Saturday, 22 February 2014

How to justify your business intelligence spend

In these recent times of austerity, finding funding for analytical projects is a thankless and often ignored cause. The people who control the purse-strings can suddenly get very short-sighted if you are asking for a new server, or the latest software. You can talk about impending obsolescence, increased efficiency, improved customer service and insight until you are blue in the face. You could also build a cast-iron risk assessment, highlighting the certainty of impending doom unless you upgrade. It will be ignored. Most rational arguments will not win you any backing at all. 

Here is the truth.... bottom line is.....

Your solution MUST improve sales. 

Regardless of any other consideration, if you can convince your colleagues that the new solution will improve the selling prospects of your organisation, then you are more likely to get funding for your pet project. 

So before you pitch your idea to the board, go to your sales and marketing departments first. Find out what their problems are and make sure your solution can support what they are trying to do. I guarantee that your likelihood of project approval will at least double with approval and backing by sales and marketing.

No comments:

Post a Comment