As you can see on our BI Strategy As you can see from this page, there are many benefits to implementing a BI system in your company. Once you’ve identified the potential of a good BI plan, it’s time to start mapping out its implementation. Because when we talk about BI, we’re not just talking about choosing the right BI tool. There are a few other decisions you need to make to ensure a successful BI initiative. In this blog post, we’ll walk you through the 10 fundamental steps of a solid BI roadmap.
1. Start with the right mindset
Implementing a BI tool isn't always that easy. That’s why it’s important to approach it with the right mindset, so you’re prepared for challenges such as complex data issues, resistance from management, declining sponsorship, reluctance from the IT department, and user acceptance issues. Be aware of all the pitfalls—it will save you a lot of time and disappointment.
2. Appoint a BI manager
Although a BI strategy involves multiple stakeholders, it is essential to designate a leader who will take the lead in the implementation. It may be tempting to appoint the Chief Information Officer (CIO) or the Chief Technical Officer (CTO), but that is usually not the best choice. A BI initiative is better supported by a manager who bears bottom-line responsibility, has a broad understanding of the organization’s strategy and objectives, and knows how to translate the company’s mission into KPIs.
3. Assess the current situation
As we mentioned earlier, an implementation rarely goes off without a hitch. One of the most important components of a business intelligence roadmap is assessing the current situation. Once you have all the stakeholders at the table, the next step is to analyze the current software stack, as well as the processes and organizational structures surrounding it (or the lack thereof). Identify what works and find a way to integrate it into the new strategy. Also, document everything that doesn’t work. For example, which processes are inefficient?
4. Determine your budget
Drawing up an accurate budget is an important step in the process of building a successful BI strategy. Budgeting allows you to allocate your resources wisely. For example, you’ll need to consider expenses such as hiring additional staff, training for your employees, and, of course, the type of software you’ll choose to invest in.
When it comes to BI tools, there are many options on the market that offer a wide range of features. That’s why it’s important to clearly identify your specific needs and your budget before you start looking for one of these solutions. This will allow you to compare vendors and choose the solution that best suits your needs.
5. Consider security, privacy, and compliance
Before you start collecting, cleaning, and analyzing data, it’s important to consider security, privacy, and, above all, compliance. Data breaches have led to the enactment of various laws, so taking steps to comply with regulations is a must when developing your BI strategy.
To ensure privacy and protection, you also need to consider security. When dealing with large datasets, choosing secure storage locations is essential. But ensuring that your data is secure does not necessarily mean that you are complying with the rules. Although privacy and security are closely linked, there are other ways in which data can be misused, and you must be sure to carefully consider these when developing your strategies.
6. Clean data
Clean data in, clean analyses out. It’s that simple. Cleaning your data may not be easy, but it will ensure the success of your BI initiative. It’s crucial to ensure good data quality, as it helps keep the data as clean as possible for better operational activities and data-driven decision-making.
7. Identify Key Performance Indicators (KPIs)
KPIs are measurable metrics that indicate how effectively a company is achieving its business objectives. They are at the heart of a good BI strategy. KPIs show where companies are on the right track and where improvement is needed. It can be tempting to create KPIs for everything, but that isn’t always the best idea. It’s better to start with the most important KPIs—after all, you can always expand them later.
8. Choose the right tool or partner for your business
So far, you still haven't chosen a BI software solution or partner, even though you're already well on your way with your business intelligence roadmap. By thoroughly preparing for steps 1 through 7, you are now able to find the right tool and successfully implement it. During this process, you’ll need to make a choice and compare cloud and on-premises options. You should also make sure to choose a solution that can easily scale as your business and needs grow. Look for flexible solutions that meet the needs of all your users. Take advantage of free trials, and don’t rush this step!
9. Think about potential problems and look for solutions
By now, you should have a clear picture of the processes and steps you need to take to successfully implement your business intelligence strategy. However, as with any other business scenario, this doesn’t always go smoothly. To avoid any surprises, it’s wise to consider potential obstacles when drawing up your BI roadmap.
By identifying these potential obstacles (for example, employee training, data storage, …) you can anticipate potential problems and address them with efficient solutions. No one has a crystal ball, so of course you can’t predict everything, but it is possible to identify potential drawbacks and mitigate risks.
10. Take a phased approach
Rome wasn’t built in a day, and neither will your BI strategy be. A successful business intelligence strategy requires an iterative approach. So take baby steps! Choose a few KPIs and build a few dashboards as examples. Gather feedback and repeat this process every few weeks with new releases. Constantly ask yourself what’s working and which stakeholders are benefiting from it.
Need help with your BI roadmap?
A good BI roadmap has no end date. Your organization needs to make a long-term investment in it. Would you like help developing a BI strategy and the corresponding BI roadmap? Be sure to check out our BI Power Plan, where we help you embed Business Intelligence into your company in a well-founded way.
Discover how we help both small and large businesses with Data & BI. What exactly do you want to do?
Need help with your BI roadmap?
A good BI roadmap has no end date. Your organization needs to make a long-term investment in it. Would you like help developing a BI strategy and the corresponding BI roadmap? Find out how we help both small and large companies with Data & BI. What exactly would you like to do?
