Useful Insights on Business Intelligence Stragtegy and Roadmap

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The idea of improving your business is going on and on in your mind, but you have trouble finding a starting point? The answer you have been seeking for so long is strategy roadmap. Improvement comes with strategy, but strategy is an abstract concept and you have to get things going in order to actually develop towards results. This is where strategy roadmap comes into the picture – it comes to turn the strategy into an execution plan.

 

To be effective, your plan should be based on long-term objectives and deadlines. These, along with the entire plan, should be shared with your team. In this way, the entire organization will be aligned to your goals and be able to bring input whenever possible. It will be like everybody is roaming the boat in the same direction.

 

Why a strategic roadmap will get you on the road to success 

The idea of resorting to a strategic roadmap comes from the need to change, bring improvement and evolve in order to get seen on the market. You can discover here some reasons why a roadmap is a definite road to success: https://iveybusinessjournal.com/publication/strategic-planning-a-roadmap-to-success/.

 

There are hundreds of motifs of going for a roadmap, but we will remember here some of the possible main objectives that could turn your idea into a flourishing business. One of the reasons you could go for is that you want to know how to allocate your resources in order to become more money-efficient.

 

You simply want to grow. And in order to grow your business, you must highlight the opportunities and risks, to accelerate the process. Or, you could want to take down your competition and become number one on the market. All this can be done with the aid of a strategic roadmap.

 

Stages of a strategic roadmap 

Vision and strategy are the pillars

As above-mentioned, everything starts with a vision and business strategy. A good strategy answers the question “why?”  Why do I want to do that or that? You must be honest with yourself and take notice that this part might take a lot of time. Don’t hurry, ask as many questions as needed to help you establish the roadmap.

 

Collecting data is the answer

This second step of data-collecting is all about research and interaction. You should start with market research, to see what problems the customers are dealing with and analyze the pain points. Your point will be to come forward with the best way of solving these problems.

 

Another good way of data-collecting is going directly to the customers. Go as close as you can and you will find your answers there. Listen carefully to what they have to say, because they are the ones who will be buying your product or service in the end, so they know better at this point. You can resort to surveys, casual conversation, free trials or interviews. All these are ways of going closer and reaching out to the client. It’s important to get your facts straight and choose the most appropriate data-collecting method in order to succeed.

 

Find those key features that make you or your product different

As a business and service/product provider, it is highly important that you find that special something and go above the competition. After all, this is the ultimate goal of your strategy – becoming better to crush your competition.

 

It’s important how and when you look at the competition. You will be inclined to say that you should evaluate it from the very beginning, before finding the solution. But this will not help. Analyzing the competition’s methods will only get you stuck in the cage of their own type of problem-solving. And what you want to do is develop your own strategy and find your own solution to the problem. If you want to find out more about means of finding the best solutions your problems, you should click here.

 

There are plenty of exercises you can do in order to achieve that and one is folding a paper 3 times, which will get 8 different parts where you are to write 8 different solutions to the problem. This idea comes from Jake Knapp’s book, called Sprint.

 

A roadmap is a complex strategy, but it can be applied in different scenarios, to help businesses find the way out of problems. Do not get intimidated by the process, if you follow every step of the way, you will inevitably get to the solution.