Basically, executive dashboard is integrating all of information throughout the entire business process. The most beautiful thing about the executive dashboard is that it puts all of data to one place, so managers don’t need to log in each management system to look for some certain data to do the overall analysis. It saves much time and is effective. Besides, executive dashboard is helping to present metrics, images, and diagrams from the systems that companies is currently using such as accounting and finance software, customer relationship management system, and supply chain system on a digital blackboard that everybody could visually see it. In other words, it is an easy way to build up an overall picture about the company business performance. …show more content…
It means once any problems are realized, company could know which place in the business chain get trouble or where is the key to solve the problem because of the business map created by the executive dashboard and fix it right the way. It is saving a lot of time and increase the efficiency of the whole business management, because managers don’t need to do investigation in each level of the organization and each link of the business chain to finally find out the source causing the problem and then fix it. Besides, the dashboard could visually show the difference between the goals that managers set in the strategic plan and the actual results. So managers can easily measure how their work helps to achieve their established goals. And this could also help people in each of the departments in the organization to evaluate their previous work and help them to make a clear mind about how close or far away they are to meet their goals, and then figure out what they need do next. By the way, the dashboard is a good way to judge employees’ working performance by themselves and motive them to improve their …show more content…
The trinity strategy could help to do a wonderful job on the web analysis for different business purposes and learn from the metrics to get some actionable insights to do business operation. Here are three things that trinity strategy focuses on. The first one is the users’ behaviors from a daily basis. The key here is not collect the data and count the numbers of clicks or hits, but find the meaning behind every click and study the motives behind users’ behavior on the website. What really matters here is not how many data we can get but how much we know about the web users and understand why they do that on the site page. The second focus about trinity strategy is about outcomes, which is more about the difference between the actual results and the established goals, rather than how well your website is. What is emphasized here is how much we still can do to improve the entire business to next higher level, but not how much we have already done. The third thing that the trinity mindset is talking about is experience. The experience we are talking here is not how we handle people and deal with real situations. The experience in web analysis depends on how well we could understand our customers from analytical data basis. It means that we could find out the meaning behind customers’ tiny actions on the websites, and get a sort of mind about what those customers really want and what
According to Sharma, Jain, and Arora (2012), strategic monitoring is a system set to measure progress of the strategies set in place in regular intervals. Strategic monitoring observes and records the progress of the strategies implemented in health care organizations. Moseley (2009) states that strategic monitoring notes down the “gaps between the initial assumptions and new environmental conditions and between the initial goals and current performance” (p.254). It helps to make sure the action plan is going as planned and if not what needs to be changed to make the plan successful.
At the very beginning of the internet age in the early 1990’s, web analytics was only available to a few, large organizations that could sufficiently invest in its effective implementation. Small businesses were left in the dark in gaining insights about their website. The only viable option was to survey customers through the mail or in-person to evaluate whether they visit the site, when they visit the site, for how long they visit the page, and any recommendations that they had for website improvements. This approach can be relatively costly, and produce results that are unreliable. With the onset of Google analytics, small businesses were finally enabled to answer those critical questions regarding website performance without having to
...mensions correctly it will cause employees to become engaged, evolved and help with decision making in the organisation.
The balanced scorecard can be defined as a strategic planning system used to align business operations to the strategy of the organization, improve both internal and external communications, and monitor overall performance of the organization and its individual departments against strategic goals. The balanced scorecard views an organization from four unique perspectives: the learning and growth perspective {encompassing employee training and corporate culture}, the business process perspective {encompassing internal business processes}, the customer perspective {including the level of customer focus and customer satisfaction}, and the financial perspective (Kaplan & Norton, 1996). Organizations are urged to develop metrics, collect and analyze data as it relates to these perspectives. In addition to viewing the organization from these perspectives, the inclusion of strategy –maps, a communication tool to visually represent how these strategies work together to create value, enable the organization to improve on the internal processes that make up the business process perspective (Balanced Scorecard Institute, 2014).
