What is a Business Intelligence Plan?
A business intelligence (BI) plan outlines how an organization can improve its data collection and analysis, reporting, and security and compliance processes. This plan should include objectives and measurable targets (KPIs) to track the progress of projects and their associated deliverables. A business intelligence plan is essential for organizations to increase their efficiency and stay competitive in the market.
What's included in this Business Intelligence Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Business Intelligence Plan template for?
This business intelligence plan template is designed for business intelligence teams of all sizes and industries. It provides a comprehensive step-by-step guide to building strategies and projects that will help teams manage their business intelligence more effectively.
1. Define clear examples of your focus areas
Focus areas are the main areas of business intelligence that you want to prioritize. Examples of focus areas may include data collection and analysis, reporting and visualization, and security and compliance. By defining your focus areas, you can determine which objectives and projects you need to prioritize.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that you want to achieve within each focus area. Objectives should be specific, measurable, and achievable within a reasonable amount of time. Examples of objectives could be improving data accuracy, increasing data consistency, or improving security.
3. Set measurable targets (KPIs) to tackle the objective
Key performance indicators (KPIs) are measurable targets that you can use to track the progress of your objectives. Examples of KPIs could include reducing data entry errors, decreasing manual data entry, or decreasing security breaches. Setting measurable targets will help you determine whether or not you are achieving your objectives.
An example of a KPI for the focus area of Data Collection and Analysis could be: Decrease data entry errors from 3% to 1%.
4. Implement related projects (actions) to achieve the KPIs
Projects (actions) are steps that you can take to achieve your objectives and KPIs. Examples of projects could include updating data collection processes, automating data collection, or implementing safeguards. These projects should be specific, achievable, and have a clear timeline for completion.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a powerful tool for managing your business intelligence plan. Cascade offers powerful data visualization, reporting and analysis that can help you reach your objectives and KPIs faster. With Cascade, you can quickly create and track your business intelligence plan, and ensure that your organization is achieving its goals.