Before embarking on a BI strategy, several steps are required.
Today, everything is data: a website visit; geolocation data; a receipt; an invoice; demographic data; socio-professional data; a qualification level; etc. In the context of BI, collecting data is a crucial step. Of course, it is not a matter of collecting each and every available item of data. It is about focusing on the data which are relevant. This then raises the issue of where these data should be stored. For customer/prospect data, a CRM solution is the ideal place.
Streamline and analyse your data
Raw data is as useless as no data at all. If we were to take, for example, the plethora of different job titles people can hold, you will quickly understand why it is more relevant when segmenting the database to have a single-valued field with a reference list rather than a free field with the exact denomination of a person’s position.
Render the data, tell a story
For rendering and analysing data, you can, of course, rely on dashboards and KPIs, the lifeblood of Business Intelligence. It is important to be able to visualise the data. However, this is not an end in itself.
The final step is to make the right decision. This requires ensuring that the decision-making process is as objective and informed as possible. This is precisely the raison d’être of Business Intelligence: to help decision makers.