Business intelligence helps organizations make the best of their data and use visualization reports for effective decision-making. Hiring the right consulting company can boost your business in several ways. Here, we’ll discuss how to hire BI consultants in Australia.
Business intelligence is a suite of applications, processes, and technologies to collect, store, and analyze data to derive actionable insights for decision-making. BI helps organizations use historical and real-time data to make effective decisions quickly and gain a competitive edge in the market. Statistics show that the global BI market will touch $33.3 billion by 2025.
Enterprises around the world are adopting business intelligence tools to make fact-based decisions. In fact, according to a report, 70% of organizations think that data discovery and data visualizations are crucial to detecting trends and patterns when making important business decisions. Establishments from the government, public, and private sectors in Australia are eagerly investing in data analytics and business intelligence to increase profits and become industry leaders.
However, many aspects should be considered when hiring BI experts to work with your business. In this blog, we’ll read more about what business intelligence consultants do and how to hire the best BI consulting company to help you achieve your goals.
The BI consultant has many responsibilities in an organization. They help streamline internal processes to increase efficiency and optimize the use of resources. BI experts also help understand customer behavior, market trends, competitors’ moves, etc., for a business to make proactive decisions and stay one step ahead.
A BI consultant is responsible for collecting data analytical reports, managing data storage, documenting the process, and tracking the outcomes of various analytics. Other roles include:
Business intelligence consultants handle multiple tasks and systems simultaneously to ensure that real-time analytics are accessible. They use tools like Microsoft Power BI, Tableau, Qlik, etc., to set up analytics and customized dashboards for data visualizations.
It’s vital to hire experienced BI consultants to ensure seamless data flow and accurate analytics in the enterprise. That’s why many businesses in Australia (and around the world) prefer to hire BI consulting companies instead of building an internal team from scratch.
When hiring a BI consultant for your business, you should start by identifying your organization’s needs. Do you want to adopt data analytics across all departments? Will you start small with a pilot project and scale it over time? What are your priorities? How do your existing legacy systems work? Which areas do you want to improve by using BI?
The top management and C-level executives should have a clear picture of the organization’s past and present. Understand your business goals to know what to expect by adopting the data-driven model in the enterprise.
Do you have the budget to make the necessary changes in your business processes? Paying BI consultants is just one aspect of the project. Consider the bigger picture. The BI specialist will recommend changes to the systems and processes. This costs money and can go out of control if you don’t have a definite budget and funds allocated to it.
This point is crucial for SMBs and emerging businesses with limited finances. Discuss your budget with the BI consultant. Select the processes you want to revamp using BI. Customer service, sales, and marketing are the three most common areas where businesses adopt analytics.
Building an in-house team is very expensive and can easily multiply your costs. However, you can choose between a freelance Power BI consultant and a consulting company. A freelancer usually works alone and has limited resources, while a company has a team of experts and uses its resources to help your business.
Furthermore, partnering with a full-fledged BI company allows you to hand over the entire responsibility to them and focus on your core business. They offer end-to-end solutions and long-term maintenance services to upgrade the systems whenever necessary. Since the company will be familiar with your systems, it becomes easier to detect errors, minimize risks, and increase ROI over time.
Before partnering with a BI consulting company, make sure to read more about the leading service providers and create a shortlist of the ones that suit your business. For example, a small business may not be able to afford the prices of a multinational BI company. In such instances, SMBs can research service providers who specialize in working with growing businesses.
Furthermore, your industry and market are also important. Does the consulting company have experience in the niche and understand the local and national market conditions?
Once you shortlist the BI companies, schedule a meeting with their experts. The meetings can be in-person or virtual but make sure you talk face-to-face to determine which company is the best fit. You can have more than one meeting before making the final decision.
Be sure that the BI consultants can understand your business from your viewpoint and offer a fresh perspective. Your thoughts and goals for the business have to be aligned to eliminate future complications. Finalize the service provider only after careful consideration.
The market has many BI tools with extensive features. Many of these can be used as desktop versions, cloud services (SaaS), and mobile apps. However, its the time to select the one that suits your business processes.
For example, Microsoft Power BI is a popular business intelligence tool used by several enterprises, financial institutions, manufacturing companies, healthcare centers, etc. That way, you can hire a Power BI developer when finalizing the consulting company. The specialist will set up Power BI and integrate it with other software in your business. They will create and customize dashboards based on your requirements.
When you hire outside consultants, they bring a fresh perspective to look at your business and find effective solutions. Furthermore, an experienced consultant will have better domain knowledge and a good grasp of industry standards. This allows you to avoid complications, especially related to data security, data privacy, etc. Since BI mainly deals with collecting and processing data, you should be careful to avoid violating data privacy laws.
