Read: Business Gamification: Advantages And Cases On How To Use It