5 Keys for Implementing a Business Intelligence Strategy

After working with various clients this past year, H4 Technology put together 5 keys to Implementing your Business Intelligence (BI) initiative.

  1. Identify Internal Champions

Identify department or executive champions who would benefit from enhanced business intelligence.  A business intelligence strategy is not an IT initiative, it needs to come from real world challenges that your company is facing today.

 

  1. Conduct Interviews

By conducting internal interviews with various people in different departments, you will find out what key metrics are currently track and most importantly what addition metrics should be tracked to improve the organization.

 

  1. Prioritize Business KPIs and start with a focus. Many organizations end up with fail experiments from simply layering a business intelligence tool on top of to a database to see what will come out of it.  Instead, start your project with a focused real-world problem that your team agrees is worth pursuing and start capturing those performance metrics.

 

  1. Define Data Standards and Business Rules

Dashboards and charts are only as good as the underlying data.  Data standards and business rules need to be defined so data is standardized for reporting and analytics.  Additionally, we have seen process changes that need to occur to capture the correct and necessary data.

 

  1. Empower Staff to Become Data Storytellers

Data is often kept in department data silos and consequently data stewards and users are confined to traditionally per user software license fees.  By Integrating the data systems to a standard platform and enable multiple users to have access to data, additional value and insight will be created for the organization.  Users can easily create data dashboards to convey important messages helping the organization make data driven decisions.

 

To find out more about how H4 Technology’s COMPASS platform provides a timely and positive ROI for your business intelligence initiative, schedule a time to talk to a consultant via our Live Demo.