Public sector organizations may experience great benefit from business intelligence (BI) solutions, but not without diligence in the planning process to understand why they need it and which business challenges are to be solved.
This was one of several themes discussed during Public Spend Forum’s webinar on How to Buy Business Intelligence. Joined by panelists from Censeo Consulting Group, the webinar presented findings from a recent report on the marketplace for public sector BI technologies focused on four key questions:
- What is BI and why does it matter to how we manage our organization?
- What types of BI exist and how can they help address the issues facing my organization?
- What is the supplier landscape?
- Which business intelligence suppliers are likely to meet my needs?
While BI can help leaders turn a corner in their organization from passive and reactive to proactive and predicting, getting the most value from these technologies requires an ability to match the business objectives to the capabilities of a diverse supplier marketplace. One way to begin this process is to consider your objectives against three areas where business intelligence may generate the best possible return on investment. Consider the graphic below:
These impact areas represent the “sweet spot” where BI solutions will yield the most benefit, and buyers and program officials alike should take time during the planning process to assess their organization against each area. We’ve created a checklist that you can use to facilitate this discussion, and it will pay dividends when the time comes to formulate your requirement and begin to research the market.
Download Public Spend Forum’s BI Impact Area Worksheet
Once you understand how BI in general will support your needs, you can intelligently research the market and have meaningful conversations with suppliers best positioned to meet your needs. Watch our webinar for more details on how to get started on the procurement journey to BI, and download our report for case studies and deeper analysis on the five segments that comprise this exciting market.
Are you interested in learning more about BI and how it can benefit your organization? Register for our March 8, 2018 webinar, Best Practices in Public Sector Spend and Procurement Analytics with Professor Robert Handfield and stay tuned for future webinars in our How to Buy BI series.