By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
You can download my ROI spreadsheet here. Hopefully it's self-explanatory.
The hard part is framing from where the returns will come and getting agreement to the measurement process. This must be done by establishing a firm linkage between the BI program and business returns. It's not easy, but doing this will help focus the program where it needs to be. This is not just a financial exercise. It really needs to be surrounded by business buy-in from multiple levels.
I have an article on the subject that you might find useful. Keep in mind most of what you need may come from business/ROI resources rather than BI-specific resources so be open to those as well. This is especially true early on when you're learning the lingo and structure of ROI. Your company may have a format you need to use as well.
The places where returns can be found with BI are many. They are very industry- and company-specific. Common returns come from an increase in sales (via cross-sell, up-sell, new product introductions, and timely promotions) and more efficient use of marketing or supply chain funds.
You can also take my BI ROI class in San Diego. Get more information here.
Keep it as simple as possible. It need not be lavish to be done well. All the best.
Dig Deeper on Business intelligence best practices
Related Q&A from William McKnight
Are business intelligence certifications worth it? Get certification advice from our business intelligence expert, William McKnight.continue reading
There are loads of business intelligence tools out there on the market today. Our business intelligence expert provides some valuable resources for ...continue reading
Get examples of how data mining is used in vertical industries, such as retail, manufacturing, healthcare, financial and telecommunications.continue reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.