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Performance Management: Finding the Missing Pieces (to Close the Intelligence Gap) [Gary Cokins] on giuliettasprint.konfer.eu *FREE* shipping on qualifying offers. Performance Management: Finding the Missing Pieces (to Close the Intelligence Gap): 1st (First) Edition [Cokins Gary Cokins] on giuliettasprint.konfer.eu *FREE* shipping.
Are you sure you want to Yes No. Be the first to like this. By understanding the type of decision needed, the type of analysis and its required source data can be defined. A common observation is that there is no intelligence in business intelligence. But when business analytics are applied to intelligence within an organization, deep insight and foresight are produced. Business analytics are needed to understand the solutions to problems or pursuit of opportunities.
The components are:. Although better cost management and process improvements are noble goals, an organization cannot reduce its costs forever to achieve long-term prosperity. EPM and CPM are not about monitoring the dials in a strategic Balanced Scorecard or operational dashboards; they are about moving the dials with projects or process improvements identified from better analysis to make better decisions. He began his career in industry with a Fortune company in CFO and operations roles. From until Gary was a Principal Consultant with SAS, a leading provider of enterprise performance management and business analytics and intelligence software.
Cokins can be contacted at gcokins garycokins. Intelligence vs. The components are: Strategic planning and execution: This is where a strategy map and its associated Balanced Scorecard fit in. Correlation analysis can validate the quality of KPIs selected.
Cost visibility and driver behavior: For commercial companies, this is where profitability analysis fits in for products, standard services, channels, and customers. For public-sector government organizations, this is where understanding the costs of their outputs that consume processes and resources fits in.
Activity-based costing principles are foundational by modeling cause-and-effect relationships based on business and cost drivers. This involves progressive, not traditional, managerial accounting. Customer intelligence: This is where powerful marketing and sales methods are applied to retain, grow, win back, and acquire profitable customers.
The tools are often referenced as customer relationship management CRM software applications. But the CRM data are merely a foundation.
Business analytics, supported by software, leverage CRM data to define actions to create more profit lift from customers. They impact the behavior of customers from being satisfied to being loyal.
The benefit of more accurate forecasts is reduced uncertainty. Forecasts of future volume and mix are core independent variables from which many dependent variables, such as future workforce headcount and spending levels, have relationships and can therefore be calculated and managed. CFOs increasingly look to driver-based budgeting and rolling financial forecasts grounded in activity-based costing principles using this component.
By adding business analytics to forecasts, possibilities become probabilities including for what-if scenario analysis.