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.