As business intelligence consultants, we know well the many potential pitfalls of trying to establish an enterprise business intelligence strategy. Organizations — both large and small — are made up of distinct operating units that often compete for scarce resources. This is never more true than now, with a slow economy and dwindling IT budgets. Many projects get started in specific departments and end up being siloed — precisely where you don’t want them to be if you are looking to use technology to gain a “single version of the truth” about your company’s performance.

The most successful BI strategies incorporate a holistic approach that looks at your company as a series of interdependent parts. Information that remains siloed is of little value to decision-makers, who need a broad view of the business to understand how decisions will affect performance.

A great article in CIO magazine that came out way back in 2007 dealt with many of these issues and I’ve linked to it here: 10 Keys to a Successful BI Strategy.

The ten keys will seem straightforward, but are much easier said than done. They range from choosing a C-level sponsor (but NOT the CIO), having a common understanding of business terminology, understanding the needs of the business, start with “low-hanging fruit” that will lead to a quick win, and picking the right consulting partner who can assist you in avoiding the common pitfalls inherent to the DYI approach.

For more information on how PerformanceG2 can assist you in your BI strategy, click here.