If you’re planning to buy a business intelligence solution, how will you make sure your project isn’t one out of every two that will fail? There are common reasons for this high failure rate, and some relatively easy steps that you as a buyer can take to avoid this outcome for you or your customer.
For instance, we know that poor design, insufficient governance, and improper integration within the organization’s broader landscape are reasons for failure. What do they all have in common? Each can and should be addressed early in the procurement process so it doesn’t manifest after the award is made, and when it is much more difficult to resolve. Beyond these issues, buyers also have to contend with a crowded marketplace with hundreds of solutions, each of them promising a unique capability to solve your business need which, come to think of it, have you even really defined?
The takeaway here is that acquiring the “best” business intelligence solution starts long before you receive your first proposal, and even before you work with your customer to define the requirement. It starts with the process of understanding what you are buying and why you are buying it in the first place.
Fail to answer those two questions and that 50% failure rate will creep a lot closer to 100. Fortunately, Public Spend Forum has you covered with another in our series of Learn the Market webinars.
In How to Buy Business Intelligence – Getting Started, we will set you up with a fundamental understanding of this complex market, which is dominated by 5 primary segments. As a buyer, your role is to understand how each of these segments corresponds to the business problem you are trying to solve. Once you’ve identified the target segment, you can spend more time researching the suppliers whose solutions best fit your needs.
Join Public Spend Forum and expert guests for a procurement-focused overview of the BI marketplace and best practices for getting your procurement journey started on the right foot. What are you waiting for? Register for this free webinar today!