A STUDY ON USING BUSINESS INTELLIGENCE FOR IMPROVING MARKETING EFFORTS

A major success criteria for the marketing department of the company is the understanding of the consumers and the success of the campaigns. Based on the outputs of certain data mining tasks, a marketer would be able to chalk out his strategy. But the major barrier against proper utilization of business intelligence is that often the marketer is unable to see the actual benefits the system can provide him in meeting his objective. Firstly this article provides a basic knowledge of the various data-mining tasks which can create value to the marketer. A major concern becomes, even if the marketer is convinced of the benefits to be obtained, he is unaware of the process involved to get it done. The data requirements are huge for a business intelligence system. This article also provides some insights on what kind of data requirements the data-mining system would require to perform such business intelligence tasks. Thirdly, this article maps how business intelligence can be collaborated with marketing strategy to create value in each stage of the product development life cycle following Kotler’s product life cycle framework. The entire paper provides these conceptualizations based on theoretical understanding of the areas under discussion.