BAM! Part 2: Smarter Choices Require Better Information
My previous article in this series discussed how a major financial institution saved millions of dollars by deploying a business performance solution to address an error-prone business processcircuit procurement. This article and the next discuss the broader vision of the real-time enterprise and how business activity monitoring (BAM) and business performance management (BPM) fit into that vision.
In many organizations, key executives still make key decisions based on critical data collected days or weeks prior; this includes data for inventory, sales, forecasting, budgeting, and so on. As the market becomes more competitive, having more timely data has increasingly become a competitive advantage. This fact led to the concept of real-time enterprise (RTE). The central theme of RTE is that an organization should be able to react quickly to market changes; to do so, decision makers must make decisions with access to timely data and in the proper business context. The RTE concept has served as the foundation for initiatives such as utility computing (popularized by IBM) and the active enterprise (popularized by HP).