You know by now that BI & Analytics (BI) technology is used to easily access, analyze and report on data relevant to an enterprise. While CPM is broader and involves the processes, methodologies, metrics and software tools used to monitor, measure and manage a business. As you might know, BI is a critical software component of a complete CPM solution.
Many organizations invest in BI before deciding if or when to implement CPM. They use BI to understand and exploit what metrics and KPIs are relevant to their business. With these sound principles under their belt, they’ll have a better understanding of what additional tools and processes are required to put together their CPM system. This is a phased, iterative approach where companies build their solution as they validate their real needs. Should a company skip the BI phase, they risk acquiring a CPM solution that doesn’t fit their needs well.
Are you currently using either CPM or BI/Analytics? If you’re considering an evaluation of one or the other or both, what are your key requirements? Who is driving the acquisition?