How Facebook is testing new business intelligence technology
Business intelligence is a big deal for Facebook and its competitors.
While it’s an area that can be hard to grasp from a purely technical perspective, Facebook has been using data from its business intelligence platform Business Checkbook to improve its marketing strategy.
The company says that it uses the data to improve business efficiency, create better customer experience and more accurately track trends in the marketplace.
Business Checkbooks uses information such as Facebook users, products sold, average purchase prices, average search volume, average monthly active users and other information to create predictive data for users and advertisers.
Facebook uses that predictive data to suggest which ads will appeal to the users’ interests and to suggest new ads that are likely to be more relevant.
The social network is also using this data to help advertisers better target their ads.
Business checkbook is now available on iOS, Android and Windows Phone, with more platforms to follow.
It has already been used to create the following ad campaigns: Business Intelligence for Apple, Business Checkbook for Android, Social Media Analysis for Windows Phone.
Facebook is also planning to roll out a new Business Intelligence platform to all of its platforms by the end of the year.
Facebook has already seen strong growth in its business with advertisers, with revenue increasing by 17% in the second quarter of this year alone.
The company recently announced that it will be increasing the size of its marketing team to help it compete more effectively with its competitors, such as Google and Amazon.