CEOs and other senior executives must identify ways to improve their enterprise performance by boosting profitability, raising market share, and leapfrogging competitors. But achieving these objectives is not as simple as just looking at the numbers. What about nonfinancial measures (e.g., customer loyalty and employee satisfaction) that don’t show up in financial accounting? How do you quickly and efficiently get the full 360-degree view of your business?
In order to execute their business strategy, business and IT execs need a business-focused, strategic, and pragmatic way to measure their finances and operations — popularly referred to as business intelligence (BI). Without such measurements — supported by enterprisewide BI deployments — businesses can’t link operational results to strategy. Organizations will also find it difficult to get a coherent view of their internal and external processes, customers, logistics, operations, and finances.
However, most firms struggle with BI strategies and programs because turning data into information is an open-ended concept. They frequently go in the wrong direction because of traditional (and often outdated) views and approaches and a focus on technology instead of business, which results in BI programs that are tactical and only project-based. What these firms need is an approach to BI that, while staying true to the importance of long-term vision and looking across silos, provides the flexibility to accommodate varying levels of resource commitment and the political, historical, and cultural obstacles that BI programs often face. Think of Forrester’s new business intelligence playbook as your BI bible; it should guide your BI decisions every step of the way.
BI professionals spend a significant portion of their time trying to instill the discipline of datadriven performance management into their business partners. However, isn’t there something wrong with teaching someone else to fly when you’re still learning to walk? Few BI pros have a way to measure their BI performance quantitatively (46% do not measure BI performance efficiencies and 55% do not measure effectiveness). Everyone collects statistics on the database and BI application server performance, and many conduct periodic surveys to gauge business users’ level of satisfaction. But how do you really know if you have a high-performing, widely used, popular BI environment? For example, you should know BI performance
Efficiency metrics such as number of times a report is used or a number of duplicate/similar reports, etc
Effectiveness metrics such as average number of clicks to find a report and clicks within a report to find an answer to a question and many others
Metric attributes/dimensions such as users, roles, departments, LOBs, regions and others