The concept of Unified Performance Management was born out of the need to actively work towards improving organizational performance.
Business Intelligence plays a critical role in performance management by:
Presenting data promptly and in a simple format.
Enabling the ability to read and understand the intent behind organizational performance data through various discoveries derived from analyses and real-time queries.
Instead of just talking about creating reports, handling queries, and implementing analytical analyses, we want to enable organizations to measure and track the cross-sectional performance of the business. We want to see Business Intelligence products and solutions expanded and unified in budgeting, planning, and control. This is to provide a holistic view of company performance across operational activities in different departments and create a link between strategic planning and related measurement theory performance.
Performance management integrates into the business cycle, thus comprehensively influencing the direction the business is taking.
The term Unified Performance Management can appear in the following forms:
Enterprise Performance Management
Business Performance Management
Business Performance Software
Unified Performance Management solutions differ fundamentally in their form, size, and how they are used.
The structure of the solution depends on several factors, such as business scale, data volume, sophistication of IT infrastructure, and level of commitment to performance management. One key success factor is the ability of Performance Management solutions to overcome technical challenges in integrating and utilizing organizational IT assets.
There are several levels at which this integration is required:
Reuse of organizational software assets (business intelligence, budget management, planning and control tools, etc.).
The field of performance management integrates with additional software from various software providers in the organization. Integration between software requires more than support for identical standards. Solutions must also work side by side.
The goal is to create a flexible performance management architecture that allows the organization to adapt easily to requirements, needs, and software.
Refreshing organizational data
Organizations need to refresh their data. Performance management solutions that rely on low-quality information are worse than not performing performance management at all.
Accuracy and uncompromising data quality are at the heart of performance management. It has been proven that this area is the most complex and complicated for performing critical performance management tasks. While other aspects seem non-binding, this aspect is almost impossible without business intelligence professionals.
Forecasting is another area of performance management.
This aspect, in its typical form, is not a uniform solution, and it suits the different ways that people relate to organizational approaches.
Based on the article:
Corporate Performance Management
Butler Group, April 2009
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