So what should a low margin business, like a retailer, do when evaluating a BI solution?
Total cost of ownership must be king in low margin businesses when choosing a BI platform. Including the following critical capabilities:
- A Platform – A visualization tool will only get you so far. Low margin businesses need a platform that allows the business to tap into multiple data sources, and see the whole story that lives within their data, not just a single source of data.
- Quick Impactful Wins – In order to get more from less, BI rollouts must be quick and impactful. Release #1 should be less than three months, and testing a theory with your BI platform should be possible in a couple days.
- Complex Use Cases Made Simple – If a complex use case, like retail omni-channel analytics, can be accomplished in a straightforward manner without complex configurations that only a few external resources know how to address, then you are on the right track.
- FTE Count – How many Full Time Equivalent employees are required to keep a BI solution up and running? If the answer is dozens of FTE’s you already know this is not a good solution for a low margin business with fewer resources to deploy.
The good news is quite a bit of analysis has already been done within the analyst community on BI platform ownership costs. Qlik historically has scored quite well in all areas of total cost of ownership. It's one of the many reasons that Qlik is regularly adopted as the business intelligence platform of choice in low margin business like retailers, wholesalers and logistics organizations throughout the world.