5 Business Intelligence Consulting Service Success Stories [2024]
Unlock the potential of data-driven decisions with a business intelligence consulting service. In simple terms, this service involves helping companies collect, analyze, and interpret business data to make better decisions and improve performance.
As a business intelligence consultant, you'll work with client companies to transform their raw data into actionable insights. This involves setting up data reporting systems, creating dashboards, and providing strategic recommendations based on the data analysis.
The value in business intelligence consulting lies in its ability to drastically improve a company's efficiency and competitive edge. With the right expertise, you're not just a consultant; you're a pivotal partner in a company's growth strategy.
Starting a business intelligence consulting service puts you at the heart of the data revolution. If you have a knack for analytics and a head for business, this could be the seamless path to a rewarding enterprise. Engaging, impactful, and future-centric—it's a business idea worth considering.
In this list, you'll find real-world business intelligence consulting service success stories and very profitable examples of starting a business intelligence consulting service that makes money.
1. Dezan Shira & Associates ($18M/year)
Chris Devonshire-Ellis started Dezan Shira & Associates in Hong Kong in 1992 with very little capital. Despite warnings not to go to China, he saw its potential and moved there to explore business opportunities. Through hard work, strategic networking, and innovative marketing techniques such as distributing pamphlets and utilizing the internet, the business grew to become one of the most influential consulting practices in Asia with 28 offices across the region and a turnover of approximately $20 million per annum.
How much money it makes: $18M/year
How much did it cost to start: $2K
How many people on the team: 300
Asian-focused consulting firm Dezan Shira & Associates, founded in Hong Kong in 1992, has expanded to include 28 offices and a client base of several thousand companies with US$20 million in annual turnover, handling about US$8 billion in foreign investment into Asia, by determined hard work and creativity in marketing, billing structure and hiring equity-dependent staff.
2. Addepto ($1.26M/year)
Addepto, a leading AI consulting firm, was founded by Edwin Lisowski and Artur Haponik. With their shared passion for new technologies, they recognized the potential of AI-driven solutions for businesses and decided to start a company that offers customized data-driven solutions. Over the years, their focus on providing high-quality services and building a strong brand image has helped them attract and retain customers, leading to their remarkable success in the industry.
How much money it makes: $1.26M/year
How much did it cost to start: $30K
How many people on the team: 25
Addepto is an AI consulting business that has grown to over 30 employees and generated $1.26 million per year by offering customized solutions to clients, minimizing business risks with AI, integrating data from multiple sources, and optimizing logistic processes.
3. Trust Insights ($480K/year)
Katie, the CEO of Trust Insights, co-founded the company in 2017 after noticing a lack of transparency and understanding in the marketing industry when it came to data analysis. She wanted to change the culture and be a voice for those intimidated by advanced technology, focusing on marrying data analysis with change management. Through their services and customer relationships, Trust Insights has been successful in retaining long-term clients and building a community through their Free Slack Community, Analytics for Marketers.
How much money it makes: $480K/year
How much did it cost to start: $2K
How many people on the team: 0
Trust Insights is a digital marketing consultancy that focuses on data analysis, utilizing Artificial Intelligence to solve problems and help businesses understand how to use their data to their advantage, with a free Slack community that boasts over 2,500 members and a weekly email with over 20,000 subscribers.
4. Aucoin Analytics, LLC ($166K/year)
Kervin Aucoin, a 15-year Army veteran and 20+ year Intelligence analyst, came up with the idea for Aucoin Analytics after realizing the need for an unbiased and well-informed travel security platform. Through blogging about his travel experiences and witnessing the detrimental effects of sensationalized news, Kervin developed a subscription-based private intelligence community that focuses on defeating fake news and providing accurate information. With a low overhead, Aucoin Analytics has seen profits of $10,000/month and offers specialized risk assessments and intelligence reports tailored to customers' needs.
How much money it makes: $166K/year
How much did it cost to start: $25K
How many people on the team: 1
Aucoin Analytics, LLC is a private intelligence company that delivers highly specialized risk assessments and intelligence reports, while also offering a subscription-based private intelligence community that provides access to subject matter experts in government intelligence, with profits at $10,000/month.
5. Decidable ($12K/year)
Decidable, founded by Craig Smith and Mike Bugembe, was born out of their shared frustration with the low levels of insight adoption in businesses and the inability of leaders to harness the value of data. After collaborating on the vision of data storytelling, they developed a platform that automatically translates complex data into short, easy-to-read stories, enabling businesses to make informed decisions. The company's innovative products, such as automated Google Analytics stories and e-commerce data sources, have already helped beta customers increase daily revenue by 25-40%, demonstrating the impressive potential for growth.
How much money it makes: $12K/year
How much did it cost to start: $1M
How many people on the team: 2
Decidable has created an automated Google Analytics platform that helps UK e-commerce companies between £5m-£50m find all the missed revenue in their data with some of their Beta customers seeing daily revenue increases of between 25% - 40%.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
