How to Use Strategic Planning and KPIs to Achieve Business Success

Strategic planning and KPIs are powerful tools for achieving sustainable business success. Strategic business planning is the process through which corporate executives devise a strategy to fulfill the company’s main purpose. First, the business owners state the main purpose or objective that the company is meant to achieve – mission and vision statements are written down to set the company’s overall direction and philosophy. This is followed by an analysis of the company’s strengths, weaknesses, opportunities, threats, competitors, collaborators and target consumers. Then long-term strategic goals or objectives are set for the entire company and its major divisions. Finally, short-term tactics are formulated to achieve these corporate objectives.

An effective planning process will enable business owners to take charge of their company’s future and focus on the most important factors that deliver outstanding performance. The performance of the business can be effectively monitored and improved through the use of appropriate KPIs. In this post, we will be discussing the process of creating strategic business plans and KPIs that will produce the desired business growth and success.

Strategic Business Plan

 

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How to Choose KPIs to Achieve Strategic Goals

Choosing the right key performance indicators (KPIs) can dramatically improve the performance of an organization. KPIs are an excellent tool to achieve strategic business goals. But only carefully selected KPIs actually provide the information required for monitoring and assessing performance. Whether you are a business owner or part of a management team, you need to know the steps required to select KPIs that aid continuous improvement. In this KPI article, we will be discussing the process of choosing KPIs that drive the achievement of strategic and operational objectives.

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What are Key Performance Indicators and Why Are They Important?

What are Key Performance Indicators and Why Are They Important?

Key performance indicators (KPIs) are benchmarks used to measure results in an organization. Effective use of KPIs can drive improvement and growth in any company or business. KPIs must be relevant and streamlined to suit your type of industry or business. This article provides a brief introduction to KPIs and discusses their characteristics; it also provides relevant examples and insight on how to choose KPIs for your organization. KPIs is also a very important knowledge in order to correctly implement BI. So to make sure BI Projects are successful, in the coming months, I will cover some KPI knowledge.

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OBIEE FusionCharts Part4 – FusionCharts Configuration

OBIEE FusionCharts Part4 – FusionCharts Configuration

A quick link to previous parts:

Part 1 – Installation

Part 2 – Data Integration

Part 3 – Advanced Integration

I have been extremely busy lately with a couple of POCs as well as working on Dodeca and Essbase, hence the delay of Part 4. I should of guess that you probably worked your way finishing it off by going to the FusionCharts documentation page here and the knowledge base here. I would still go through basics of configuring charts to get you guys started. If you need further skills on this, please refer back to FusionChart documentation since they are extremely easy to follow!!! At least much easier than any Oracle documentation.

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OBIEE FusionCharts Part3 – Advanced Integration

OBIEE FusionCharts Part3 – Advanced Integration

A quick link to previous parts:

Part 1 – Installation

Part 2 – Data Integration

At this point, everyone should have completed Parts 1 and 2. I can see that there are quite a lot of feedback and views, so I’ve decided to go a bit more with advanced integration.

This part will cover 2 areas which is integrating presentation variables for your header as well as multi-series charting.

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5 Common Dashboard Design Mistakes

It’s always easy to criticize but you will definitely agree with the following 5 common dashboard design mistakes.

1. You try to explode the audience with data without context or objective

This is always the case since the BI project team constantly receives new requirements from different fields of users or groups. In the end, they need to come up with a design that fits all departments and users. The end result is disastrous since the only way to do this is the explode the dashboard with data and various targeted visualizations causing inappropriate display of data/media to end users The broad range of end users will not be engaged as the dashboard will contain metrics not specific to them and information they don’t understand. Moreover, there will be no actionable intelligence inside and resulting in low engagement rate or high bounce rate.

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