Strategy Management & Scorecarding
In the case of an organization with scorecards, the right Key Performance Indicators (KPIs), relative to their corresponding targets, are tracked and monitored to enable visibility in all directions. Besides, scorecard helps to coordinate and empower the various teams and departments that are present in an organization through effective communication of goals and actual performance.
One can depict typical Business intelligence architecture as a kind of pyramid: based on the pyramid are query and reporting tools that show what has been happening in the belly of the pyramid, OLAP tools are located and allow for more analytical functionality oriented towards why the top-level happened.
Scorecarding and Strategy Management complements other levels in the structure of business intelligence. One can quickly analyze the metrics in a scorecard app based on the specified stoplights and trends. Furthermore, specific KPIs can be investigated more closely through multidimensional analysis through OLAP tools. Ultimately, generic documents can be used to obtain the best descriptions of the metrics that help identify a particular KPI.
As such, the following components include scorecarding solutions:
- vision and mission modified into strategy maps & objectives
- cause & effect relationships
- choosing the right Key’ PI’s in the function of the organizational strategy which is translated into actual measures which need to be tracked
- appropriate targets & variances
- ownership & accountability
- metadata, calculation
- & definition
- actions & milestones for closing the gap between measured actuals & their pre-set targets
All this is best supported by an integrated (near-) atomic data storage layer that gathers the actual atomic measures of different data sources and also collects target values from the planning & budgeting applications, combined with the different actual KPIs. This allows for the creation of an authentic architecture of corporate performance management where past and future are connected.
Platingnum can help automate the process of scorecard system and strategic management that does not just focus on the scoring applications itself, but also on the extensions for the underlying layer and planning applications in the data warehouse.
In addition to the definition of the scorecard, the scorecard has to be automated. This includes, among others: an evaluation of the technological climate, the classification of the potential business users and their related positions, an examination of user requirements, the specification of data sources for all current & target initiatives (most likely involving applications for planning and budgeting). It also involves investigation of the fit for purpose capabilities of those data sources, source to the scorecard data feed, definition of the business user interface, the definition of different scorecards in the function of the different audiences, testing, roll-out, training & support.
Scorecard Tool Selection:
Platingnum offers a simple solution choice for scorecarding. This describes a unique approach to pick a suitable scorecard solution for your business. The selection process includes the following aspects: current infrastructure, organizational requirements, quality & maturity of the results of the various tools used in the selection process, as follows: strategy maps, causes & effects, lighting, visualization, manual data entry, metadata, ETL, integration with other BI components.
Platingnum has proven experience in Scorecard and Project Planning Automation. We not only focus on scorecards but also address problems concerning the consistency of KPI, the underlying architecture of the data store and the planning applications, the data quality, the possible distance between scorecards demonstrations, and the real thing. You can start with our advice on the implementation of a scorecard in your scorecarding project.
For further details or a unique inquiry, please contact us!