Conducting business as usual may no longer be sufficient. Properly utilizing the technology that is now available can be of great help.
It seems that most small business and home based business owners are either starving (they don’t have enough technology) or they are loaded with every piece of new technology that comes down the pike.
There is, however, some fairly new technology that every small or home business owner needs. It can answer questions like; how can small businesses identify noteworthy trends, Identify an existing hot demand and make better decisions faster? Answer: business intelligence software.
Business intelligence is the crystal ball of the 21st century. Utilizing business intelligence (BI) software is one of the most strategic investments that a business can make.
Using data mining, reporting and querying, BI helps businesses understand, monitor, manage and respond to specified situations. This software empowers decision-makers — and staff — to connect the dots around key business numbers in a way previously unimaginable.
BI helps you figure out:
· Which customers are profitable?
· Which customers appear profitable but aren’t?
· Are you close to — or far from — reaching critical milestones?
· When is the best time to launch a marketing campaign?
· What was the best performing product or service last quarter?
There are two business intelligence tools that I use frequently to identify an existing hot demand. They are Google Trends and Google Keyword research tool.
With Google Trends, you can compare the world’s interest in your favorite topics. Enter up to five topics and see how often they’ve been searched on Google over time. Google Trends also shows how frequently your topics have appeared in Google News stories, and in which geographic regions people have searched for them most.
The second free amazing tool at our disposal which instantly shows us demand is called the Google Keyword Tool.
To use this tool, simply enter a word or phrase, and click on the search button.
The Google Keyword Tool will then show you the term you entered, along with several other related terms. Google can effectively show you demand as they publish the Global Monthly searches for the respective term in the Google search engine.
Be sure to familiarize your self with these two tools and you’ll be able to quickly see what’s in demand and focus your marketing efforts effectively.
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