Business Case Template for Strategic Research
Need to justify investment in strategic research tools? Use this template to build a compelling business case that quantifies the ROI of AI-powered research vs. traditional alternatives.
Why You Need a Business Case
Strategic research is essential for good decision-making, but budget approvals require justification. Whether you're proposing Luminix, consulting engagements, or internal research capacity, a solid business case helps stakeholders understand the value.
Quantify the Problem
Help stakeholders understand the cost of making decisions without adequate research—failed launches, missed opportunities, competitive blind spots.
Compare Alternatives
Show how AI-powered research compares to consultants, syndicated reports, and DIY approaches on cost, speed, and quality.
Project ROI
Calculate the expected return from better decisions, faster insights, and more strategic confidence.
The Business Case Template
Copy and customize for your organization
1. Executive Summary
[Company Name] requires strategic research capabilities to support [key initiatives: product strategy, market expansion, competitive positioning, etc.]. Current approaches are either too expensive, too slow, or too shallow to meet our needs.
This business case recommends [your recommendation] as the optimal solution, delivering:
- Cost savings: [X%] reduction vs. current approach
- Speed improvement: Insights in [days vs. weeks/months]
- Capacity expansion: [X] more research projects per quarter
Investment required: [$X/year]
Expected ROI: [X]x in first year
2. Problem Statement
Current Challenges
Our organization faces several strategic research challenges:
- Cost: Current consulting engagements average [$X] per project
- Speed: Typical research projects take [X weeks/months] to complete
- Capacity: Budget constraints limit us to [X] major research projects annually
- Timeliness: Market conditions often change before research is delivered
Business Impact
These limitations have resulted in:
- Decisions made with incomplete competitive intelligence
- Delayed product launches due to slow market validation
- Missed opportunities requiring quick market assessment
- [Add specific examples from your organization]
Cost of Inaction
Estimate the annual cost of suboptimal decisions:
- Product failures/pivots: [$X]
- Missed market opportunities: [$X]
- Competitive disadvantage: [$X]
3. Solution Options
Option A: Status Quo (Traditional Consulting)
- Cost: $50,000-$200,000 per project
- Timeline: 4-16 weeks per project
- Capacity: 2-4 major projects per year
- Pros: Deep expertise, stakeholder facilitation
- Cons: High cost, slow delivery, limited iterations
Option B: Syndicated Research Reports
- Cost: $2,000-$10,000 per report
- Timeline: Immediate (pre-existing)
- Capacity: Unlimited access to published reports
- Pros: Quick access, professional analysis
- Cons: Generic, often outdated, may not address specific questions
Option C: AI-Powered Strategic Research (Luminix)
- Cost: $99/month or $5-50 per project (pay-per-use)
- Timeline: Hours to days per project
- Capacity: Unlimited projects
- Pros: Fast, affordable, customized, comprehensive
- Cons: External data only (no internal stakeholder interviews)
Option D: Build Internal Research Team
- Cost: $150,000-$300,000+ per analyst (fully loaded)
- Timeline: Weeks per project (after 6-month ramp)
- Capacity: 10-15 projects per analyst per year
- Pros: Institutional knowledge, dedicated resource
- Cons: High fixed cost, hiring risk, limited scalability
4. Cost Analysis
Annual Research Spend Comparison
Assuming 12 strategic research projects per year:
| Option | Annual Cost | Projects/Year | Cost/Project |
|---|---|---|---|
| Traditional Consulting | $600,000 - $2.4M | 3-12 | $50K-$200K |
| Syndicated Reports | $24,000 - $120,000 | 12 | $2K-$10K |
| Luminix (Pro) | $1,188 | Unlimited | ~$99/mo |
| Internal Team (1 FTE) | $150,000 - $300,000 | 10-15 | $15K-$20K |
Total Cost of Ownership
Beyond direct costs, consider:
- Opportunity cost of delays: Traditional research takes 4-16 weeks. How much is speed worth?
- Iteration costs: Consulting change orders can add 20-50% to project costs
- Internal time: Managing consultants requires significant stakeholder time
5. ROI Projection
Value Drivers
Quantify the value of better strategic research:
- Better decision quality: What is one avoided bad product decision worth? [$X]
- Faster time to insight: What is getting answers in days vs. months worth? [$X]
- More strategic questions answered: What opportunities are missed due to research constraints? [$X]
Sample ROI Calculation
Note: Adjust these figures based on your organization's specific context and expected use cases.
6. Recommendation
Based on this analysis, we recommend:
Primary: Adopt Luminix as the default strategic research platform
- Investment: $99/month (Professional plan)
- Use cases: Competitive intelligence, market research, strategic questions
- Expected capacity: 20-50+ research projects annually
Supplementary: Reserve consulting for specific situations
- Projects requiring internal stakeholder interviews
- Work requiring organizational change management
- Board-level presentations with external validation needs
Implementation Plan
- Month 1: Trial with 2-3 strategic questions
- Month 2: Expand to full team access
- Month 3+: Integrate into standard research processes
Success Metrics
- Number of strategic questions answered per quarter
- Time from question to actionable insight
- Stakeholder satisfaction with research quality
- Cost per research project
Tips for a Winning Business Case
Use Real Numbers
Replace placeholders with your organization's actual costs, timelines, and project counts. Specificity builds credibility.
Quantify the Status Quo
Decision-makers need to understand the cost of doing nothing. Calculate current spend and identify inefficiencies.
Start with Quick Wins
Propose a trial period with specific deliverables. Demonstrable results build the case for broader adoption.
Align with Stakeholders
Frame the investment in terms of what decision-makers care about: speed, cost savings, competitive advantage, or risk reduction.
Ready to Make the Case?
Try Luminix free and build your business case with real results to share.