BI: Key Performance Indicators

BI often uses Key performance indicators (KPIs) to assess the present state of business and to prescribe a course of action. More and more organizations have started to make data available more promptly. In the past, data only became available after a month or two, which did not help managers to adjust activities in time to hit Wall Street targets. Recently, banks have tried to make data available at shorter intervals and have reduced delays. The KPI methodology was further expanded with the Chief Performance Officer methodology which incorporated KPIs and root cause analysis into a single methodology.
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KPI example

For example, for businesses which have higher operational/credit risk loading (for example, credit cards and "wealth management"), A large multi-national bank makes KPI-related data available weekly, and sometimes offers a daily analysis of numbers. This means data usually becomes available within 24 hours, necessitating automation and the use of IT systems.

Gilbert on Tuesday, February 21, 2006

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