Walmart is a retail giant that just about everyone in America has purchased something from them. It is a one stop shop for anything that a person could ever need. Walmart stores can be found anywhere in fact most people are less than an hour drive away from a Walmart store. Walmart’s success has put many companies out of business. The chains success is primarily from low prices and using an information technology system to meet customer demands giving them a competitive advantage. Walmart’s first major use of information technology came in 1975 when the company leased an IBM computer system to track inventory in warehouses and distribution centers. Computers have come a very long way since this time and are used almost everywhere. But in 1975 this was cutting edge technology and gave Walmart the competitive advantage over other retailers. Another thing that Walmart used to be revolutionary in their supply chain was the use of scanning barcodes in 1983. Before barcodes objects had to be read by a skilled cashier. With barcodes all that was needed was a quick scan and the computer would do all the work. This greatly sped up checkout time and made tracking inventory and data collection much faster and easier for both customers and the employees. Since this time it has become an industry standard for products.
Another advantage is providing feedback to employees on their work performance. Instead of listening to a manager tell an employee how to do a job, one may review a tape to see exactly what they are doing wrong and judge the employees performance. In this case, monitoring is used as a tool to show employees their work habits and what they need to change to improve their performance. Employees generally like this because they can see for themselves their weak and strong points, and they can use the information to improve their work methods. This knowledge can increase employee performance and efficiency.
In the beginning, businesses used information technology for automating the processes primarily to reduce labor costs. Subsequently, information technology is used for delivering information with speed and accuracy.
Multiview looks at the human activity within the organisation and analyses it in order to determine a problem theme. Using diagrams to give an overview of human activity within departments make it easier for users to pinpoint discrepancies with workflows. Once identified, users of the system can assist the developers to make the necessary changes that will increase efficiency with human activity.
Enterprise Resource Planning (ERP) systems integrate (or attempt to integrate) all data and processes of an organization into a unified system
Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.
...c management or planning presents a structure or agenda for dealing with issues and solving problems, therefore, understanding potential risks or pitfalls of strategic management and being prepared to deal with them is critical and vital to success. Strategic management not only permits top leaders and managers to be more proactive than reactive in building or developing their own potential or outlook in an organization, and it also lets them to make the first move and influence activities, consequently, executives and management can control or in charge of the company’s own future, and achieve its main goals and objectives. Overall, increasing cost-effectiveness and efficiency, improving the value for its stakeholders, and advancing customer services and management excellence are the key objectives of strategic management and decision making in an organization.
The dynamics of our society bring many challenges and opportunities to the business world. Within the last decade, hundreds of jobs have emerged particularly in the technology sector to help keep up with the ever-changing world and to compete on a larger and better scale than the competition. Two key job markets and the basis of this research paper are business intelligence or BI and data mining or DM. These two fields play a very important role in small to large companies and are becoming higher desired sectors within the back offices of the workplace. This paper will explore what the meaning of BI and DM really is, how they are used and what we can expect as workers and learners of the technology and business fields for the future.
It helps management to identify the specific area that needs to be highlighted by the organisation.
...reparing them for anticipating the need for change that will be necessary for the organization. This is most applicable for the long run change because if the senior management is working for the environment today they will be efficient to keep a check on the long range changes too, that are being forecasted for the future.
As Schermerhorn states in Management planning, organizing, leading, and controlling are the tools needed by managers to accomplish performance goals. It is crucial that managers be able to recognize and act upon problems or opportunities as they arise. Planning is perhaps the cornerstone of the four processes. All good processes were at some point given great detail so as to anticipate possible problems and solutions to those problems. When the Honda Motor Company decided it needed to refine its inventory they didn't just jump at the first idea that was proposed; they first set their objectives and discussed ways to meet those objectives. After giving careful consideration to processes and the streamlining of those processes human error rose as the top need for change. Sounds simple you might respond; in reality it is much more complicated.