Data is as valuable as currency for the modern business, and choosing the best business intelligence consulting company to make use of it is vital for survival.

Like a trusty companion who's been down this path a thousand times, the right BI consultant can simplify what seems complex, turn chaos into clarity, and guide your business decisions with confidence.

Mismanaged data can lead to missed opportunities, skewed analytics, and ultimately, business decisions that could derail your company's strategic objectives. 

But when done right, effective business intelligence consulting illuminates the path to innovation, operational efficiency, and a significant competitive edge.

Key Benefits of Partnering with a Trusted BI Advisory Firm

Partnering with a BI advisory firm can offer several significant advantages to your business, especially if you're not already deeply familiar with the intricacies of BI. 

Here’s a quick breakdown of what your business could gain with enterprise business intelligence consulting:

Expert Guidance and Strategy Development

BI advisory firms specialize in data analysis and are well-versed in the latest technologies and methodologies in the field. They bring a wealth of knowledge that can help tailor a BI strategy that aligns with your business goals. Plus, they can develop a comprehensive BI strategy that includes identifying key performance indicators (KPIs), implementing governance models, and ensuring that your BI tools are aligned with your business objectives.

Improved Decision-Making

BI advisors help you harness and interpret complex data sets by leveraging data. The actionable insights that you get out of the partnership can inform your organization’s decision-making, from operational changes to strategic pivots. With their expertise, you can accelerate the process of turning raw data into insights for much quicker responses to market changes and internal demands.

Enhanced Data Quality and Management

Advisors can help improve the accuracy, consistency, and completeness of your data, which is crucial for reliable analytics. They assist in establishing proper data management practices so your data is accessible yet secure and compliant with regulations.

Cost Efficiency

Identifying inefficiencies and streamling operations is essential for cutting costs. BI advisors know precisely the steps you can take to reduce costs. Additionally, they can prevent investment in unsuitable technologies. Advisors ensure that investments in BI are strategically placed, potentially saving money on unnecessary or redundant technology.

Competitive Advantage

BI consultants can identify and analyze trends and benchmarks in your industry, giving you a leg up on competitors by spotting opportunities or risks earlier. Understanding customer behavior through data analysis can lead to better customer service, targeted marketing strategies, and ultimately, improved customer satisfaction.

Scalability and Flexibility

As your business grows, BI advisors can help scale your BI solutions to handle increased data loads and more complex analytics. BI advisors can give you the guidance needed on the best BI platforms so you can adapt to changing business needs without extensive overhaul.

Training and Support

BI advisory firms often offer training for your team, ensuring that staff can effectively use BI tools and understand the insights generated. They can provide ongoing support and maintenance of BI systems, helping to resolve any issues quickly and keep systems up-to-date.

Innovation and Guidance on New Technologies

Advisors keep up with the latest BI technologies and industry best practices, which can help your company stay innovative. They can guide the implementation of cutting-edge tools like AI and machine learning in your BI processes, so you avoid any missteps that can pop up with new tech..

Business Intelligence Services That Every Great Consultant Should Offer

A great BI consultant should offer a comprehensive suite of services that covers every aspect of BI, from data management to advanced analytics. The best business intelligence consulting companies will have all of these and possibly more in their list of services. Here are a few of the services that will help you the most if you’re looking to beef up your BI:

Data Warehousing

Data warehousing, or the creation and maintenance of a central repository where data from various sources is integrated, consolidated, and stored. It's foundational for enabling sophisticated analytics. Data warehousing supports data consistency and quality, making it easier for businesses to carry out complex queries and generate reports. A well-structured data warehouse is crucial for speed and accuracy in reporting.

Data Integration and ETL

Data integration services focus on consolidating data from disparate sources to provide a unified view. ETL is a type of data integration that involves extracting data from external sources, transforming it into a suitable format, and loading it into a system like a data warehouse. These processes ensure that data collected from various sources is homogenized and prepared for analysis, which is essential for accurate BI.

Data Quality Management

Data quality management is one of the most vital components. It ensures that the data is accurate, complete, and reliable. It involves cleaning data, implementing controls to prevent data errors, and continuous monitoring. High-quality data is critical for making informed decisions. Poor data quality can lead to erroneous conclusions and potentially costly mistakes.

Business Analytics

Business analytics involves the practical application of statistical analysis and technologies on business data to identify trends, patterns, and insights.

