Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

Performance management software – improves data analysis

2 July 2021

Performance Management Software improves data analysis

The second major benefit of strategic performance management software applications is the ability to analyze performance data much more effectively and comprehensively. The interactive drill-down capabilities described above are the most intuitive way of exploring and analyzing strategic performance data. However, many of the strategic performance management software applications provide much more sophisticated analysis features, such as:

  • Drill-downs
  • Data visualization (including comprehensive graphing)
  • Trend analysis
  • Impact analysis
  • Correlations and regression analysis
  • Multidimensional OLAP analysis
  • Simulation and scenario features

Using performance management software to visualize data in more graphical formats can be very powerful. In the section above I have described how entire interactive value creation maps can be visualized. Nowadays, many of the software applications come with powerful graphic capabilities that go far beyond what ordinary spreadsheet applications can deliver.

The other important analysis performance management software can provide is impact analysis or the assessment of correlations or regressions in causal models. If organizations have created causal value creation maps or other cause-and-effect logics, they are then able to use the data to ‘test’ and validate their assumed relationships.

Often, performance management has to be viewed from different perspectives and a sophisticated technique is needed to explore accumulated data, and software can help with this. Multi-dimensional analysis tools usually perform this task. With them, data can be stored and examined in a multi-dimensional format similar to an ordinary spreadsheet, but in more than two dimensions. These tools are linked to a graphical user interface (GUI) which provides the results on the computer screen presented in tables or graphs.

Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

The 7 Biggest Business Challenges Every Company Is Facing In 2023

In this article, we look at the seven biggest challenges businesses will be facing in 2023.[...]

Is This The Downfall Of Meta And Social Media As We Know It?

Meta Platforms – the company formerly known as Facebook – is cutting its workforce by 13% – equating to a loss of 11,000 jobs.[...]

The Top 5 Technology Challenges In 2023

When it comes to technology, rapidly changing conditions pose unprecedented challenges that must not be ignored.[...]

How To Build A Positive Hybrid And Remote Working Culture In 2023

In 2023, building a culture that allows a business and its employees to thrive while working remotely is about more than surviving in the “new normal” or post-pandemic society.[...]

12 Practical Steps To Handle Change At Work

Whether it's driven by new technology, shifts in the market, expansion, or cutbacks, work is constantly changing.[...]

The Top 11 Virtual Networking Tips To Boost Your Career

But in a post-pandemic world where nearly all of our networking is done online, what are the best ways to “meet” new people and build those connections?[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts