Role of E-Business Intelligence
Have you ever analyzed how intelligent your business is? Do you and your employees have in-depth knowledge regarding the processes to drive profits to the business? How do you acquire that knowledge and understanding, and do you exercise them for shaping the future of your business?
Above questions could be answered easily by business executives by simply monitoring the sales and revenue of their businesses. But the real question which can be asked today is how do you achieve Business Intelligence in this Internet ruled economy or simply how do you achieve E-Business Intelligence?
E-business intelligence can be described as Internet market feedback which enables an enterprise to measure and manage return on investment (ROI). Certain facts which drive E-business intelligence are: the ways to maximize traffic on website, having ample Internet affiliations, distribution of company’s products on the Internet, competitors pulling your business to drive their business etc. These facts, in future give birth to business strategies/models.
Internet has an impact over online and offline aspects of a business. These aspects can be related to legal activities, corporate reputation, infrastructure, strategies and interactive activities of the business. Since, Internet is too large to monitor the violations or immoral activities against the business; E-business intelligence is used to implement a step by step process so as to eradicate those iniquitous activities. The step by step procedure follows as:
Step 1 – Know your exposure on the Internet: The correct knowledge of your scope on Internet would assist in forming a baseline for deciding about the trends that need to be tracked over a period of time.
Step 2 – Developing official policies and procedures: Official corporate policies and procedures justify the application of different consequences and treatment for the websites that violate your business.
Step 3 –Use of practical measures: Practical or proactive measures are repeatable and sustainable. These can help in bringing out actions/behaviors that affect your bottom line business and how they can be cured.
Step 4 – Being decisive: The addition of ‘E’ to a business makes it more competitive. Whether your enterprise is big or small, the matter focuses on being attentive and decisive so as to drive more people to your site.