Are You Really Getting On Demand MIS?
Author: Hiten Rathod, Head – Strategic Alliances & Channel
Your business is up over 25% — great news! Or is it? If the economy is also growing at 25%, you’re just keeping pace. And if your nearest competitor is up 50%, you’re losing market share…
The primary activity of data analysis is comparison. Individual facts mean nothing in isolation. Facts become meaningful when we compare them to one another. To say that quarter-to-date revenue is $1,383,593 means little until you put it into context through one of more comparisons, such as by considering it in relation to the revenue target of 1.5 million dollars or to the amount of quarter-to-date revenue that was earned by this date last year.
Despite the millions invested in corporate information systems, what executives really care about isn’t the internal numbers, but how they compare to external benchmarks. They want to keep track of financial numbers (revenue, stock price, or return on capital), standard industry metrics (revenue per square foot of retail space), and, increasingly, non-financial metrics such as healthcare outcomes, customer satisfaction, and carbon footprints.
Comparing numbers has been difficult within the transaction application. But operational BI like 1KEY are transforming the possibilities.
MIS At Your Fingertips
1KEY Agile provides downloadable dashboards make it easy to compare live information with just a few clicks. It features data from various sources and lets organizations easily benchmark their performance.
Images: examples of Downloadable Information on Demand Dashboards
The bottom line is that data is a key, strategic part of your information infrastructure. You should be investigating the possibilities…we call it as Data 2 Decision.
Posted on January 29th, 2008 by Hiten Rathod
Filed under: Business Intelligence, CIO Community, Entrepreneurship
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