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get started with data dashboards

Validate your data dashboard idea, check financial health, write a high-level business plan, and build your MVP using the icCube software and InsideVision.

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get started with data dashboards

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  1. get started with data dashboards from idea validation to your MVP launch continue yes / no ? validate with your colleagues, your friends, or with us. Do you have a viable plan? 02 check financial health estimate your 5-year income statement 01 idea validation write your high-level business plan

  2. 05 get started with data dashboards from idea validation to your MVP launch 04 validate & tune validate your MVP with customers 03 icCube MVP build your dashboard product in icCube online 02 prepare what you have build your data model in SQL, Excel, Power BI, ... check financial health estimate your 5-year income statement 01 idea validation write your high-level business plan

  3. other steps are describedat how to start. this powerpoint discusses only the first step idea validation 01 write your high-level business plan • The main goal of this exercise is: • to see if you could get a viable business with your idea for a data dashboard product for your industry • if there is any blocking issue that will prevent you from going forward

  4. answer the following questions and create your high-level business plan • what is the problem you are going to solve? • how will your data dashboards be the solution? • why is now the time to act? • how big is your market? • what is the competition? • what is the uniqueness of your data dashboard product? • how will you acquire customers? • what will be your business model? • how will your financials look like? (based on Sequoia, more reading on “writing a business plan”)

  5. the problem this is what the data dashboard product will solve Describe the problem that you are going to solve. Not yet the solution. Use these questions to exactly pinpoint what is wrong in the current situation of your (to be) clients. • what current pains does your target audience/customer have with data? • how do they solve it right now? • who are feeling the pain? • what is the consequence of having these pains? • financial consequence (additional expenses, lost opportunities, ...) • social (peoples opinions) • environmental • etc.

  6. the solution how will your data dashboards be the solution How will your data dashboard product solve the problem? • what will your data dashboard solution look like? • where will you get your data? • will your dashboards be created on top of an existing ERP system (or the like)? • what is so different on • how you get your data • how you apply logic to your data • how you present your data • why is it so much better than the other available options? • how will your product be used? sample use cases.

  7. why now? why is now the time to act? • put your proposed product in historical context • what used to be a solution • how did solution progress • how does your solution fit right in? • why wouldn’t it have worked before? • most likely because you did not have the right data dashboard software that would allow you to create a product in a cost-effective way. • why will it work now? • because you will have the right approach, the right software (icCube) and the right partner (InsideVision) • and because you are the industry expert that knows what your target audience needs

  8. market size find out your market size • how many customers make use of ERP systems that contain the data on which you will build the dashboards • for example: you plan to create dashboards for a software system ABC. How many customers are now using system ABC? • segment your customers in small, medium and big • define the maximum number of clients per segment • estimate the number of dashboard users per client per segment • what part of that market can you realistically obtain? • be reasonable! • how will this grow in five years

  9. market size find out your market size • you will need the following parameters for the financial model:

  10. the competition what is already available and what is the competition doing? • are other companies providing dashboards and/or data services in your industry? • what are your key competitive advantages?most likely this will be: • industry intelligence is included out-of-the-box in the product • best practice dashboards & insights based on X years of industry expertise • your clients do not need a BI/dashboard tool (incl. extra licenses) • no expensive consultants required to implement the dashboard solution • easy rollout to new clients (within the hours when your solution is fully automated) • high-quality for low-price • check what your competition is offering and if these advantages are really competitive

  11. the product data dashboards as a product At this moment, it is a bit difficult for you to imagine how your product would look like. You could have a look at our demo’s, but best is to create the product yourself later in step 4. icCube MVP. For now • Write down what you understand of the concept of data dashboards as a product with the icCube software and InsideVision services. We’ll validate that later. • Intellectual property of the dashboards and insights is with you. • The road map so far is pretty simple: • MVP > first release on limited set of customers > rollout big • Discuss any customer feedback to date • It is ok, if the feedback is on your existing model, dashboards, charts that you want to integrate.

  12. customer acquisition your strategy to win customers • what is the customer acquisition strategy? • most elegant model is to create dashboards first for an existing software application that has no dashboards of its own yet • define the acquisition channels • partner with the software company • other? • what is the expected cost to acquire customers? • this will be an assumption in the financial model • describe any customer traction to date and how you gained those customers • you might launch your idea on LinkedIn/ Facebook/ friends and see what responses you get.

  13. business model this is how you will earn money • your company will earn revenue by means of subscriptions • the following model is used:

  14. financials 5 year - net profit forecast • based on your parameters, you can get a rough indication on your 5-year income • use the Excel sheet from www.inside-vision.com/financial-outlook-for-data-dashboards

  15. idea validation is your baby going to fly? Draft your answers as a nice power point high-level business plan and have your colleagues/ friends have a critical look at it. You can also contact us to have a look on what is feasible. The main goal of this exercise is: • to see if you could get a viable business with your idea for a data dashboard product for your industry • if there is any blocking issue that will prevent you from going forward

  16. more info further reading • build a data dashboard product, visit www.inside-vision.com • getting started with data dashboards as a product of your own • Sequoia “Writing a Business Plan” at www.sequoiacap.com

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