Big Data is finding a role in managing business performance, as operational analytics combine with new big data technologies to get better insights, fast enough to make better decisions. Automated control systems driven by digital data and dashboard decision-making based on consumer-generated data can be used to keep organisations ahead of the game. The importance of “fresh” data – data that is reflected in decisions within a second – is now leading to new ways of measuring and managing business performance.
How successful organisations are using new tools and technologies to manage and improve performance is presented in the world’s largest study into business performance, which was completed recently. This study is based on insights from over 3,000 companies from across the globe and provides an overview of the current state of play, such as what tools are being used. The author of the study, Bernard Marr of API, has used the findings of the study to create a business performance management maturity model; he has also distilled from it the “seven success factors” of managing business performance.
The study demonstrates the benefits of bringing together performance reporting and dashboards with the opportunities offered by applying business intelligence and the latest management big data analytics – the findings will be revealed at the forthcoming conference “Managing Business Performance: From KPI’s and Dashboards to Performance Analytics and Big Data”. For more information please see www.unicom.co.uk/performancemanagement