In the past decade, a wide range of predictions emerged regarding the future of enterprise business intelligence. They range from the notion of “BI is dead,” or “AI is the next BI” to “BI is the path to the Intelligent Enterprise.” If we are honest, none of these prophecies have materialized so far. We believe that business intelligence will be around for a long time and in fact continue to evolve and take different forms providing new levels of actionable insight. At the same time however, many companies have gone through a painful learning curve when it comes to BI, and some have in fact concluded that enterprise business intelligence is too complex, too costly, too little value adding, and not worth the effort. In this book, we want to make a case “pro” enterprise BI and outline a strategic approach. However, to convince stakeholders of a strategic approach to enterprise BI, we need good answers to the following questions: What is a BI strategy good for? Why is BI strategy development important? What are the key drivers and expected benefits of a BI strategy? What do I need to change to be successful and what does success look like? These fundamental questions will guide us in this chapter. Since there is no unique definition of business intelligence, we will first begin with a brief overview of the history of BI, including how the meaning of the term “business intelligence” originated and evolved over time. For quick readers, we recommend our one-pager with a very brief description of what a BI strategy is not, and of course what a BI strategy is (in a nutshell). A good starting point for a BI strategy is to know your baseline/as-is situation. Companies mostly know their pain-points and are not interested or willing to spend too much time and effort on in-depth analyses of their current situation and opportunities for improvement. For this reason, we will describe a proven, concise, and practical guide for the practitioner how to quickly identify and make explicit the burning issues in the BI space. Knowing your challenges is one thing, but knowing where the markets and competition are heading is much more helpful in developing a forward-looking BI strategy. Therefore, in the following chapter, we explore and contextualize some of the dominant BI trends, including the underlying drivers of change. In the final section, we summarize our initial findings and recommendations to provide some initial guidance for BI strategy development. At the heart of this is the development of a transparent way of aligning business value expectations with the value contribution of BI. The documentation of this ambition and commitment to the organization is what we call the “BI strategy.”