What is Performance Management?
Performance
Management (PM) is the practice of managing the effectiveness
and value of business by aligning people, processes, and systems
to a common set of goals and objectives.
Performance management solutions should be
able to:
- Sample, derive, segment, correlate, summarize, transform,
and aggregate data
- Measure and monitor activity and alert upon exception
- Deliver actionable business intelligence through
dashboards, scorecards, reports and views
- Store, maintain, and display accurate history
- And last but not least, change quickly and easily
to reflect the dynamics of your business
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Performance management solutions should not be:
- “Another major development project”
- A collection of complex or elaborate spreadsheets
- Reports or reporting packages
- The corporate data warehouse
- A complex OLAP-based solution
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Why Is It So Challenging?
Current technology and vendor approaches
limit business potential. All too often, performance management
software implementations are protracted, complicated, and
ultimately expensive.
Consider the typical scenario:
- Discovery, document requirements, define, design
- Select/procure toolkit or platform
- Build database, build application, test, refine,
optimize, deploy, maintain and begin lifecycle anew
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Each additional step adds another layer of complexity or builds
in a future bottleneck.
‘Getting data together’ usually
burdens IT
Chalk it up to any number of challenges -- data silos, separate
line-of-business reporting requirements, static reports unable
to deliver the real story in real time, custom reports requiring
custom APIs, or the fallout from implementing an inflexible
approach.
All
too often, “getting data together” in a meaningful
fashion required stretching the capacity of an already overburdened
IT department. And by the time your request gets on IT’s
radar screen and through the project cycle, the information
you get is often too little, too late.
Getting everyone on
the same page at the same time was a costly and inefficient
proposition, until now with HardMetrics
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