Accurate and meaningful data insights are required by executives and employees in order to effectively implement and update their business strategy. However, research suggests that most analytics features do not serve this function. In the 2019 KPMG Global CEO Outlook, 71% of CEOs surveyed reported their disregarding insights provided by analytics solutions, preferring to base decisions on their own intuition. Even so, the report concludes that CEOs will need to “anticipate their requirements through insights gleaned from data-driven analysis.”
Corporater BMP (Business Management Platform) considers four key areas in order to enhance analytics features and optimise strategy implementation. Read below to find out more.
1. Context
Corporater BMP considers the big picture view of business scenarios, complete with the full context. This includes information relating to what the decision is, why it is being made, how it will aid the business strategy.
2. Insights
CEOs and executive boards must have all insights relevant to a business strategy, going beyond the representation of data, to facilitate consensus building on what the data insights and trends are. This will include not only executive figures, but more and more through insights achieved through the work of data scientists that consider internal and external information sources in order to determine the opportunities and risks presented. These discussions will benefit from Corporater BMP and its ability to place dashboards within a desired business context.
Image 1: Clear Data Presentations for Decision Making
3. Planning and Execution
Once key insights are identified, these must be acted upon with a project plan that follows standard governance processes. This plan must include initiatives, milestones, assignment of responsibilities, risks, and the tracking of progress. Plans are then executed with attention to the relevant views in the dashboard, covering high-level strategic objectives, strategic initiatives with their potential roadblocks, and simplified data views that provide actionable information. Corporater BMP provides functions for strategic objectives, initiatives, milestones, Gantt Charts, and more, in order to ensure that the business strategy can be monitored and successfully implemented.
Image 2: Specified Employee Dashboard
4. Impact
In view of the context, insights, planning, and execution of initiatives, data presentations in Corporater BMP create business impact, in contrast to most solutions that fail to deliver actionable insight.
To find out more, consider clicking the links below in order to learn more about how Corporater BMP is the best solution for your business strategy.
REFERENCES
https://assets.kpmg/content/dam/kpmg/xx/pdf/2019/05/kpmg-global-ceo-outlook-2019.pdf
https://corporater.com/en/business-solutions/strategy-management/strategic-planning-and-initiatives/
Image 1 - Clariba Sales Demo
Image 2 - https://corporater.com/en/the-missing-core-piece-of-todays-bi-systems-ceos-data/