Business Analysis Guidebook/Business Intelligence and Performance Management
One cry that was prevalent during the 80s was the worry regarding ‘Information Overload!’. Widespread initiatives and work to develop Business Intelligence (BI) and Business Performance Management (BPM) solutions gathered momentum from the escalating technology advances in the last decades of the 20th century. The primary goal of BI/BPM initiatives in this new environment was to support a modern-day advance not unlike the advent of the Combine in the early-mid 1800s. In the same way that the Combine automated the harvest of wheat (mechanically separating the wheat from the chaff), BI and BPM tools “separate what is useful or valuable from what is worthless”. The capabilities that are available in the marketplace today enable an organization to use their data to generate value-adding information for operational and management decisions.
Information as an Asset
Every organization uses multiple Information System applications to meet business requirements. These applications capture exponentially-growing data stores. The data stores are intangible assets and should be managed appropriately. The ‘Information’ stored in the data provides guidance to those who use it throughout the organization. It represents organizational knowledge that is hidden in the data. BI and BPM metrics tools deliver that knowledge to the appropriate audience.
BI provides quantifiable information as a base for identifying the who, what, and when of historical activities for an organization. This is extended by Business Analytics which use that historical data to determine planning for future activities. With effective BI, the Right information is provided to the Right people within the organization, at the Right time, in the Right place, and in the Right format to facilitate the ability for operational and management organizational staff to make the Right business decisions.
Investments in business information should support all the people within an organization, from the operational efforts of ‘boots on the ground’ staff through the management of strategic initiatives established by executive leadership. The scope of output provided by BI tools leverage this information, providing required knowledge for a single unit within an organization, for operational coordination between business units, or for the enterprise as a whole.
Business Performance Measurement
Information Management and Architecture
- "Separate the Wheat from the Chaff". TheFreeDictionary.com. http://idioms.thefreedictionary.com/separate+the+wheat+from+the+chaff. Retrieved 10/23/2014.
- "business intelligence (BI)". TechTarget.com. November 2006. http://searchdatamanagement.techtarget.com/definition/business-intelligence. Retrieved 10/23/2014.