Performance Management
Performance Management is a set of techniques and applications that review the success of business processes against a set of objectives. Business performance is managed through planning and budgeting to set expectations, and monitoring the actual business performance against the desired results. Managing business performance improves business acumen, ensures accountability, and raises investor confidence.
Performance Management represents a renewed focus on quantitative management — a “management by the numbers” — using insight gained from data analysis and performance reporting.
Performance Management Systems are found under a number of different terms and concepts, including: Corporate Performance Management (CPM), Business Performance Management (BPM), Enterprise Performance Management, and Operational Performance Management.
The Development of Performance Management
Driven by technology and business, Performance Management combines management methodologies that focus on analytical performance, with long-standing operational business needs for executive reporting and budgeting. Newer business needs for financial planning tools and enterprise-wide, Web-based analysis and reporting have further expanded the depth and breadth of performance management applications.
Reflecting this combination of analytical and operational needs, Performance Management technology is provided by three vendor types: Business Intelligence (BI), niche applications, and Enterprise Resource Planning (ERP). With the analytical and operational split for Performance Management technology at roughly 80/20, BI is the dominant enabling technology.
Analytical Performance Management Requirements
To achieve an effective Performance Management solution, a BI platform needs to deliver on all analytic requirements. These core analytical capabilities are delivered through the five styles of Business Intelligence:
- Scorecarding and dashboarding
- Enterprise reporting
- First-order analysis
- Advanced and predictive analysis
- Alerting
Why MicroStrategy for Performance Management?
Enterprises looking to manage business and corporate performance comprehensively require best-in-class software for both the operational and analytical requirements. MicroStrategy provides all core analytical capabilities on a single enterprise-class BI platform.
Interested in finding out more about MicroStrategy and Performance Management? Please continue reading how MicroStrategy’s platform should be part of any Corporate Performance Management solution.
MicroStrategy Customer Applications
A number of MicroStrategy customers have implemented Performance Management applications. Interested in finding out how MicroStrategy customers are using the best in BI as part of their Performance Management solution? The State of Tennessee won a DM Review World Class Solution Award for its MicroStrategy-based application that helps decision makers access critical financial data for performance management. Read the success story.