- 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.
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 Balanced Scorecard. 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:
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