Tuesday, November 15, 2016

Net Element, Inc. (NETE) – Understanding the Importance of Business Intelligence

According to a report published by Econsultancy (http://dtn.fm/0S0Wa), “The vast majority (84%) of marketers agree that their understanding of the customer is increasing over time, and 64% say that they are using data-driven customer insights to adapt their marketing strategies and influence business decisions.”

As a result, companies around the world are now adopting more in-depth business intelligence techniques. There has been a steady rise in the importance of data analytics to organizations of all kinds. According to Forbes (http://dtn.fm/sABs4), the U.S. Bureau of Labor Statistics report showed that the job market for data analyst disciplines is increasing by approximately 27% every year.

Aside from the rise of data analyst jobs, companies such as Net Element, Inc. (NASDAQ: NETE) are offering business analytics in the form of software as part of their services. The global technology-driven group specializes in mobile payment solutions, but also offers reports and analytics solutions, giving clients a 360 degree view of their businesses. The aim of this service is to make monitoring a business easier with an all-in-one dashboard.

But it’s important to understand why business analytics has become so imperative. Virtually any business of any size can benefit from business intelligence software. With analytics software, businesses can pull together data and create reports, freeing up resources and allowing employees to be more productive while also working toward clearer goals.

In addition to boosting productivity and enabling team members to understand company goals in more depth, data analytics, or business intelligence, allows companies to better understand their target audiences by gaining insight into customer behavior. Through gathering and understanding this data, organizations are able to turn it into actionable information, which in turn will help increase sales and marketing intelligence.

NETE’s reports and analytics service, Unified Payments Insights, is an easy way for businesses to monitor their business metrics and undertake competitor analysis. Net Element’s all-in-one dashboard allows merchants to compare current revenue, social media activity, and online reputation (on website such as TripAdvisor, Yelp, Foursquare, and others) to their past performance.

For more information, visit www.NetElement.com

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