The enhanced predictive analytics tools of the Integrated Enterprise Excellence (IEE) business management system offers futuristic statements for Key Performance Indicators (KPIs) and other organizational measurements. IEE offers a framework where these performance metrics can be clickable and automatically updated throughout an organization.
Enhanced Predictive Analytics Tools for Scorecards and Business Improvement
Business organizations need a business management system that has predictive scorecards, which encourage behaviors that benefit the enterprise as a whole. Common place red-yellow-green goal-based scorecards can lead to silo improvement efforts that result in much firefighting.
The IEE system in a predictive analytics tools set addresses the business scorecard issues described in a one-minute video:
Traditional metric reporting that consists of a table of numbers, pie charts, or stacked bar charts are not predictive and provide only a snapshot of the past with no assessment of what is expected in the future. Also, variance to metric goals can lead to playing games with the numbers, which can be destructive to the business as a whole.
The balanced scorecard approach for choosing metrics after strategy selection can lead to subjective metrics and measurements that are not long-lasting and are a function of economic and leadership changes. Described in the published PDF linked-to article below is an overall corporate performance management (CPM) system where organizations can analyze their predictive value-chain metrics collectively with other considerations, such as the current business-economic environment and the Theory of Constraints (TOC), to develop strategies.
Contact Us to set up a time to discuss with Forrest Breyfogle how your organization might gain much from an IEE predictive analytics tools approach for scorecards and business improvement efforts.