Key Performance Indicators and BI Tools to Support Your Business with Dynamic, Interactive Features!
There is no room in today’s business world for speculation or guesswork! Whether you are presenting to your Board of Directors, making a recommendation to your management team, or pitching a new product or idea, objective, provable results and information are required. In order to succeed in business, team members must have access to tools that allow them to establish and monitor key performance indicators (KPIs) with measurable results so that the business can adapt to change, alter and adjust activities and tasks that do not provide successful outcomes, and build on success using models that have historically proven to achieve results.
‘Take the time to select a business intelligence solution that will advance your business interests and provide clear insight and help you to measure results.’
According to recent research, businesses use one of the following methods to capture and measure key performance indicators (KPIs): Spreadsheets, Dashboards and Reporting Tools, BI and Analytical Software.
In fact, the option that is likely to provide the most success is one that will eliminate human error in data entry and calculation of formulae and metrics. That would seem to suggest that a BI and Analytical software tool is the best way to establish and manage KPIs. But the sheer volume and complexity of enterprise data, distributed across the organization can be overwhelming.
Here are some important considerations for your business that will help you to choose the right BI tools and KPI features:
- By gathering and integrating data from disparate systems and selecting a business intelligence solution that incorporates augmented analytics suitable for business users, the business can create a foundation upon which to build its success.
- When selecting a BI tool, be sure to look at the capabilities provided for managing key performance indicators. With the right approach, the enterprise can achieve measurable and clear insight into key business objectives, so you can set goals, develop strategies to achieve these goals and objectively evaluate your performance and progress.
- Look for business intelligence software that allows business users with average technology skills to define KPIs using an easy-to-use, powerful expression engine and to set polarity, frequency and threshold levels using a browser-based interface.
- Avoid static reporting that will frustrate business users and instead give them interactive tools that are dynamic and will allow them to explore, slice and dice and get to the heart of the matter. KPIs should not be limited to static monitoring.
- Choose KPI Analytics that provide interactive options to change frequencies, dimension break downs and drill down to further analyze trends, and reasons for performance and non-performance.
- Remember that KPI tools are designed to be used. If you want your users to adopt these tools and use them on a daily basis, you will need an easy way to measure results and to make adjustments to workflow, processes and activities and adjust KPIs as appropriate. This method of continuous monitoring and management ensures that users can resolve issues and capitalize on opportunities as they arise.
‘A BI and Analytical software tool is the best way to establish and manage KPIs.’
Your business management team understands the need for clear, objective metrics. Be sure you take the time to select a business intelligence solution that will advance your business interests and provide clear insight and help you to measure results, adapt to the changing market and create an environment of continuous improvement.
BI tools with Multidimensional Key Performance Indicator (KPIs) features should provide data analytics access for all business users. Simple, self-serve BI tools can provide your business with the foundation to achieve your goals. Let us help you achieve your vision and improve productivity and insight across the organization.
Original Post : BI Tools Should Have Multidimensional KPIs & Slice and Dice!
