What about product pricing? Can we maximize sales by offering more dynamic pricing for specific customer segments?. What if we focus more on retention rather than acquisition marketing? Acquisition costs would go down and we may generate more sales over the customer lifecycle. Can we focus on a particular segment of customers in order to maximize overall sales?. How can we use our marketing budgets more efficiently? Are we spending the optimal amount on each channel? Non-optimized spending can quickly deplete marketing budgets, especially in a highly competitive niche. How can we utilize our customers’ data to ensure that they stay with us? Clearly, keeping a customer active for longer will reduce acquisition costs while increasing lifetime sales. So, what does “improve sales while reducing acquisition costs” mean to someone other than the CEO or shareholder? This is a rather loaded remit, but what could it mean tactically? We’ve broken this down into smaller problem statements: Translate strategic objectives into specific problem statements Utilizing this four-step approach will enable companies to make informed decisions about committing time and resources to data mining and analytics projects by using comprehensive cost/benefit analysis. This article details a high-level framework for streamlining your BI project plan. The most compelling of these use cases can then be added to the implementation queue. However, to prepare even these basic inputs, companies should follow a structured approach to developing the business cases, which senior management can then evaluate. Project managers then work within these constraints to deliver the final project. Successful implementations require that expected outcomes be clearly defined, resources earmarked, ballpark delivery estimates published, and risks captured in advance. 
While companies employ several methodologies for implementing business intelligence projects, the same rigor is rarely applied when planning them.
Completing these projects is no simple task but the one requiring the company to define the specific business problem, allocate resources, evaluate the outcomes from a business perspective, and operationalize the modeling process recommendations. However, companies still struggle when implementing BI solutions. Business intelligence, or the art of utilizing data to find hidden patterns and insights, has become integral to strategy development for leading organizations, including Fortune 500 companies, government agencies, and academic institutions.
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