Analytics RFP Template

An analytics RFP template gives you a structure for asking vendors or consultants to propose how they would solve a reporting, forecasting or planning problem, in a form you can compare. A request for proposal is worth the effort when the purchase is significant, several providers could do the work and you want to treat them consistently. It is a poor fit for a small, urgent job where a short conversation and a pilot would do. Below is a section-by-section template you can copy, with guidance on what each part should contain. It is part of business analytics for finance and operations, follows should you outsource analytics? and how to select a BI vendor, and leads to an analytics case study and consultant vs. in-house analyst. Clear requirements also help the budgets in budgeting and forecasting.

1. Introduction and purpose

Describe your company in a short paragraph: what you sell, your size, your locations and the systems you use. State the purpose of the RFP in two or three sentences. Example: "We are seeking a partner to design and build reporting for sales, inventory and margin, replacing a set of manually produced spreadsheets, and to train our team to run it." Say how the process will work, who is running it and who to contact. Name a single point of contact and ask that all questions go through that person, so that every bidder receives the same information.

2. Background and current state

Give enough context for a provider to understand the problem. Cover the current process and its pain points, the data sources and their condition, the tools in use, the number of users and the volume of data. Be honest about the mess. Providers who see the real situation can price it properly, and those who do not will add change orders later. Attach, or offer under a confidentiality agreement, a sample of the current reports and a data dictionary if you have one.

3. Objectives and success measures

List what the project should achieve in measurable terms.

4. Scope of work

Define what is included and excluded: data sources to be connected, reports and dashboards to be produced, the forecasting or modeling work, the training and documentation expected and the support period. List the deliverables, and mark any that are optional so that you can compare prices. State clearly what your own team will do, such as providing data access and testing.

5. Requirements

Present requirements in a table, so that vendors respond to each in the same way. Mark each as must-have (M), should-have (S) or nice-to-have (N).

6. Questions for the vendor

Ask questions that reveal how they work and not only what they claim:

1. Describe two projects similar to ours. What was the outcome and what would you do differently?
2. Who will work on this? Provide roles, experience and the share of time each will spend.
3. What is your approach and timeline? What do you need from us, and when?
4. How do you handle changes in scope?
5. What do you provide at handover, and how do you train our staff?
6. How do you secure our data?
7. What are the main risks, and how would you manage them?
8. Provide two references from clients of similar size.

7. Pricing and commercial terms

Ask for pricing in a standard format: fees by phase, rates for additional work, expenses, and any software or license charges, shown separately. Ask for the assumptions the price rests on, the payment schedule, and the terms for changes and termination. Ask who will own the work product and how intellectual property is handled.

8. Evaluation criteria and process

Tell bidders how they will be judged, which builds trust and produces better proposals.

Multiply each score by its weight and sum the results, with a maximum of 500. Agree the weights before opening proposals.

9. Timeline

Allow bidders enough time, commonly two to three weeks, to prepare a thoughtful response.

10. Submission instructions

State the format, page limits, the deadline, the contact and how to submit. Ask for a response structured to match your sections, which makes comparison far easier.

Tips for a fair process

Send the same information to everyone. Share answers to questions with all bidders. Limit the list to three to five invited providers. Keep notes on why you scored as you did. Be wary of proposals that ignore your requirements and propose a standard product. Run the final one or two through a short paid pilot before signing, if you can.

Want a working version?

If you would like help writing an RFP for a planning, forecasting or inventory analytics project, or deciding whether you need one, contact us. Newtown Analytics is a demand planning and inventory optimization consultancy, and we will tell you plainly whether your need is something we do.