Research from SAS has highlighted ways that analytic technology can help organisations grow, even in a down economy. Professor Tom Davenport’s latest study, ‘The Rise of Analytical Performance Management’ is based on company interviews and a global survey. It reveals a clear progression of company activities with regard to analytical performance management. They range from prosaic (inability to file required financial reports) to highly sophisticated (incorporating analytical performance management into decisions and actions). More than 40% of survey respondents are “definitely moving in a more analytical direction” on performance management. Another 28% say they would like to become more analytical. Results suggest that, given better tools, more widespread awareness of benefits, and greater understanding of methods and approaches, substantially more organisations will practice analytical performance management in the future. “Performance challenges are cropping up faster and faster,” said Davenport. “Companies have increasing amounts of performance data, but they need to take better advantage of it. Analytics can help decision makers identify key business drivers so they can leverage opportunities and mitigate threats faster than competitors.”
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