10 keys to a successful business intelligence strategy pdf

They each require different types of information to enhance their work and improve the business. They know the information that would help them, and they need to be able to access the information when they need it.Д«e sure to include strategic, operational and tactical areas of the business. Each area of the business must own the program. While the IT department will be a vital part of the team, they should not be the entire team. ItвЂ™s essential that each area of the organization dedicate human and financial resources to the BI strategy.

They will have to share the information once itвЂ™s available and help each area to implement any changes or enhancements that are derived from the data. They must understand the BI needs of their area, and be able to communicate the benefits of the project to each area. Members of this team will be the champions for your project within each area of the business, so make sure you look for some impressive resumes when hiring for this role. You need to champion team collaboration, with the right collaboration software. You will need a cross-functional team to bring together all the components of the business. DonвЂ™t assume that the entire organization will support the initiative. Next, you need to build a team around the Executive champion. The Financial Officer could be a good choice, but the best option is the member who understands the business strategy and will champion BI. After all, BI is not a technology initiative. When considering the best position to be the BI leader, it doesnвЂ™t have to be the person in charge of IT. Finally, the Executive sponsor can remove any roadblocks. The Executive sponsor is the liaison with the leadership team to ensure communication lines remain open and that every area is supporting the initiative. Secondly, the Executive champion can ensure resources are in place, both human and financial, from across the organization. Having a leader from the Executive team who will champion the BI efforts is vital, for several reasons.ДЇor one, it demonstrates to the entire business that the BI strategy is a priority. Whatever the size of your organization, the first step in your BI journey is to get buy-in, starting with an Executive champion. LetвЂ™s look at вЂњhow,вЂќ with 11 steps to implement a successful business intelligence strategy. You wouldnвЂ™t set out without the tools to help you get there successfully.

Think of it like embarking on a trip without a destination in mind, a map or a GPS to find your way. This information helps to identify business opportunities and enhancements, providing business with a competitive market advantage.Д«I is also most effective when it combines internal data, like financial information, and external data, like market information.Д«y combining different data and sources of information, businesses can get insight into possible new products, new markets, and analyze marketing efforts, to name a few uses. Now, BI is a system of strategies and technologies that gather and analyze data to provide historical, current and predictive views of business and its operation.Д«I can comprise a wide range of data gathering and analysis, including the analysis of structured and unstructured data. It described banker Sir Henry Furnese, who gathered information and acted upon that information to increase his profits. What could be considered the first use of the term вЂњbusiness intelligenceвЂќ was used in a document in the 1800s.

9 вЂ“ Communicate, Communicate, Communicate.

6 вЂ“ Establish and Document a Common Language.

5 вЂ“ Define Key Performance Indicators (KPIs).

10 keys to a successful business intelligence strategy pdf