Importance: This service helps businesses understand their operations, predict trends, and make data-driven decisions to improve performance.

Reporting and Visualization

The design and creation of dashboards and reports that visualize data in an easily digestible format is extremely important. Why? Every key stakeholder, despite their familiarity with deciphering the data points, needs to be able to understand that data. Simple visualizations make that possible. Effective reports and visualizations translate complex data sets into clear insights that can be understood by stakeholders at all levels, supporting strategic decisions and day-to-day operations.

Advanced Analytics

Making data easier to understand doesn’t mean that you should completely overlook the technical details. To get the whole picture, you still need to include predictive analytics, machine learning, and data mining, which go beyond traditional BI to forecast future trends and behaviors. Advanced analytics can provide businesses with a competitive edge by predicting future market conditions, customer behavior, and potential risks.

Regulatory Compliance and Data Governance

Complying with regulations might not be the fun part that everyone looks forward, but you still have to give it the same attention as everything else. Implementing policies and systems that ensure data is managed and used in compliance with legal and ethical standards will protect your company from legal issues related to data breaches or non-compliance with regulations like GDPR.

BI Strategy and Roadmap Development

Consultants should help you develop a BI strategy that aligns with your overall business strategy, including a clear roadmap that defines how BI will be executed over time. A strategic approach ensures that BI initiatives are focused and structured to deliver measurable business value and align with long-term goals.

Training and Support

BI guidance is useless if it isn’t ongoing. You don’t want a company who gives you a bit of advice and then leaves you high and dry to figure out the implementation yourself. One of your holy grails when looking for the right BI advisor is making sure the company in question provides the training for your team on how to use BI tools and interpret your data effectively—not to mention providing ongoing support to address any BI-related issues. Empowering employees with the knowledge to utilize BI tools maximizes the investment in BI technology and fosters a data-driven culture.

How to Choose the Right Partner

Choosing the right BI partner is a critical decision that can determine the success of your BI initiatives. But how do you approach this process while still making sure that the BI consultancy you pick aligns well with your business needs and can actually deliver tangible results?

1. Understand Your Business Needs and Objectives

Before you start looking for a BI partner, it's essential to have a clear understanding of what you want to achieve with your BI projects. Define specific business outcomes you expect, such as improved data accuracy, faster reporting times, or enhanced decision-making capabilities. Clarity will help you communicate your needs more effectively to potential partners and evaluate their suitability.

2. Evaluate Technical Expertise and Experience

Assess the technical expertise of potential BI partners. Look for a consultancy with a proven track record in your industry or with the specific technologies you use or intend to use. Experience in similar industries means they're likely to be familiar with common challenges and regulatory requirements specific to your field. Ask for case studies, references, or success stories that demonstrate their ability to handle projects similar to yours.

3. Consider Their Approach to Data Governance and Compliance

Ensure that any BI partner you consider has strong competencies in data governance and regulatory compliance. They should have clear policies and a track record of managing data in a way that complies with relevant laws and standards, such as GDPR for companies handling data of EU citizens. This is crucial to avoid legal risks and protect your company’s reputation.

4. Check for a Cultural Fit

The BI partner’s working style should mesh well with your company's culture. Cultural alignment is crucial for long-term collaboration. Evaluate their communication style, commitment to deadlines, and their approach to client relationships during the selection process. A partner that values transparency and open communication can significantly enhance the effectiveness of your BI initiatives.

5. Ask About Their Tools and Technologies

Different BI consultants may specialize in different BI tools and platforms. Make sure that the tools and technologies they use are compatible with your existing systems, or that you are prepared to invest in new technologies if they offer significant advantages. The right tools can have a substantial impact on the success of your BI initiatives.

6. Solicit Proposals and Conduct Interviews

Finally, solicit detailed proposals from a shortlist of potential partners. These proposals should outline how they plan to meet your BI needs, the technologies they will use, the project timeline, and the costs involved. Conduct interviews or workshops with the finalists to challenge their proposals and assess their problem-solving abilities in real-time.

The 8 Best Business Intelligence Consulting Companies in 2024

1. MSH
2. Boston Consulting
3. FTT Consulting
4. Accenture
5. EY
6. IBM
7. Domo
8. Sisense

1. MSH

We're not shy about tooting our own horn—after all, if we don't vouch for ourselves, who will? artnering with MSH for business intelligence isn’t just about ticking a box—it’s about setting up a BI powerhouse with a team that’s seen it all.

