Popularized in the '90s, it allows executives to look critically at all numerical information coming into the company. If you’re reading this article, your business probably uses some form of it.
Specific varieties of planning can include financial accounting, from the general to complicated mergers, money management, and financial consolidation; HR tools, like recruiting, training, retirement, and payroll; supply chain management, manufacturing, project management, online sales, or in-person sales… as well as customer relationship management.
It’s a tremendously large field, and future articles will break down individual methodologies more specifically.
Data is only useful to the amount it helps your business. Existing services you already use, like Google Analytics, can tell you a near-infinite amount about customer flow. A savvy accountant with access to your financials could make any number of predictions. Using Enterprise Resource Planning more is less important than knowing how you're using it. Even better is working with a consultant who can give you the right data when you need it.
While every company needs to know its revenues and outlets, much of the rest depends. Click-through rate can be vital in analyzing a new online marketing plan; hours worked and products moved are essential in a warehouse setting.
“What gets measured gets managed — even when it’s pointless to measure and manage it, and even if it harms the purpose of the organization to do so”.
Simon caulkin, 1956
If you’re looking for a specific integration between existing systems, or barely know where to get started, the consultants at Advia Consulting can help.
