The Role of Business Intelligence in Social Media Marketing and Its Impact on Firm Performance

Abstract

Social media business intelligence assists business owners achieve more accurate data and assessments of existing and potential customers. Today, the COVID-19 pandemic has disrupted business operations globally, and various governments have implemented policies and grants to facilitate business recovery; however, the initiatives have brought limited success. Therefore, it is essential to adopt social media business intelligence tools that help predict potential sales and analyze key performance indicators through effective virtual data collection. By generating such data, a business will be better equipped to plan on past, present, and future marketing and consumer trends. In addition, business owners can design a personalized dashboard that integrates consumer data from diverse sources to counter competition and understand overall performance. Subsequently, business intelligence tools can facilitate organizing the data into clear visualizations that are easy to understand and interpret. Therefore, a business can respond swiftly to changes, understand the cause of the changes, and mitigate adverse impacts in time.

Assessing the Moderating Role of Customer Orientation on the Impact of Business Intelligence Tools on Digital Marketing Strategy Optimization

“…This is ascertained by the BI tools recording a path coefficient of 0.258, with a high t-statistic of 3.60 registering a P = 0.001, BI tools become indispensable assets to help firms fine-tune digital marketing efforts. This supports the scholarly findings by Kurdi et al (2022) and Kurolov (2023), who opine in their works that BI can be transformative in shaping and assisting social media marketing strategies, and alike digital healthcare marketing strategies.…”

“…These tools are supportive of data-centric decisionmaking, more effective marketing performance, while, in return, enhancing operational efficiencies (Romero et al, 2021;Ilmudeen, 2021). The use of BI tools helps a business look deeply towards the market trends that are effective to ensure competitiveness, more especially in responding to consumer and market dynamics right-timely (Kurdi et al, 2022). Integrating BI tools with digital marketing practice therefore has a positive impact both at the economic and business end, therefore promoting an informed decision cycle process (Romero et al, 2021).…”

“…The BI tools will support the production of consumeroriented advertisements, the identification of the market trend, and forecasting customer behavior (Priyadarshini and Veeramanju, 2022). This rationalizes the proactive business way of predetermining customer behavior on online platforms by analyzing sentiments towards the betterment of the local tourism business sectors (Pillarisetty and Mishra, 2022;Yu et al, 2021;Kurdi et al, 2022). Further, BI tools enhance better forecasting of the market, upgrading of the processes of management in the quest to attain elevated consumer satisfaction, and enhance the process of the decision-making itself (Shuleski et al, 2019;Rayed, 2019;Yusof et al, 2019).…”

Business intelligence tools in finance: A review of trends in the USA and Africa

“…In the context of the USA, competitive intelligence and business intelligence are essentially the same, with competitive intelligence being used for a long time in the USA, while in Europe, it is referred to more often as business intelligence (Gaidelys & Dailydka, 2016). BI tools effectively analyze market trends to keep up with competition and demand (Kurdi et al, 2022). Moreover, BI has become mainstream in recent scientific research trends (Vanani & Jalali, 2017).…”

“…The utilization of intelligent finance and BI tools has the potential to optimize processes, improve decision-making, and drive innovation in financial services (Xu, 2022). Furthermore, understanding the impact of BI tools on financial performance and market competitiveness is crucial for staying abreast of industry advancements and leveraging technological innovations effectively (Kurdi et al, 2022).…”