The most popular and comprehensive Open Source ECM platform
Let us know more
Predictive Metrics: The Edge that Can Boost Business Profits by 20%
Less than half of business and IT leaders say that they don’t have access to the metrics that would help them understand their businesses, according to a report by Gartner. 71 percent say that they know which key performance indicators (KPIs) they should be tracking, but only 31 percent said that they could call up the information in a reporting dashboard.
By deploying predictive business performance metrics, Gartner estimates that business could boost their profits by 20 percent.
Samantha Searle, Gartner BPM research analyst, said that “using historical measures to gauge business and process performance is a thing of the past. To prevail in challenging market conditions, businesses need predictive metrics — also known as ‘leading indicators’ — rather than just historical metrics. Business process directors who don’t apply predictive metrics to cross-boundary business processes will leave their organizations vulnerable to the risk of failing to execute their business strategies. Business process directors should identify the business processes that are critical to driving strategic business outcomes and strategy execution, and determine how best to measure business outcomes in a way that triggers human or automated actions before an undesired outcome occurs. This ability will be crucial in determining the organizations who survive the shift towards a digital world and those who will be left behind.”
The software tools that enable the monitoring of predictive metrics are business process management suites (BPMS) and operational intelligence platforms. Gartner predicts that BPMS sales will grow 8.8 percent over 2013 sales to $2.8 billion this year.
