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Actuate Corporation (NASDAQ: BIRT), The BIRT Company
™– delivering more insights to more people than all BI companies combined – today announced
the results of a worldwide study conducted in conjunction with the Advanced Performance Institute (API) to commemorate the 20
th anniversary of the
Measuring and Managing Performance – A Global Study garnered responses from over 3,000 companies across the globe, making it one of the largest and most comprehensive surveys ever conducted in the field of performance management. API Founder and CEO Bernard Marr analyzed the results in his newly released white paper
20 Years of Measuring and Managing Business Performance: From KPIs and Dashboards to Performance Analytics and Big Data.
“While the results of the survey reveal that most companies measure, monitor and analyze their performance, not all companies generate the level of benefits expected from their efforts,” Marr said. “By analyzing the survey results we were able to determine the primary factors that contribute to the level of satisfaction organizations feel with their Business Performance Management (BPM) efforts. Three primary factors were found to influence the maturity of a company’s initiative, which can range from those that have little or no data to work with, to companies that are able to use comprehensive performance data to make true operational and strategic decisions.”
Three Driving Influences
While the survey revealed seven factors that contribute to BPM maturity, three main driving influences permeated the results and affected to varying degrees the initiatives of all respondents. The companies that were able to succeed in these three areas were more likely to report a successful BPM initiative:
Proper impetus or leadership to guide the initiative. For performance management efforts to be truly valuable, buy-in must seep through all levels of an organization and improve strategic decision making throughout. Despite that, many companies maintain a Big Brother approach to performance management: one-third of respondents were motivated to report only by internal pressures to comply.
The right business tool. While a high correlation exists between a company’s success and the tool or tools chosen, how they use those tools is also critical. Key Performance Indicators (KPIs) were revealed as the most common tool, used by over two-thirds of respondents, yet companies must also choose their KPIs carefully: The most successful initiatives were those that aligned and integrated strategic and operational metrics, and those that combined traditional KPIs with performance analytics.
Appropriate technology for automation. A majority of survey respondents – 61 percent – still use office tools such as Microsoft Excel and PowerPoint to guide their performance management efforts. This, despite the fact that office tools deliver fewer business benefits than end-to-end solutions, which create tactical, operational and strategic dashboards and scorecards in a single collaborative environment.
“We saw in the
Measuring and Managing Performance survey, that technology plays an integral role in the success or failure of a performance management initiative,” said Utpal Bhatt, Vice President and General Manager of the Performance Analytics Group at Actuate
. “Performance management technology has evolved greatly over the years, yet many organizations haven’t taken advantage of it. Today, the right technology will help foster true performance results by accessing and interpreting data from disparate sources, identifying underperforming areas, initiating and communicating improvement plans, and easily sharing best practices.”
For the full study, plus additional insight into tools, case studies and a solution overview to help drive your organization to a successful BPM initiative, go to:
Tomorrow’s Webinar Details
To hear Bernard Marr speak about the findings live on March 12 at 9 a.m. PDT, register at
www.birtperformanceanalytics.com/se/info/wsemq113pag20anniversarybscbanner/.About the Advanced Performance Institute
The Advanced Performance Institute (API) is a world-leading independent research and consulting organization specializing in organizational performance. The institute provides expert knowledge, research, consulting and training on concepts like strategy management, performance management, analytics, Business Intelligence, Key Performance Indicators and big data. The aim of the Advanced Performance Institute is to provide today’s performance focused companies, governments and not-for-profit organizations with insights, advice and services that help them deliver lasting change and superior performance. The institute has a long and successful history. It was established in the mid-1990s and has continuously grown to its current world-leading position with clients from across the globe. It is headquartered in the United Kingdom.