Transform your business with perfect Business Intelligence strategy

Pick a sponsor.

An executive-level leader should be your first pick for sponsoring the initiative and gaining buy-in from other senior personnel. Before you start, make sure that everyone in the firm is on board with the BI vision. Organizations that place high importance on data across all departments employ a Chief Data Officer to spearhead the BI strategy. The CDO or another senior sponsor should think about the support and training that will be needed throughout the deployment, as well as how to scale this platform across the entire organization. Keep your sponsor informed of your progress. Develop some significant, visible reports to offer to your sponsor once your BI platform has been released and is working as expected. Show your sponsor, and hence the organization, that your approach is working.

Establish implementation objectives.

It’s critical to know exactly what you want from your BI software from the start. To narrow down your requirements, you will need to ask a series of questions. What kind of information will you be gathering? Where is the data kept? What conclusions do you want to derive from this data? Is your data required to be collected in real-time, or may it be aggregated over time? Which KPIs do you need to monitor? Who will make use of the software? Do I need to invest in BI Dashboard Development, Microsoft Power BI Tool?

These questions will assist you in determining what software you require, how extensive the scope will be, and what your final goals are.

Create a budget.

Creating an accurate budget is critical to a successful BI installation. The only way to receive an accurate estimate is to get a quote from the providers you’ve narrowed down your options.

Don’t get the most expensive edition of a software solution with flashy features you’re unlikely to use. Similarly, underbuying can result in an immature system that does not meet your needs. When creating a budget, remember to be practical and moderate. Cloud Business Intelligence is also very handy to curb expenses.

Vendor evaluation

Defining your needs aids in the elimination of vendors who do not provide a feature you desire or who fail to consistently deliver true value and functionality. Different business intelligence providers can be compared depending on how they are ranked for certain characteristics. Combining this comparison report with reviews and, eventually, demos will assist you in selecting the best solution for your company.

Submit a request for proposal

You are now ready to submit the RFP to your chosen vendors after gathering your requirements and narrowing down your vendors. You secure correct pricing for your particular business needs by seeking bids. It is critical at this stage to be extremely explicit about your requirements and to obtain clarity from vendors about the features and capabilities of individual platforms.

Demos should be requested.

You can request demos from the providers you’ve narrowed down your choices. The only foolproof way to determine the proper system for your organization is to take the software through its paces and see if it can execute the necessary functions in a user-friendly manner. It also assists you in determining whether the platform will be able to provide the functionality you require.

Prepare for user training and workshops.

To get you set up and comfortable with the software, providers typically include a combination of free knowledgebase, help papers, video training, FAQs, forums, live classes, and in-person seminars.

These offerings change from vendor to vendor and are frequently priced differently depending on the platform, although they are very standard.

Determine the type of training you require in order to receive an accurate price quote. Another excellent approach to obtain this knowledge is to read reviews. In this manner, you’ll be ready for what to expect and what you’ll require from the vendor during implementation.