How One Company Used BI To Strengthen Their Pitch To Venture Capitalist Investors
“Visualizations clearly outlined the direction of the company to investors, and a new visualization tool opened business development team members’ eyes to new prospects.”
Situation
Recently a venture capital backed utility company was looking to use the data they had to strengthen their case with potential investors. They wanted to continue their goal of buying up smaller utility companies and integrating them into their business, but they needed their case to be packed with actionable data that would be easy to digest and- above all- compelling. The visualizations needed to use data to clearly outline their vision and the specific regions and businesses they would be targeting and to forecast the long-term potential benefit to the business if they received the investments they were looking for.
Beyond making their case more compelling to venture capitalists, the company needed a data-driven, more efficient way for their business development team to identify new prospects using government-provided data. Previously they were using Excel spreadsheets alone to analyze massive amounts of data. They saw some success with this approach up until this point, but they needed a more streamlined process for their team to analyze such large amounts of data and identify prospects.
Solution
By using one of our favorite BI solutions, Tableau, on top of the company's database, team CSG was able to create visualizations that would clearly outline the direction of the company to investors. Further, we streamlined their data preparation processes so that data became more quickly available for analysis, allowing them to gain insight and act on their data sooner than ever before.
In the area of helping business development team members quickly identify new prospects, we implemented a new BI solution with visualization capabilities. Using government-sourced data, employees could visualize all potential business prospects on a map. (Much easier to digest than a spreadsheet, right?) With the introduction of a self-service solution, each member of the business development team could dive into their particular region, look at each prospect in detail, and more efficiently analyze if the prospect was worth pursuing.
Beyond having quicker access to the information they needed, this solution opened business development team members’ eyes to prospects they might not have noticed before when sifting through a spreadsheet. Visualization allowed them to work with the data in a more fluid, engaging way and opened their eyes to prospects they might have missed previously, creating new opportunity for the company.
