Business Intelligence software is software that takes enormous amounts of information and predicts accurately what consumer’s desire. Social media is a game changer in the creation of modern brands.
Because of this incredible scale, business intelligence software is critical in developing modern brands. It involves high-speed calculations. It involves world class statistical analysis. Much of business and sports are analytic driven. Business intelligence software gives a company a tremendous competitive advantage. Business Intelligence Software develops world class brands.
Proctor and Gamble is an example of how this is done. This company endlessly analyzes data created from its business intelligence software. This software has the capacity to crunch up to 10,000 scenarios simultaneously. This creates the ability to predict whether premium-priced diapers will be a bust in Morocco or the impact of a toothpaste promotion could have in Brazil in comparison to this same promotion if it runs in Chile.
This software is teamed up with Facebook and other social media platforms. Social media is now a special tool that was not available in times past. Business Intelligence software has been available since the early 1990’s. The presence of social media creates huge information networks very quickly. Metcalfe’s Law says that a network of 2 quickly becomes a network of 1,092.
A product engages with a customer and the customer likes the product. This customer communicates this product with their friends. Social media is very viral. Through the “comment” box, a marketer can very quickly learns just what a customer likes about their product and what they don’t like. Business Intelligence Software and social media platforms allow the company to quickly develop highly differentiated and well-positioned products that a customer in a particular market truly wants. This creates strong, world class brands.
Branding is the ability to provide a consumer with just the thing that they want at a point of time when whey want it. If you deliver a product that is exactly what your customer wants, naturally this is going to give you and your organization an advantage that your opponent simply cannot offset.
This is critical to Proctor and Gamble. They can’t create revenue by buying other companies or brands. They must expand by creating products that people really do want.
This creates a problem for Proctor and Gamble. This problem can only be solved if highly desired products are created. Proctor and Gamble is large. To achieve just 4-6% growth, this company will have to develop a $4 billion business.
Proctor and Gamble'sdomestic markets are mature. Most of the growth won’t come from there. The company’s new revenue streams must come from emerging markets. Emerging markets have profit margins smaller than mature economies. To off-set the lower margins, the company will have to sell larger volumes. This can only be done by offering products that people in emerging markets really do want at price points that customers can afford.
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