Leverage Business Intelligence to Create a Strategic Roadmap
Business Intelligence is like a GPS, allowing organizations to track their progress and plan their route for success.
The objective of all business intelligence projects is to give the organisation the necessary information to make the most appropriate strategic and operational decisions.
The key outcome of any business intelligence project is that any person with responsibility or decision-making capacity in an organisation has all the appropriate, precise, relevant information for making critical decisions for the organisation.
Analytics is one of the critical points of any business intelligence project. Understanding the market and the behaviour of its customers, being able to anticipate the evolution of the market, it's possible shifts – are all aspects of data analysis that will allow an organisation to change its behaviour and adapt to the requirements and needs of the market, thereby gaining a competitive advantage in the market.
To achieve the business intelligence project objectives and outcomes, it is necessary to follow a series of well-defined stages, each one with its specific objectives and procedure.
First of all, the project's strategic objective must be identified from the outset. The most relevant information for the decision-making process within the management team must be obtained. The specific analysis must be completed, and the scope approved.
The business intelligence project must be understood and agreed to by the company's executive management, including the company's top-level decision-makers. Plus, the most critical business questions and problems to be solved.
These projects also require cooperation between various organisation processes, technologies, objectives, and data while contributing to set business goals defined in a detailed business intelligence strategy.
Our Business Intelligence Approach
The best approach for a business intelligence project is to structure it into several well-defined stages, each of them with its specific objectives and procedure.
Our business intelligence projects are structured into phases. This approach makes it is easier to develop and control the project and successfully deliver the project.
Here are the five stages for successful Business Intelligence Projects.
Stage 1. Definition of objectives and requirements
The analysis of the current and future requirements is the initial stage. There is an analysis of the organisation's present and future requirements.
We need to determine what concrete decisions they want to take and what information is required for the analysis.
We define the project requirements and scope.
Stage 2. The Methodology
It is important to keep in mind the objectives and requirements, the specific methodology, and the and the business intelligence tools to maximise the return on investment.
Business processes may need to be re-engineered as a result of findings during the discovery or prototyping activities.
Stage 3. Establishment of a work program
The necessary infrastructure and resources to cover the chosen methodology for data analysis, together with the deadlines, should be defined in a detailed and straightforward manner.
Stage 4. Presentation actions
The next stage consists of creating and presenting the suite of reports, dashboard flowcharts, and infographics in a highly visual, clear, and schematic format.
Poor presentation is one of the reasons that very well-executed BI programs can lose creditability.
Business users should be able to access the right information at the right time based on their role in the organisation. The execution of a BI process is essential to deliver business outcomes.
Stage 5. Training, system and support program implementation.
The senior leadership team can only take full advantage of this information if the people managing the process received adequate training and technical support.
Our Business Intelligence Expertise
Chase helps organisations improve the nature and detail of executive and board reporting by linking the three elements of business model, strategic direction and performance.
We have practical experience in enhancing the suite of reports that meets the specific requirements of organisations diverse stakeholder groups and creating a corporate standard for reporting, scorecards and metrics based on good reporting practices.
Many firms struggle with a critical element of performance improvement; key performance indicators aligned to the business strategy and true value drivers; this is key for achieving the organisation's strategic objectives.
Chase helps organisations identify the correct KPIs, establishing the most effective performance management reporting processes. This approach allows all staff to focus on the right business performance elements, basing their key decision making on the right information and not on poor information and guesswork.
We provide clarity around what to report, when to report and in what format, to whom (Board, Board Committee or Executive), how will it be presented to the Board, Board Committee or Executive, and what tool or system to use to prepare reports.
Our business intelligence consulting expertise includes:
Designing, delivering and managing innovative data analytics solutions to enable our clients make data driven and evidence-based decisions.
Linking reporting and metrics to strategy and the annual budget.
Developing linkages between operations, the budget and the real drivers of cost and value.
Determining the cost and margin impact of significant changes to customer demand.
Enabling active management of the cost drivers across all areas.
Providing a long-term focus on cost-effective operations without masking performance by fluctuating prices/costs.
Optimising business operations.
Our experience and expertise enable us to deliver successful business intelligence projects that provides actionable insights, accelerates decision-making and improves business performance.
Our Work and Insights on Delivering Successful Client Projects