Businesses achieve a sustainable advantage over their competition by adapting to Information management systems for an intelligent view of the data. These systems and methods have evolved to what is now known by the broader term “Business Intelligence” or “BI”.
Business Intelligence (BI), also referred to as “decision support,” allows organizations to better understand, analyze, and even predict what’s going to be the future of business units. Business Intelligence (BI) helps the organization turn data into useful and meaningful information and then distribute this information to those that need it, when they need it—so they can make timely and better-informed decisions. It allows organizations to combine data from a wide variety of sources and create an integrated, up-to-date, and 360-degree view. Business Intelligence (BI) enhances communication between departments, coordinates activities, and enables companies to respond more quickly to changes (e.g., in financial conditions, customer preferences, supply chain operations, etc.). In addition, Enterprise Performance Management (EPM) helps companies develop consistent and “data-based” business decisions-producing better results than basic decisions on “guesswork.” When an Enterprise Performance Management (EPM) system is well-designed and properly integrated into processes as well as decision-making, it results in improvement of the enterprise’s performance.
Evidences of the competitive value of BI and EPM are growing. Fact-based decision making is spreading throughout the enterprise. Good decision making and performance management are keys to business value generation. In the current market conditions there is added pressure on business units to show clearly how and where they are creating or adding value to the enterprises. Furthermore, the corporate focus on IT costs is often driven by the enterprise-wide mandate to ‘do more with less’ and growing demands for compliances. BI and EPM solutions help enterprises with all these aspects of business. They enable answer three key business questions: “How are we doing?”, “Why are we doing this?”, and “What should we be doing next?”. BI and EPM provide operational managers and employees with actionable business intelligence, i.e. information that is both relevant and timely. BI and EPM help enterprises to rack up impressive ROI figures, identify cost-cutting ideas, uncover business opportunities and roll ERP data into accessible reports.
Using Enterprise Performance Management (EPM) tool throughout the enterprise, allows success and improves the quality of business decisions. It enables businesses to quantify corporate performance measures and identify & overcome issues linked to monitoring & control. This tool also provides alert mechanisms to achieve effective performance management. Enterprise Performance Management (EPM) solutions can identify the cross effect of performance of one level, activity, or process, to another level or process within the organization. Direct correlation allows for accurate analysis and problem solving. By using this solution, enterprises can establish corporate strategy and effectively communicate and monitor related activities to ensure that the entire organization is focused on the Performance Matrix.
With BI and EPM, enterprises obtain more specific view of corporate data and perform data mining, which helps to uncover relationships and patterns present in data gathered so far. Secondly, BI and EPM efficiently support management processes, also making information collection and dissemination faster and more efficient, which increases flexibility and accelerates enterprise’s adjustment to market demands.
e-Zest’s dedicated unit (SBU) of BI & EPM consultants, Stractive Consulting www.stractive.com is focused to offer Business Intelligence Services and Enterprise Performance Management (EPM) solutions. It helps our clients to achieve the optimum value from their investment in legacy systems from a management view and then drill all the way down to the granular view. With proven methodologies, in-depth expertise, and industry specialization, Stractive Consulting delivers actionable and measurable business results that simplify decision-making, optimize IT efficiency, and improve business performance.