Descriptive Analytics II: Business Intelligence and Data Warehousing - Business Performance Management
3 important questions on Descriptive Analytics II: Business Intelligence and Data Warehousing - Business Performance Management
What is business performance management system? How does it relate to BI?
It refers to the business processes, methodologies, metrics, and technologies used by enterprises to measure, monitor, and manage business performance.
To monitor and analyze "how we are doing" in realation to the strategic objectives and goals, BI can play an important role.
To monitor and analyze "how we are doing" in realation to the strategic objectives and goals, BI can play an important role.
What are the 3 key components of a BPM system?
1. A set of integrated, closed-loop management and analytical processes that addresses financial as wel as operational activities.
2. Tools for business to define strategic goals and then measure and manage performance against those goals.
3. A core set of processen, including financial and operational planning, consolidation and reporting, modeling, analysis, and monitoring of key performance indicators (KPIs), linked to organizational strategy.
2. Tools for business to define strategic goals and then measure and manage performance against those goals.
3. A core set of processen, including financial and operational planning, consolidation and reporting, modeling, analysis, and monitoring of key performance indicators (KPIs), linked to organizational strategy.
Why is strategy the most important part of a BPM implementation?
Business strategy provides an overall direction to the enterprise and is the 1st and foremost important process in the BPM methodology.
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