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Business Analytics |
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Business Analytics
Deployment of Balance Score Cards and KPI's have great value to :
- Convey Management Strategy and metrics they will use to measure performance
- Benchmark actual performance
- Seek out areas of success and incorporate the elements that led to the results in other initiatives
- Isolate under performance and take corrective
measure to re-align with strategy
Careful choice of these indicators lead to a motivated team that understands what is expected of them in terms of performance. This transparency if combined with simplicity can lead to a company-wide push to reach the targets set out by the team management. Too often the rank-and-file is unaware of what is expected of them and how their contribution is measured. Top management struggles to convey the "why" part of the strategy early enough and benchmark performance with competition.
A carefully deployed Balanced score card initiative can do provide a unequivocal and quantifiable manner in which strategy can be conveyed, understood and executed.
Since such KPI's and metrics can be deployed via role-base Portal iViews, the implementation can be quick and will reduce overall costs of such a solution.
Using the CPM ( Corporate Performance Monitor) Component of SEM- BPS Senior Managers and executives can get a highly visual picture of the performance of the company. This inutile, quantified mechanism increases the speed of decision making and results in superior execution.
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