I like the info published in http://www.techrepublic.com. It has provided me a latest IT info and easy to understand for those who are not in IT background. Today, I would like to share with you on Corporate Performance Management and Business Intelligent (BI).
Actually this is one of the topic area that i believe will be come out in MIS750 final exam. So lets us discuss further about it. Back to presentation on last 3 weeks on this topic compared to my current reading, it is not about how to search the muffin recipes in the internet.... BI is actually a huge topic and it involve in integration of large volumes of data in the business applications (corporate databases also called data source) that are used within the company; the data are stored in data warehouse or data mart by using ETL platform. BI systems will sorting through this data, extract useful information and turn it into actionable knowledge. However, it is not easy to deploy BI system in view of it will cost the company a millions Ringgit.
This figure will help you to understand ETL Platform
One definition states, “Business Intelligence refers to technologies, applications, and practices for the collection, integration, analysis, and presentation of business information and also sometimes to the information itself. The purpose of business intelligence is to support better business decision-making.” Basically, BI is reporting on data you gathered and generating a report from this data.
For a clear picture:-
Business Performance Management (BPM) or Corporate Performance Management (CPM) are applications based on BI that give businesses a better picture of how the business is performing, such as historical sales forecast vs. actual. It will monitoring key performance indicators (KPIs) in real-time which is known as business activity monitoring.
What is Corporate Performance Management or Business Performance Management [BPM]?
As usual if we refer to Wikipedia, BPM is a set of management and processes that enable the management of an organization's performance to achieve their goal.This core business performance management processes include financial planning, operational planning, business modeling, consolidation and reporting, analysis and monitoring of key performance indicators linked to strategy. There are various methodologies for implementing business performance management such as Six Sigma strategy, balanced scorecard, activity based costing (ABC), Totak Quality Management, economic value-add, integrated strategic measurement and etc. In addition, EPM, or Enterprise Performance Management, is the next generation of BI that allows companies to take the decisions they made through the BI system.
Who are BI vendors? You may have a lot of information on what have provided by them and have a clear picture on BI system by clicking on the logos...
Finally, always remember that you should be able to give out the example...so what is your take on this?
Take a break...i like this video!!
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