8 Steps for a Better Business Intelligence Strategy

Several clientes have contacted us to help them develop and implement a Business Intelligence & Analytics strategy in their companies and we have noticed that most of these organizations make several mistakes when coming up with their strategy. That’s why we have decided to write this post, to give them (you) a place to start.

  1. Describe your current scenario. I know. I might seem crazy. Of course we all know what our current scenario is but, still, a lot of things are missing. Take a pen, paper or your laptop if you like. Pick a process that you want to improve with BI & Analytics (for example, weekly reports creation for the Accounting area) and describe step by step how it works.
  2. Describe your ideal scenario. Here is where your imagination is free. Don’t let anything out. The more details you include, the better.
  3. Find the GAP. I’m not talking about the clothes brand. Of course not. I’m talking about you looking for those steps in your ideal process that are missing from your current scenario. Mark, underline, point, highlight.
  4. Pick a BI system. This can take a while. There are several systems you need to pay attention to; some better than others, clearly. You might be looking for something Open Source, Freemium (free until certain point) o Licensed (paid).
  5. Data Storage and your Organization’s Policy. Related to bullet #1, but it’s better to keep this separate. Some organiations have security policies that don’t allow their data to be stored in the cloud unless those companies certify specific security norms, for example. Taking this into consideration, you should define how you can and/or want to store your data.
  6. Implementation. BI implementations require someone experienced (by the way, we can help). This process must involve people frmo different areas and roles, such as End Users, Analysts and Developers.
  7. Choose where to start. Create your MVP (Minimum Viable Product). This is the minimum you can build that still adds value to your organization. From here, the sky is yours.
  8. Take baby steps: Plan what the next develirables will be (modules, reports, dashboards, etc.) and move slow but steady. You know: “dress me slowly because I’m in a hurry”.

And… ¡voilá! Of course, don’t hesitate taking this guide and modifying it according to your oganization’s needs. It could be more or less steps but ideally following a plan and structure that allows you constantly do work.

If you have any questions or concerns, don’t hesitate on utilizing the comments section below or contacting us directly.

Thanks!

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