Monday 20 January 2014
Companies can increase their profitability by 20 per cent by 2017 if they use predictive business performance metrics, it has been claimed.
IT analyst Gartner thinks predictive metrics can alert workers that a business moment is about to occur, and help them take the best course of action.
The firm said that - in an increasingly connected world - companies need to digitalise business processes, invent new digital business models, and "compete at the speed of business moments".
"Using historical measures to gauge business and process performance is a thing of the past," said Samantha Searle, research analyst at Gartner.
"To prevail in challenging market conditions, businesses need predictive metrics - also known as "leading indicators" - rather than just historical metrics"
Research conducted by Gartner in the fourth quarter of 2013 found that 71 per cent of business and IT leaders understood which key performance indicators (KPIs) are critical to supporting the business strategy.
But, only 48 per cent said they could access metrics that help them understand how their work contributes to strategic KPIs.
Some 31 per cent of respondents agreed they had a dashboard to provide visibility of these metrics.
Microsoft business intelligence solutions can help your organisation make better decisions.
Posted by Dan Smith