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With the fastly increasing use of mobile technology, leveraging mobile business intelligence (MBI) grows in importance to reach and benefit consumers while providing business growth. As an integral part of their lifestyle, there is a great deal of useful information which can be gathered from MBI. Here are some companies that have integrated MBI successfully into their business models, what we can learn from them, and how other businesses can leverage this powerful marketing tool to provide value to existing and potential target markets.
What is Mobile Business Intelligence
Business Intelligence defines mobile business intelligence as a term that refers to applications that make business intelligence available on mobile devices, giving users access to key business information whenever and wherever they need it.
Simply put, it is the intelligent information that can be gathered from applications installed on mobile devices and leveraged for key business takeaways.
In an era where cell phones hardly leave their owner’s side, it’s easy to see how this information can provide extremely valuable insights into target market demographics, behaviors, lifestyle and more.
Examples of Companies Successfully Using MBI
To get a better idea of what kind of information can be gathered from MBI, here are some innovative companies maxing out on mobile information and how they wield it to achieve success.
Perhaps the leader in leveraging mobile information technology, Uber has built their entire business premise on full integration of MBI into their consumer-centric technology. Bringing in a new era of mobility, cabs suddenly seem dated with this application that allows users to request for car service, track driver location and make payment all directly through the Uber mobile app. How is this possible? Uber gathers location tracking MBI through their app for both the individual seeking a ride, and for the driver that will pick them up. Based on an algorithm of distance and available drivers, a driver may choose to accept the rider, meet them at the location they’re in (with mobile location tracking) and take them to their desired location using the integrated GPS function.
Their payment system is also easy and allowing users to save card information within the app, and drawing payment automatically once the trip has been completed. No cash, no physical transaction at the moment the service is provided – just a one-time convenient feature creating an elevated user experience for drivers and riders alike.
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Another great example of MBI being used in business is GrubHub. GrubHub is a food service that (much like Uber) provides consumers with extreme convenience through the use of mobile intelligence. People looking for local delivery can use the app location services to determine restaurants in the area with delivery options, browse menus and place orders directly in the app.
A more advanced use of mobile business intelligence can be seen with fitness trackers such as the Fitbit, which gathers even more complex information from their mobile app including location, activity level, heart rate and more. This smart technology has revolutionized fitness awareness by being able to provide users with smart information about themselves.
How your Business can Leverage MBI
So how can you leverage this technology? Where are your customers now? What are they doing? This kind of information can be easily gathered with MBI, and understanding this knowledge will help you know exactly what can your business can provide to help or benefit your target market. Here are some specific categories of information which can be gleaned from mobile app technology that can be leveraged as a powerful set of tools added to your professional arsenal.
Think outside the box on how your business can incorporate MBI on location services. Not only can you use it to provide on-location products and services to your consumer, you can also learn the geographical demographics of your target audience, stores and businesses they frequent and other location habits – helping you to hone in on the “where” of your client base or provide your “where” to your client base.
Streamline Sales Process
Traditional check-out processes are almost a think of the past. With technologies like Apple Pay or other in-app purchasing options, consumers have learned to prefer the convenience of this streamlined sales process. Through this service, you can also request for email, phone or other information from your client base in order to complete the purchase.
Provide On-Demand Services
One of the most used purposes of MBI being leveraged by companies today is to provide on-demand products or services to consumers. Innovation is often derived from a need of increased convenience. This is the ultimate form you can provide your customers by going to them – rather than asking them to come to you.
Track User Information
The sky is the limit as far as the elements MBI can be programmed to track for application users. It’s not just navigation, location or other more obvious benefits one can receive from mobile information. A smart company can tailor an algorithm to gather it’s own set of intelligence from a mobile app development. Be encouraged to think outside of the box.
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"Mobile analytics has grown up and moved out. It's no longer just an interface to legacy BI products. In 2015, products with a fluid, mobile-first experience began to emerge. Working with data out in the world is going from being a chore to becoming a dynamic part of the analytics process." – From Tableau's Top 10 Business Intelligence Trends for 2016
Get creative, and start incorporating these proven industry techniques of leveraging mobile business intelligence to connect with your target audience in a powerful way like never before. Information is a powerful thing, and the resources at your fingertips with MBI is an open door.