Customers today are becoming increasingly demanding and rightly so. An average customer has several choices in the market that he/she can select from. However, having said that, a happy customer is also a loyal customer. Most companies have realized this and have taken several steps to ensure that their customers are satisfied. However, “change” being the only constant, the tools of today are not enough to cope with the needs of tomorrow.
Every management process has a strategic and operational viewpoint. Even if the senior management brainstorms to bring together an over-arching, way-forward process strategy, the tactical/operational views of that strategy tend to be perceived very differently. Moreover, though these two viewpoints work towards the same goal, they can negatively impact each other due to operational issues. Organizations use methodologies like “Balanced Scorecard” or “Management by Objectives” for Strategic Planning. There are quite a few Business Activity Monitoring Systems for operational execution. Unfortunately, as the actions impact each other, one needs to go from one system to another iteratively to arrive at the right plan. This can be quite confusing. Hence, a single framework that could provide clarity to all would help smooth the process.
Organizations also need to be up-to-date on their scorecards, since these provide in-depth and real-time snapshots of the current situation. There is enough and more software in the market to help enterprises in their CRM planning. However, these reports are extensive and cumbersome and it takes time to actually find the data that you are looking for. The latency between information visibility and action has increased.
So, what is the solution to these loop-holes? Ramco’s answer comes in the form of “Action Ready Analytics”. Ramco’s white paper titled “Corporate Performance Management” elaborates on a singular central platform that provides an overall snapshot for each concerned party. Actionable processes accompany every insight. This helps individuals to identify relevant information easily and to act on it immediately.
Ramco DecisionWorks has been conceived as a one-stop shop for Maintenance Analytics. All the relevant information required to take decisions for a given objective is provided in a single application. Multiple performance frameworks are provided for the strategic, tactical and operational perspectives, while maintaining a thread of commonality. A workflow-centric solution, it ties the information to relevant, actionable processes including business rules, scheduled triggers, rule-based alerts and workflows.
The following objective-specific information and actionable processes are mapped:
i. Metrics or Key Performance Indicators to measure the performance of various facets of the goal. (Performance Management)
ii. Relevant reports, drilldowns and cubes to summarize/analyze the goal along multiple dimensions. (Business Intelligence)
iii. Optimization models to perform what-if/scenario analysis of the decisions to be taken. (Business Analytics)
iv. Workflows to handle flow of information and action for the various business processes relevant to the given goal. (Business Process Management)
v. Business rules to monitor critical events and initiate alerts/workflow for the given goal. (Event Management)
By associating the above information with the goal/objective, the information becomes actionable. Decisions taken on the basis of such relevant information can be more objective.