Why customer analytics matter

Companies utilising Business Intelligence in this way derive maximum knowledge from large quantities of business data. This can include customer-centric information taken from varied data sources like CRM, social media platforms, online customer interactions, and email marketing.

You must determine three things: How will you manage the data for analysis? How will you design and deploy the platform? How will you enable your people to make informed insight-driven decisions?

A Business Intelligence strategy will allow you to address all your data problems and needs, develop a cohesive system, and keep it maintained. If you begin to implement Business Intelligence without a strategy, you inevitably focus too much on dashboard reporting and not enough on what measures are important to your business, what data assets are critical to manage effectively, and how your users will access the insights necessary to make decisions.

Who could impact or be impacted by a decision, activity, or outcome of a Business Intelligence project to ensure its success?

In the disciplines of project and change management it is well known that there is a direct coloration between effective stakeholder management and project success. This is especially true in complex change, of which Business Intelligence would certainly be an example.”

Choose the right partner to work with you to develop your Business Intelligence Strategy, identify cross-functional stakeholders, and deliver the benefits of your programme.

The project team will be composed of the key stakeholders and subject matter experts (SME’s). It’s important that the individuals on the team not only bring their knowledge and experience to the project, but also have the authority to make decisions on behalf of the users in the areas that they represent

Build a Minimum Viable Product to launch quickly and achieve ROI as fast as possible. Continuously review, adapt and evolve to meet your needs.

Developing a Minimum Viable Product (MVP) is an effective method for gaining buy-in as it allows stakeholders to understand if their ideas, concepts and assumptions are valid, allows for an accurate assessment of further investment requirements, and is a functioning Business Intelligence solution that can bring immediate benefit.

A traditional Business Intelligence approach has a high failure rate. An iterative approach, building from an MVP, allows for more collaboration across stakeholders and more adaption to truly meet business needs.

Avoid data leaks and reputation risks by ensuring a best-in-class security approach.

Resilient cyber security is not a technology-only consideration. Any solution implemented must align to your policies and standards, and the controls established to protect your data assets must cover people, process and technology. A best-practice approach, adapted to meet the specific needs of your organisation through effective risk assessment, is recommended.