Without a clear process, a BI strategy simply cannot be developed. This process consists of multiple activities in a defined sequence and is typically iterated in defined cycles. To be able to direct these activities to a common and sustainable goal, it is additionally valuable to agree on a north star/vision upfront. First, we will explore how to develop an attractive vision statement and which characteristics should be considered for further calibration. Second, we will discuss the development of a BI strategy as such. However, how does a process for developing a BI strategy look like in detail? How to balance all the related strategic requirements toward BI while at the same time providing a sustainable and robust foundation for BI strategy development and enhancements. These and some more questions will be answered in this chapter.