What is the purpose of your business? The intrinsic driver of being in business?
What helps you to gauge whether you are on target with your business goals?
Your individual story will vary, but here is a generic example of what I'm after. Whatever the goal of your business is in terms of product or service offering, your business' ultimate purpose is most likely to...
- maximize revenue
- increase profit
- attract & retain customers
- minimize risk exposure
- achieve recognition (market leader, reputation/image)
Do you know what you want to get out of your Business Intelligence efforts, investments?
Would you like to...
- get a handle on how your business performs ?
- understand your customer better ?
- identify inefficiencies in your current business processes ?
- determine risk or exposure ?
- recognize growth opportunities ?
- test a new business model/process ?
Then relate your B.I. inquiries to your top level goals...
Business performance, in terms of
Understand the customer better, in terms of
Inefficiencies, in terms of
- revenue
- profit
- customer satisfaction
- risk
- conversion
- retention
- life time value
- investment return
- customer churn
- expense ratios
You see how these quick summaries of purpose could easily be used as a headline for any B.I. feature request? It's that straight-forward, once the awareness is there.
We all strive for results. But what is their ultimate purpose?
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