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Business performance management (BPM) seeks to match strategic or business goals with the current progress of an organization. This includes all functions in a company that deal with financial, management, operations,manufacturing, and logistics to mention a few.
This is especially important for large businesses which run diverse lines of activities, and need to understand performance on employee, department, division, business unit, and overall organizational levels which can also encompass multiple companies.
Due to these factors we at ITQlick understand how important it is to ensure the correct selection of a BPM solution for a large business to support its growth strategy. Therefore we have reviewed a number of solutions considering some important factors which are relevant to large business requirements.
These include scalability to handle various business sizes, flexibility to adapt to changing business requirements. We also evaluated how straightforward & easy to use the software is and if it is powerful enough to provide most if not all performance related metrics.
Additionally our review has considered the technological requirements of the software, its integration options with the current software infrastructure, and how well the solution supports the business decision making process. As a result we can recommend the following solutions.
SiSense is a scalable solution which offers a free product trial to determine business fit, and allows access to multiple data sources to analyze and produce insightful performance data & metrics. Another point to note is that Sisense can easily process large volumes of data without the need of a data warehouse utilizing its own proprietary data management technology.
This allows queries on big data to be processed quickly and reveal results almost instantaneously. For large businesses looking for a comprehensive performance solution that can give real-time information, and is available as both a cloud based and on premise solution, then SiSence is a worthwhile option to consider.
Board supports visual dashboards for performance metrics review and analysis against organizational KPIs. For large businesses looking to develop their own customized performance applications there is a development toolkit available.
Additionally the product supports integration to a variety of data sources to generate its performance metrics. Another point to note is that large businesses can see the effectiveness of strategic objectives with current performance through the scorecard feature. This allows the display of a strategy map which users can use to determine where performance issues may be arising.
This is a cloud based solution which is accessible via mobile devices, and offers companies a free product trial as well. TARGIT allows users to conduct self discovery performance analysis without complex data queries. Also it includes proactive predictive analysis alerts that flag possible performance issues.
In addition companies can leverage on performance storyboards that are displayed via dynamic dashboards throughout the organization. This has the advantage in large organizations to drive performance as a corporate objective by allowing employees to review achievement or lack of it, in real time. Additionally the product can be embedded in third party applications to conduct performance analysis on specific functions such as finance & logistics.
4. SAP BI
SAP is a leading enterprise solution provider and its BI product is focused on providing collective insight for performance evaluation utilizing its Jam social collaboration platform. Its Lumira tool provides a comprehensive data visualization tool to display real-time performance analytics through access of multiple data sources efficiently and rapidly.
The product supports customizable dashboards and performance monitoring workflows which can be accessed via mobile devices. Additionally the product can be integrated with a variety of third party applications including competitors such as Oracle & Microsoft, so large businesses can leverage their existing software infrastructure.
This BI solution can be deployed as both an on premise and as a cloud based solution. GoodData can access information from a variety of data sources using readymade connectors. An analytics engine is used to parse this data to generate valuable performance related metrics.
Additionally there is a visualization tool that allows the utilization of readymade dashboards. Alternatively a toolkit is available to configure dynamic dashboards that map performance information against both quantified business goals as well as strategic KPIs.
The key advantage for large businesses is that GoodData can be embedded either in a company’s existing applications, or it can be branded as a portal for customers to review business performance benchmarks. This is important when it comes to customer service organizations.