I’d like to inform you that business performance management or BPM is responsible for establishing a solid framework to improve business performance. To be exact it measures key business characteristics that can be successfully used to feedback into the decision process. It’s also used in guiding operations in an attempt to boost up strategic organisational performance. Of course I should mention other popular terms such as EPM, CPM, EIS, MIS and DSS.
BPM is able to set objectives and monitor performance. It also feeds back to new objectives if required. In general business intelligence can be defined as a special set of tools which allowing users to access to actual information. Business intelligence greatly contributes into decision making.
I should also say a couple of words about key performance indicators. By the way you can call them KPIs. So they are corporate measures used to monitor and predict the performance of any organization. They form the foundation of any the BPM solution. Ideally they should have assessed actual operational performance within any BI application.
KPIs are able to provide business owners with a quick indication on the real health of the organization. They also provide a solid guide management to the corresponding operational areas affecting performance.
I should say that in a great number of companies analysis of data is often complicated by the fact that their data is very fragmented. It goes without saying that it causes serious problems of duplication. It also generates inconsistent definitions. We should blame it for inconsistency and inaccuracy too. This makes us waste our effort.
Perhaps you’ve already heard about data warehousing or DWH. It’s also an essential element of business intelligence. So it’s just a centralized pool of data specially structured to facilitate access and certainly analysis. I’d like to add that this DWH is often used hand in hand with ETL and other data integration tools. As foe ETL I can add that it’s responsible for extracting data from a corresponding source system and further transforming it and loading into a structured database.
BI layers can be successfully used for the purpose of analyzing the consolidated data and creating dashboards as well as user defined reports. These layers can be also used for integrating budgets and forecasting.
It’s quite natural that reporting solutions are getting more and more complex. And as follows from this the definitions of reporting systems and what they are actually doing becomes more essential. By the way it’s known as metadata. It defines the actual data and certainly its manipulation. Every part of the system has got its metadata clearly defining what it’s doing. Good management of metadata significantly reduces development time. Moreover it makes ongoing maintenance much simpler. It also provides users with relevant information about the data source. I hope you’ve just learnt enough about business intelligence from this review.
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