Dyche masterminded Burnley's return to the top flight last season as they finished second behind Leicester City in the Championship.
The former Watford boss is still waiting for his first victory as a Premier League manager, as the Lancashire club sit second-bottom of the table with just four points from their first seven games.
Dyche has turned to legendary former Manchester United boss Ferguson, amongst others, for advice and has expressed his gratitude for the Scotsman allowing him to tap into his vast experience in the game.
"There are a number of people I speak to and he is one of them. He is obviously a very important figure and always gives you really good, honest, helpful advice – no holds barred reality as he sees it, and he has been very good to me like that," said Dyche.
"The last time I spoke to him, I said: "Can you win me a game now!".
"More or less whenever I've needed it he has answered the call. He has always got time for you.
"He was like that when he was active as well, not just because he has retired. When he was manager he always took a phone call and always gave you sound advice.
"He has experienced virtually everything in the football world and I ask him advice and pick his brains. It's great that he thinks that I talk a bit of sense and try and get the best out of what we have.
"He had to do that himself many moons ago. It wasn't an easy pathway and I don't think there is one in football management to be honest.
"There are certain people in the game you gravitate towards for an opinion. I am aware that you need that and he is one of them and he has been very helpful for me and honest with any view I have asked him about.
"Sometimes I touch on many different challenges. As you can imagine he doesn't beat about the bush.
"I also speak to [Alex's son] Darren [Peterborough United manager Ferguson]. Me and Darren get on well and have done for a number of years. He almost signed for Nottingham Forest as a kid when I was there so we have known each other for a long time."
Burnley face West Ham at Turf Moor in the Premier League on Saturday.
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