At 5000fish, we want to ensure you are fully educated when you decide to purchase a BI solution. We believe that BI is an incredibly valuable tool for businesses when they purchase the right solution to meet the business’ needs. Though we hate to say it, many companies that purchase business intelligence (BI) software go about it in the wrong way. This has led to poor adoption rates for BI and tons of wasted dollars.
A Right Vs. Wrong BI Buying Process
Before we developed Yurbi, we were BI buyers. Through both of our experiences, as BI vendors and customers, we’ve discovered that there is a “right” and “wrong” buying process for BI.
A “wrong” buying process most often follows the path of sending out an RFP or creating an internal checklist that includes “Yes/No” software feature checkboxes. It also involves allowing the market to determine your budget, and failing to identify your BI use cases. This type of buying process doesn’t allow a company to understand the problems it is trying to solve with BI, nor the monetary worth of solving those problems.
Contrarily, the “right” buying process focuses on the audiences and use cases for the BI solution, instead of features. This type of process requires additional work for both the business customer and the BI vendor, but it’s worth it. The “right” buying process also involves setting a budget for your BI solution that assigns a dollar value to the problems you are trying to solve with BI. At the end of this buying process, BI buyers will know whether a BI vendor’s solution is able to meet their business’ needs.
If you’re in the market for a BI solution, make sure to determine your use cases and budget before searching for a product. Need some extra guidance? Check out our newest eBook, Business Intelligence Buyer’s Guide, which provides detailed instructions about how to determine your use cases and budget before purchasing a BI solution.