How to justify the budget for self-service BI tools?

Question

Hi! How do you calculate ROI for expenses spent on self-service BI tools and services? How do you justify the budget regarding them? It seems to me that it's not that easy to calculate quantitative benefit from using BI in the company. How do you decide that it's a profitable decision? Thanks!

Maxwell Davis · Accepted Answer

@gregz Yeah a tough one - might be worth having a look to see if there any academic and or consultancy papers/reports as they'll tell you what factors were considered and how they got to their conclusions.

Maxwell Davis · Answer

BI - Business Intelligence, Business Improvement, some other BI acronym I don't know? 😁

Greg Z · Answer

@maxwellcdavis Business Intelligence. It's mostly regarding budget allocation for self-service business intelligence tools and services to manage/analyze data.

Greg Z · Answer

Yes, I've tried already, no luck. The only one suggestion I found is to use estimates on time spent to extract or analyze some data manually versus BI tool, and the man-hour x salary per hour would be the quantitative answer.

How to justify the budget for self-service BI tools?

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