Drivers of Business Intelligence [BI]
Business Intelligence is a hot topic in most organisations today.
Currently, most organizations do not have the information they need
to manage and drive the performance of its key objectives.
More time is spent by analysts in finding, extracting, cleaning
and integrating data, instead of analyzing and reporting it.
Enterprises do not have a consistent platform across all services
and locations upon which to measure and manage key metrics.
There are various factors are driving enterprises to take an holistic
view of Performance Management.
- Rapid Change - many enterprises are recognising
that the fast pace of change in business markets requires a new
view of how the business is managed, and a new approach to preparing
for the future.
- Governance - Following a spate of corporate
scandals and alleged frauds, governments are demanding higher
standards of corporate governance.
- Stakeholder Demands - stakeholders demand that
management deliver predictable execution, operational efficiency
and corporrate accountability, which collectively make Performance
Management more of an imperative.
- Expanding on ERP - ERP's manage transactions
but do not provide sufficent feedback on operational and corporate
- Data Availability - Significant increases in
enterprise data have made Performance Management more
Business intelligence is essential to corporate performance management.
Corporate Performance Management
An effective Performance Management program is a consistent and
adaptive process which encompasses three fundamental principles:
- Driving a forward-looking view of the business
- Ensuring alignment to corporate strategy
- Enabling more effective decision making at all levels of the
The benefits of a Performance Management initiative will include
more solid foundations for making decisions, the discovery of previously
hidden inefficiencies and a more rational use of resources in planning
and control activities.
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