Two software applications I follow, price and revenue optimization (PRO) and sales compensation and incentives, can be highly complementary when used together. Unfortunately, since they typically are developed and sold by different kinds of software vendors, scant attention has been paid to the value of using them in tandem. I advise companies that have adopted a PRO strategy to use an incentive management application also to support and reinforce their optimization efforts. It is also part of...
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Topics:
Predictive Analytics,
Sales,
Human Capital Management,
Office of Finance,
Operational Performance Management (OPM),
Business Analytics,
Business Performance Management (BPM),
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Workforce Performance Management (WPM),
Price Optimization,
Profitability
Predictive analytics can be valuable tools for performance management. When the term is applied to planning or forecasting, many people take it to mean the ability to automate plans or forecasts. It’s true that using predictive analytics correctly is likely to enhance their accuracy, but these techniques do not eliminate the need for judgment; in practice, many organizations may realize more value from applying predictive analytics to assess results than to forecast outcomes. Moreover, as...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Operational Performance Management (OPM),
Budgeting,
Analytics,
Business Analytics,
Business Intelligence,
Business Performance Management (BPM),
Financial Performance Management (FPM),
Information Management (IM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Workforce Performance Management (WPM),
Financial Performance Management,
Integrated Business Planning
I think one of best epigrams attributed to Mark Twain is, “Everyone talks about the weather but nobody ever does something about it.” This also has relevance to the situation with corporate planning and budgeting. Bemoaning its lack of value and calling for some sort of change goes back a long way, but few companies have matured their process. In the 1970s something called “zero-based budgeting” was all the rage in business and accounting periodicals. It was energetically advocated by President...
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Topics:
Planning,
Predictive Analytics,
Sales,
Office of Finance,
Operational Performance Management (OPM),
Budgeting,
contingency planning,
Business Analytics,
Business Collaboration,
Business Performance Management (BPM),
CFO,
finance,
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Financial Performance Management,
Integrated Business Planning
Over the past six years big technology corporations have been acquiring all sorts of software companies, accelerating a general consolidation of the software industry since the dot-com boom ended in 2001. The consolidation has been driven in part by the deceleration of technology innovation in the business software market. Technology evolution, however, has been steady and progressed far enough now that I think we’re about to witness a revolution in how companies use analytics in business...
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Topics:
Big Data,
Mobile,
Planning,
Operational Performance Management (OPM),
Budgeting,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Business Mobility,
Cloud Computing,
IBM,
In-memory,
Business Performance Management (BPM),
Cognos,
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Workforce Performance Management (WPM),
acquisition