Where Excel created dependencies, BI brings instant, remote access, integrity and seamless data integration.
How to Get Day-One Value from Your New Power BI Models (and challenges to overcome)
Don’t let vendors pitch new Power BI models to you without communicating a clear roadmap of the kind of data challenges you might encounter.
It’s all about ROI. It sounds almost plastic to say.
Yet, no matter how hollow it resonates, ‘It’s all about ROI’ still rings true as the golden metric you can hold up to your CEO to justify business investments.
Of course, ROI is as much a moment in time as it is a number. Which is why it’s such a murky question.
The Limited Value in Popping the ‘ROI’ Question When Implementing New Power BI Models
Next time you ask a vendor selling you a new BI platform “when can I expect to achieve ROI?”, be very suspicious if they give you a straight answer. If they do, they’re likely about salesmanship, not stewardship.
When it comes to implementing new Power BI models like FinWorx and RetailWorx, the most accurate answer in most cases to the ‘when will I get ROI?’ question is “it depends.”
Namely, on answers to questions like:
Is your initial investment in your new BI model sufficient for the BI model to deliver what it promises?
Does your data environment require any initial prep-work for your new BI models to really fly?
Will you need to invest resources in building other tools from scratch to overcome certain issues that might limit the utility and value of your new BI models?
Instead of Asking About Power BI Model ROI, Ask This Question Instead
Ultimately, you’re not going to get a notification on your phone the day you get a return on investment with your new Power BI models.
When it comes to weighing up the value of new business intelligence tools and models pitched to you by eager vendors, it’s often best to ask them:
“What will you do to ensure we’ll get value from day one?”
When you partner with EnterpriseWorx on implementing new Power BI models like FinWorx and RetailWorx (for finance, retail and manufacturing) that’s exactly the question we make sure we have a detailed answer to.
To make sure we do, we identify the threats and challenges to achieving day-one value once FinWorx or RetailWorx are implemented and firing.
What Are the Threats and Challenges to Day-One Value When Implementing FinWorx or RetailWorx?
Before we dissect threats and challenges to implementing EWX’s FinWorx and RetailWorx let’s touch on the benefits.
The common theme between them both is that they bring vast, disparate and disorganised data sources into a single view with invaluable utility.
FinWorx: Plug & play, near-real-time financial insight
FinWorx’s near real-time reporting gives automated retrieval of critical financial data with almost zero human involvement. You get to view the financial landscape of your business across all entities in one view or filtered down to groups or individuals.
Day-one value: From day one you’ll use FinWorx to quickly and easily optimise financial opportunity and mitigate financial risk continually. Giving you visibility of a range of financial metrics allows you to start the journey of drilling down into the actual details you would like to investigate.
RetailWorx: Data-to-decisions at the right organisational level
Built around specific organisational goals and departments, RetailWorx converts massive amounts of retail data into meaningful, actionable business insight.
Day-one value: From day-one, you’ll have customisable KPI tracking for each department and granular near real-time view of sales, stock and product statuses across all locations, branches and sites.
That all sounds pretty rosey, doesn’t it?
So what are the threats to achieving day-one value with FinWorx and RetailWorx?
To build your one source of near-real-time Power BI truth, we’ll first need to understand the data challenges that might ruin your day-one FinWorx or RetailWorx unboxing.
How ready is your data architecture for FinWorx or RetailWorx?
What data-management housekeeping needs doing first?
Is your data correctly synched so that FinWorx and RetailWorx actually ‘worx’?
Actually Getting Day-One Value From Your Power BI Models
Above are exactly the kinds of questions and challenges we help you solve before simply lumping you with a Power BI model that starts when you turn the key, but doesn’t actually gain traction and momentum.
How we overcome these challenges en-route to fitting you with Power BI capabilities that deliver value from day-one depends on your circumstances.
We might first deploy SQLSync, to ensure your databases are correctly synchronised.
Or we might offer EWX’s Segregation of Duties tool to first resolve potential permissions-and-access security issues, ahead of implementing RetailWorx or FinWorx.
These are just two examples.
Getting Day-One Value From Your Power BI Models Is About Understanding What Needs to Happen First to Your Data Environment
Don’t let vendors pitch new Power BI models to you without communicating a clear roadmap of the kind of data challenges you might encounter for achieving day-one value, and how they plan to overcome them.
We’ve already built an ecosystem of data-management solutions for navigating those preliminary hurdles, so you won’t have to.
Once we’ve implemented FinWorx and RetailWorx, we’ll switch to a role of data management and business intelligence stewards, to ensure your data-to-decisions capabilities and journey continue to optimise and grow.