Moreover, an outsider will have an impartial view of your business and can identify the weak areas slowing down your progress. You not only look at the internal objectives but will know how to align business goals with market trends/ opportunities and make effective decisions.
Though there are different ways to bridge the talent gap in your business, hiring a Power BI specialist from an offshore service provider is the easiest solution. You don’t have to spend money building an in-house team or developing training modules. The expert will work with your organization until the project is complete and provide the necessary documentation for you to take over.
The ultimate aim of a business would be to gain greater market visibility and become a well-known brand. While the responsibility of building a brand name lies on the marketing team, it’s a joint effort to ensure that the business lives up to the expectations and standards. Business intelligence and data analytics provide the means to achieve this. You can understand the current market position and create a comprehensive strategy to increase your visibility using actionable insights.
Hiring a Power BI consultant is cost-effective in many ways. Firstly, you can rely on data and analytics to identify the right areas for investment and development. Secondly, you can keep track of your expenses and revenue and measure them against various KPIs. BI consultants create different dashboards for financial executives to stay up to date about money flow.
Thirdly, BI helps eliminate additional and unwanted expenses by managing inventory, supply chain, etc. You can find the optional solution where a smaller investment will give you higher ROI and profits.
But how much does Power BI consulting cost? Is it feasible to hire an offshore consulting company? Absolutely, yes. BI consulting providers have flexible pricing for businesses to choose the services they want and pay only for those. You will spend much less when partnering with a Power BI company than doing everything from scratch.
Offshore Power BI consultants use their resources to build and develop models for the client. This frees up your internal resources, which can be used effectively in different departments. Furthermore, business intelligence reports help identify areas for improvement and shorten production or supply chain cycles. Over time, this leads to an increase in business productivity and performance.
Employees and customers are equally important for a business. You should ensure that both parties are happy and want to continue their association with the organization. Though the means to achieve this is different, business intelligence can help HR teams create employee-friendly policies, while the sales and customer service teams work to understand the target audiences and offer better experiences.
In today’s competitive world, businesses cannot afford to wait for others to decide and copy their moves. Trying to control damage or take reactive measures to provide temporary relief. Be proactive and one step ahead of competitors to make the best of the market opportunities. Business intelligence allows decision-makers to rely on the data-driven model and use data visualizations (and actionable insights) to achieve the expected results.
DataToBiz is a leading business intelligence consulting provider offering end-to-end solutions to clients from Australia, Asia, North and South America, and the Middle East. The company helps SMBs, MSMEs, and large enterprises from various industries adopt the data-driven model and revamp their business processes.
DataToBiz offers a range of services, such as:
The company has won several awards and has over 97% project satisfaction rate. DataToBiz is a certified cloud partner of AWS, Microsoft Azure, and Google Cloud. It specializes in offering tailor-made, scalable, and flexible solutions for cost-effective pricing.
Xminds is a global team of developers who work with startups, SMBs, and enterprises by offering an array of services. The company has branches in different parts of the world, including Australia.
The company’s services are as follows:
Xminds follows a tried and tested process to provide customized services to its clients. From elicitation to support and maintenance, the company takes care of everything and helps businesses develop flexible and agile internal processes.
Clavax helps businesses unlock the power of digital product engineering and helps create an environment of innovation and continuous development. The company believes in using imagination, experience, and knowledge to provide technological solutions to clients. It also focuses on building and nurturing long-lasting relationships with clients.
The company’s services include:
Clavax is a Microsoft Gold Partner for cloud solutions. It is also a partner of AWS, IBM (Gold), MAPR, etc. The company specializes in food & restaurant, real estate, and eCommerce industries.
Genese Solution is a digital technology service provider with a presence in different countries like the US, Australia, the UK, etc. The company aims to design, deliver, and innovate various technological solutions for clients from different industries.
It enables digital transformation and provides the following services:
Genese Solution offers guaranteed 10% cost optimization. It enables businesses to adopt reliable, scalable, and innovative solutions to maximize their capabilities and increase returns. It also has a Genese Cloud Academy to bridge the gap between academia and industry requirements.
BI implementation can be successful when the service provider and the organization work together to achieve the desired results. You can hire the best business intelligence consultants in Australia to streamline your internal processes and optimize costs.
Data analytics and BI will continue to play a crucial role in helping organizations understand their data and derive useful insights in real-time. Talk to our team to adopt BI and data-driven models in your business.
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