If your company is struggling to match the promise of BI and Performance Management (CPM) technologies with the reality of day-to-day work flow and implementation challenges, take heart: you are not alone. According to a recent Ventana Research study of BI and CPM, customer that examined the maturity and direction of technology adoption strategies, a significant percentage of customers face considerable obstacles.
- A mere 9 percent of research participants are very satisfied with their organization’s BI efforts. They have only basic BI capabilities, such as querying sources for specific data (74 percent), generating reports from data (74 percent) and accessing data from a spreadsheet for further analysis (70 percent).
- The capabilities organizations are currently working to deploy are only somewhat more sophisticated: communicating data in the right format (27 percent), searching for data (26 percent), presenting data effectively (25 percent) and creating measures and metrics (24 percent).
- The research also found a small but growing desire to provide mobile device support for BI and performance management as well as what-if scenario analysis and collaboration.
As Julie Langenkamp at Information Management Online notes in a post on the Ventana study, the findings “indicate that most organizations revealed they’re still in early stages of development, with only 15 percent at the highest innovation level of maturity in the Ventana Research Maturity Index. Size of the organization was a relevant factor, and organizations with 10,000 or more employees, or more than $10 billion in revenue, found to be more mature. There is growth in advancing BI into performance management in the areas of operations, finance and customer management in more than half of organizations, and a strong desire to improve in 41 percent of them.”
“The market for BI has been advancing for decades, but organizations have not achieved the value of deployments with lack of sophistication use of technologies and overuse of spreadsheets,” says Mark Smith, CEO and EVP Research of Ventana Research. “But making BI efficient is not sufficient, as helping organizations enable performance management is just as important. Both BI and performance management are not as mature as you think, as this research found that we are at an inflection point of improvement.”
More than anything, the Ventana study shows that effective performance management initiatives require a substantial investment in time and resources – beyond the capital invested to acquire the technology. At PerformanceG2, we have seen many customers make substantial investments in software and services, only to fail to grasp the challenges of user-adoption, change management and end-user training required to ensure long-term success. This is why all of our service engagements include a post-implementation training program that ensures that both administrative and business users are sufficiently trained to get the most out of the new technology. In our experience, effective user-adoption is ofter the key variable in the success or failure of any CPM or BI initiatives.
For more information on CPM and BI services and solutions that can help your organizations, connect with us at (877) 742-4276 or email us at firstname.lastname@example.org