The
importance of understanding the nature of business anomalies as they happen and
taking concrete steps to minimize adverse effects on the business is what
differentiates between successes from failures.
In
recent times fierce competition and the volatile market environment has forced
companies to look at efficiency at a very granular level where monitoring data
at the transaction level could make all the difference between losing millions
to being profitable.
This
is where Operational BI comes into the picture. Allowing you to define Key Performance
Indicators specific to your business, define corresponding thresholds and
alerting the right people at the right time. Unlike Strategic BI It doesn’t
restrict you to your organizational boundaries but also allows you to
collaborate and work closely with your Customers, Partners as well as Vendors
reducing the operational latency in terms of time to respond by say kick
starting a Workflow process to jointly work towards a logical closure or communicate
using different channels to resolve issues.
If you look at Supply
Chain Management, it becomes even more critical as the dependency factor is
very tight and one small delay could jeopardize the upstream or downstream
flow.
In BPO, whether it’s Average
Handling Time, Quality or Customer Satisfaction monitoring them at a
transaction level could make all the difference as real time trending of these
KPIs could put you in an advantageous position and allow you to take corrective
measures before it’s too late.
As you can see these
are some of the areas which we discussed, if you extrapolate, the concept can
be extended to any operational areas of an organization. Whether it’s HR,
Finance, Marketing or Sales depending on your KPIs it will effectively allow
you to be in a better position to handle anomalies and business exceptions.
