In an increasingly digital world, there are crucial questions that every organization should be asking: Are you able to fully exploit the potential of your organization's fast-growing data assets? And: Are you able to leverage technology to truly support your business demands for fact-based decision-making based on insight and data analysis?
Knowledge is key
Being performant nowadays has become more and more dependent on leveraging technology as a core driver for business success, supporting business processes and turning data into knowledge and action. Technology however, is only part of the equation. Truly understanding the business and the key processes that drive the company is equally important to driving the expected success.
Knowledge is set to become the future's most valuable company asset, but we all know that you cannot improve what you cannot measure. It is indicative that large organizations, unable to effectively capitalize on their large data repositories, are losing market position to smaller competitors that manage to do the opposite.
What's the challenge?
The volume of data available, as well as the demand for successful, intelligent and targeted insight and analyses of this data, is growing every day. The challenge is to turn inaccessible, incomplete data (often located in incompatible systems) into information and market intelligence, and to use it as working knowledge in an efficient format.
Regardless of their size, many businesses have difficulties taking advantage of the data they generate. They struggle not only with the extraction but also with the determination of data relevance. In a nutshell, data must be collected from different sources, integrated and then analyzed to produce dynamic reporting and actionable intelligence.
The fast track to Business Intelligence
KPMG has helped a broad range of clients across multiple sectors to reach their full potential of data and knowledge use in their business. From alternative investment funds to large public sector institutions, and from automation needs to efficient data visualization and dashboard creation, we have been able to help our clients reach their goals of efficient decision-making and monitoring.
We created a four-part Business Intelligence (BI) framework that takes a broad and comprehensive approach to developing your strategy in line with your specific needs. Each service offering within the framework can be delivered individually or as part of an integrated package.
- Business strategy alignment: The strategic foundation. This involves establishing the vision for BI and translating it into a framework that communicates and measures business strategy at all levels of the organization. Critical success factors are identified., and KPIs are defined to track each objective.
- Performance management process & reporting: The pivot point. A framework is built for business-unit and enterprise-level performance management based on four key steps: measurement, performance reporting reviews, tracking & remediation, and rewards & compensation. We focus on the delivery of information that can change business performance outcomes.
- Governance: The guiding principles. It is essential to design a governance structure that includes a clear articulation of the roles and responsibilities for BI. You can establish principles, processes and the organizational structure required to ensure integrity and alignment of information to meet business needs.
- BI platform: The looking glass. The link between data dictionaries and business reporting requirements is provided by designing the visual and functional aspects of reporting dashboards. Where applicable, BI tools are evaluated and recommendations provided.
Bringing together business and technology will enable you to deliver value from your data at the speed of business. Start now!
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