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Class Agenda: 2/27/2014. Understand BI in relation to business performance management (BPM ). Understand the importance of interface design to BI Understand how interface design relates to business performance management (BPM). Understanding the use of BI for BPM.

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class agenda 2 27 2014
Class Agenda: 2/27/2014
  • Understand BI in relation to business performance management (BPM).
  • Understand the importance of interface design to BI
  • Understand how interface design relates to business performance management (BPM)
understanding the use of bi for bpm
Understanding the use of BI for BPM
  • Know how to pick your spot for data driven decision making (analytics).
  • Be able to create reasonable metrics.
  • Be able to design an effective business-oriented experiment.
  • Be able to design an effective user interface.
business performance management
Business Performance Management

The business processes, methodologies, metrics, and technologies used by enterprises to measure, monitor, and manage performance.

process of bpm
Process of BPM
  • Strategize
  • Plan
  • Monitor/Analyze
  • Act/Adjust
strategize where do we want to go
Strategize: Where do we want to go?

To become the Harvard of the west. (Stanford in the 1940’s)

To give unlimited opportunity to women. (Mary Kay Cosmetics)

To give ordinary folk the chance to buy the same things as rich people. (Wal-Mart)

To make people happy.

(Walt Disney)

Sony in the 1950’s: Become the company most known for changing the worldwide poor quality image of Japanese products. Make “Made in Japan” mean something fine, not something shoddy.

tasks in the strategic planning process
Tasks in the Strategic Planning Process
  • Conduct a current situation analysis
  • Determine the planning horizon
  • Conduct an environmental scan
  • Identify critical success factors
  • Complete a gap analysis
  • Create a strategic vision
  • Develop a business strategy
  • Identify strategic objectives and goals
components of a strategy
Components of a strategy
  • Strategic vision

A picture or mental image of what the organization should look like in the future

  • Strategic goal

A broad statement or general course of action prescribing targeted directions for an organization

  • Strategic objective

A quantifiable goal with a designated time period and a defined measurement method

  • Critical success factors (CSF)

Key factors that delineate the things that an organization must excel at to be successful

planning how do we get there
Planning: How do we get there?

Operational plan: plan that translates an organization’s strategic objectives and goals into a set of well-defined tactics and initiatives, resources requirements, and expected results for some future time period (usually a year).

strategy dictates planning
Strategy dictates planning
  • An organization’s strategic objectives and key metrics should serve as top-down drivers for the allocation of an organization’s tangible and intangible assets
  • Resource allocations should be carefully aligned with the organization’s strategic objectives and tactics in order to achieve strategic success
monitor how are we doing
Monitor: How are we doing?
  • Performance measurement system

A system that assists managers in tracking the implementation of strategy by comparing actual results against strategic goals and objectives

    • Comprises systematic comparative methods that indicate progress (or lack thereof) against goals
    • Requires the development of metrics.
    • All measurement is about comparison.
you can t monitor what you don t measure
You can’t monitor what you don’t measure
  • Key performance indicator (KPI)

A KPI represents a strategic objective and metric that measures performance against a goal

  • Distinguishing features of KPIs:
    • Consistent
    • Time-related
    • Benchmarked
what are the most common kpi s for profit making organizations
What are the most common KPI’s for profit-making organizations?

How about non-profit organizations?

act and adjust what should we do next
Act and Adjust: What should we do next?
  • Success (or sometimes mere survival) depends on new projects: creating new products, entering new markets, acquiring new customers (or businesses), or improving some process.
  • But, mostnew projects and ventures fail!
    • Hollywood movies: 60% chance of failure
    • Mergers and acquisitions: 60%
    • IT projects (large-scale): 70%
    • New food products: 80%
    • New pharmaceutical products: 90% …
act and adjust do it fast
Act and Adjust: do it fast!
  • The goal is to fail fast.
  • Or to know when something is failing so that it can be adjusted before fully failing.
  • Or to fail on a smaller scale so that the effects of failure won’t be profound.
  • Or to be aware of why something failed so that failure produces learning.
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