The Facts...and Nothing But the Facts!

Topics:
Strategic Management Tools
Tags:
Analytic Application,
Fact,
Management,
Marketing,
Pricing,
Tools & Techniques
Source:
Thomson

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Overview: Facts should lead to better decisions. Facts provide the basis for improved decision making as well as monitoring or measuring the performance of the decisions over time. The advent of business intelligence tools made it easier to access business facts that can help to make better decisions. However, it's analytic applications that will make "managing by fact" mainstream. The term analytic applications was coined in 1997 by IDC to refer to packaged application software designed to predict, measure and optimize business performance. Many types of analyses fall within the various categories of analytic applications. One of the category is business peformance management which includes financial budgeting, consolidation and forecasting and its most critical component includes balanced scorecards, is the more bottom-up analysis of activity-based management or activity-based costing.

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Format: HTML | Date: Aug 2001 | Pages: 1

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