BUSINESS INTELLIGENCE

Business Intelligence

Business Intelligence

Introduction

Organizations which aim to manage and enhance its performance generally define a set of measures to monitor the progress which are known as key performance indicators or KPIs. Key performance indicators usually comprises of targets and measures which analyze different dimension of business like customers, geography, products, customers and organization. KPIs aide organizations in identification of the factors which have great impact on the performance of business, and help company to quickly shift their focus on more important activities. In this context, the following discussion will emphasize on how an organization can use business intelligence to develop key performance indicators for competitive corporate performance, and how should those key performance indicators be displayed? Moreover, the paper will critically evaluate a BI system to determine if it is effective? To answer these questions, the paper will basically maintain its focus on discussion the procedures for testing and the mechanisms for evaluation.

How to Use Business Intelligence to Develop Key Performance Indicators for Competitive Corporate Performance

BI or business intelligence also known as business performance management or corporate performance management defined the methodologies or processes or systems or metrics needed to measure and manages the performance of an organization (James, 2010). The terms methodologies, processes, systems or metrics can be best translated as an objectively measurable quantity for measuring results (Sauter, 2010).

With the application of BPM processes clearly and objectively companies can measure the results. This applies to processes and indirectly for the staff. Once results are transparent and measurable, they are subject to modification. The focus on processes such as planning contributes to achieving the set business objectives (James, 2010). BPM also supports the organization in order to make efficient use of its financial and material resources and their human resources. Moreover, business performance management provides answers to questions ...