Top Ten ePM trends for Next Decade – #7
Trend # 7 – One Minute Analytics
Many would have read the book ‘One Minute Manager’ by Kenneth Blanchard and Spencer Johnson. This book was the pioneer in management education to effectively reach better performance in business and leadership. While this book highlighted 3 key secrets – One Minute Goals, One minute reprimand, and One minute praising, in the next decade every manager needs a 4th secret to be successful and that would be ‘One minute analytics’.
What is One Minute Analytics?
With mobile, tweeting and googling ruling the world, business users are going to be demanding information that they need in ‘One Minute’. From an era where Managing Spreadmarts through SAP EPM ruled the world globally, ability to pull information to analyze and make decisions would be needed in as short as ‘One Minute’. This is going to get to the point where it should be as easy as searching and finding information you need through google with keywords search.
‘One Minute Analytics’ is going to be the key goal for every Performance management initiative in many organizations. Few examples of ‘One Minute Analytics’:
– The Tech Savvy CEO of the next decade would like to pull market share information across his business lines in the midst of his board meeting, from his mobile, with data flowing from market research database and internal sources
– The Chief People Officer would like to pull the revenue per employee information by geography, benchmarked against other competitors, in an operational review meeting where he is negotiating a strategic salary increase – updated upto last employee, in a minute
– In a S&OP review that is conducted on web collaboration, the demand planner, supply planner and financial analyst would like to pull capacity utilization of high cost and low cost plants before agreeing on their S&OP plan
– Strategic Planner and Chief Sales Officer are sitting together for a forecast review with their key planning analyst and they would like the analyst to quickly pull a forecast report based on past ten years sales trends (read The specified item was not found.)
– Annual Operating Plan review is on. CEO reviews the plans, he is not impressed with the growth, profitability and sustainability metrics projected. Wants the CFO and Office of PM to get him the revised plan with profitability impact based on change of the key drivers – growth, better sustainability metrics
– Regional Business VP gets some free time on the weekend and wants to understand his bottom 25 profitable customers, and send action emails to the account managers of those customers
Do the above examples sound familiar in a normal perspective? While many organizations have evolved and got to a point with computer solutions, using different technologies, to get to the above needs, yet the important point is, results cannot be achieved instantaneously and the data is not the latest, or it is too slow and the business user/manager gets frustrated, relies on intuition/thumb rules to make decisions .
In the next decade the innovations in web 2.0, mobile computing, The specified item was not found., SAPPHIRE Reflections – Can In Memory Analytics Change All? incorporated into ePM solutions are going to drive towards this important business need of ‘One Minute Analytics’.
More to come, stay tuned…..