Our commitment and the results we've delivered speak for themselves. We've had the privilege of providing BI consulting services for industry giants and innovative startups alike, which has honed our ability to adapt and succeed in any corporate culture and market condition.

Including a large scale data migration for a logistics company and complex data warehousing implementation for a security service.

Here’s what makes us stand out:

Enterprise expertise: We bring seasoned pros to the table who know the ins and outs of enterprise-level BI. With MSH, you get more than just a service—you get a partner with a track record for tackling big, complex BI challenges.

Cutting-edge tech: We don’t settle for “good enough.” From platforms like Domo and Integrate.io to the latest in AI and machine learning, we bring top-tier tech to every project.

End-to-end consultation: We cover all the bases—from data wrangling to predictive modeling—so no part of your BI journey is left hanging. Our end-to-end approach means we’re with you from strategy to actionable insights.

Actionable insights, not just data dumps: Data’s great, but it’s the insights that move the needle. We focus on delivering the kind of insights that drive decisions, not just dashboards.

People-first approach: Technology should work for people, not the other way around. That’s why our solutions aren’t just powerful; they’re also built to be intuitive, so your team can actually put them to use.

2. Boston Consulting

Boston Consulting Group (BCG) is a global management consulting firm founded in 1963, headquartered in Boston, USA. BCG advises clients in the private, public, and not-for-profit sectors around the world, including many of the world’s largest companies and organizations. They specialize in addressing complex challenges and transformations, with a focus on sustainable competitive advantage and driving large-scale organizational change.

Services offered: Business Management Consulting, Digital Ventures, Sustainability, Data Science & Advanced Analytics, Operations & Strategy Implementation.

3. FTT Consulting

FTI Consulting is a global business advisory firm that was founded in 1982. The company is known for its work in corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications, and technology. FTI Consulting serves clients across a wide range of industries, including financial services, healthcare, retail, energy, and real estate, helping them address complex business challenges and major investigations.

Services offered: Corporate Finance & Restructuring, Economic Consulting, Forensic & Litigation Consulting, Strategic Communications, Technology Solutions.

4. Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology, and operations. Founded in 1989 and headquartered in Dublin, Ireland, Accenture collaborates with clients to help them become high-performance businesses and governments. The company is known for its deep expertise across more than 40 industries and all business functions, delivered through a combination of industry knowledge, technology capabilities, and strategic alliances.

Services offered: Strategy & Consulting, Interactive, Technology, Operations, Accenture Song.

5. EY (Ernst & Young)

EY is a global leader in assurance, tax, transaction, and advisory services. The insights and quality services they deliver help build trust and confidence in the capital markets and in economies the world over. They develop outstanding leaders who team to deliver on their promises to all of their stakeholders. EY works with a wide range of industries, including financial services, consumer products, technology, and the public sector.

Services offered: Assurance, Advisory, Tax, Transaction Advisory Services.

6. IBM

IBM stands as one of the largest and most established information technology companies in the world. Founded over a century ago, IBM specializes in manufacturing and marketing computer hardware, middleware, and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM has shifted its business focus to include data analytics and cloud computing and works with clients in various sectors like healthcare, retail, and finance.

Services offered include cloud computing, cognitive computing, blockchain, AI and machine learning, business services, and IT infrastructure.

7. Domo

Domo is a cloud software company specializing in business intelligence tools and data visualization. Founded in 2010, Domo provides a SaaS platform that helps managers and executives manage their business by connecting them to the relevant data they need for better decision-making. Domo serves industries ranging from retail to media, technology, and financial services.

Services offered: Business Intelligence, Data Visualization, Data Integration, Data Management Platform.

8. Sisense

Sisense empowers builders of analytic apps with its leading platform to simplify complex data and provide insights to everyone across a business. Sisense helps to infuse analytics anywhere, through its AI-driven platform that delivers industry-leading ROI. Known for its innovation in business intelligence, Sisense enables its clients across industries such as healthcare, retail, and manufacturing to scale analytics and make data-driven decisions.

Services offered: Business Intelligence, Integrated Analytics, Embedded Analytics, AI and Machine Learning.

Big Takeaway

If you’re wondering where to start, contact MSH today to set up a consultation. We’ll consider every aspect of your situation and find out how to make the most out of your data.