Management decision-making typically involves a three-step process of inform, analyze and act. In the earliest days of what came to be known as business intelligence, developers created decision support systems that provided information and analytics to help executives and high-level managers choose the best course of action. Working with numbers rather than gut instinct still is viewed as a best practice. After all, a pilot who doesn’t trust his or her instruments is heading for an accident.
Topics: Analytics, best pracices, Big Data, Budgeting, Business Analytics, Business Collaboration, Business Mobility, Business Performance Management (BPM), business value, challenge, closed loop, Cloud Computing, contingency planning, Customer Performance Management (CPM), driver-based, driver-based planning, Financial Performance Management (FPM), financial planning, In-memory, Modeling, Operational Performance Management (OPM), Performance Management, Planning, Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Workforce Performance Management (WPM), Office of Finance, cash management