Everything you need to know about the relationship between BAM and KPI’s

Get to know the relationship between BAM and KPI’s

We have already talked on the blog about BAM tools and their importance for business continuity. In this article, we’ll cover the relationship between business monitoring tools and KPIs!

What is a KPI?

KPI stands for key performance indicator. In the business world, KPIs are quantifiable measures that serve to understand whether the company’s goals are being met or whether the strategy needs to be modified to achieve them. For example, productivity KPI is very important to measure the productive capacity of a collaborator. This indicator shows us the relationship between the work produced by a collaborator and the resources used for this purpose. For example: a worker installs 20 m2 of floor in an hour. His colleague can install only 17 m2 of floor in the same time, being less productive than the first.

Relationship between BAM and KPI’s

Companies that decide to invest in a BAM system must have mechanisms to continuously measure the business, because only with constant analysis does investment make sense.

In order for a BAM system to be well implemented and to present practical results it is necessary to follow some good practices, of which the following stand out:

– Survey of critical business processes

– Define which metrics you need to analyze

– Find the best way to compile the information present in the various systems

– Present the information in an intuitive dashboard and adapted to the needs of each user

– Ensure historical data and make projections based on real-time data analysis vs. historical data

– Constant analysis of results

Analyzing performance consistently ensures that more attention is paid to meeting the objectives. An efficient process must be planned and controlled.

Continuous performance monitoring plays a key role in planning and subsequent control because it provides information on processes developed by the organization. The effectiveness of any control strategy depends to a large extent on the correct suitability of developed performance metrics and KPIs.

 

If you want to know more about the importance of monitoring tools download our free ebook and understand how a BAM system can change the whole management of your business!

 

Find how to take full advantage of Big Data

Big Data is a term that has been in vogue in recent months. Big Data is the term that describes the immeasurable volume of data (structured or not structured) that have a daily business impact. More important than the amount of data, is what companies can effectively do with this data. According to IBM, by December of this year there will be three times more devices connected to the internet than people in the world. This information is more than enough proof of the amount of data that is generated every minute, which is a challenge for companies. What to do with so much information? How to take advantage of the data generated daily? In this article we will show you how to take full advantage of the potential of Big Data.

Analyze the business in real time

Information is growing at a very fast pace, which makes its analysis increasingly difficult. The solution is to analyze the data in real time to get the most out of the information. Products like Multipeers allow you to analyze every second what is going on with the business. In this way, you can make the most of the data to make the best decisions for the business. Allying the large amount of data generated in companies to a real-time analysis allows you to gain essential insights for business success.

Better data collection

The data come from the most diverse channels and through Big Data it is possible to centralize them and group them by affinities. It is possible to be closer to the customer through the collection of data through questionnaires, applications, loyalty cards, among other instruments. The data collected is essential for assertive planning of marketing and communication actions.

Greater effectiveness of the business

More than knowing the market, companies are able, through Big Data, to use the data to change the business and increase the return on investment. Using analytical expertise allows companies to create new business indicators and analyze them more comprehensively and objectively. In this way, they will achieve better levels of income that will be reflected in the success of the business.

Have the right tools

It is imperative that companies have the right tools to deal with the vast amount of data they are creating every day. Datapeers, for example, is an innovative solution that helps companies meet legal requirements and improve the quality of development processes, ensuring the protection and confidentiality of data. The new EU data protection regulation reinforces the importance of information and the increasing need to protect it.

4 Myths about information management

Myths about information management

Managing information and data in companies is one of the main concerns of managers and is a topic that has been in vogue in last months. Threats to information security appear more and more in more and more varied forms and it is difficult to manage all the data of the companies in a safe and effective way. In this article, we will demystify 4 generalized ideas about information management that will help you better manage your company’s data!

Myth: data security can no longer be guaranteed

Computer attacks are increasing and there is increasing variety in attack forms. However, it is possible to reformulate information security strategies and change some routines: checking your antivirus regularly, changing passwords frequently and choosing good Cloud services are some tips to ensure greater security of internal information.

Myth: we cannot prevent, just react

The most frequent threat today is called ransonware. In this attack, hackers steal data and request redemption in BitCoins to return them to the company. This attack occurs by sending an email to a company employee who opens it without realizing it is a threat. A malware download is automatically downloaded to the computer. This shows us that investing in employee training is essential. Awareness-raising campaigns on the importance of information security is a form of prevention.

Myth: upgrade the systems ensures the protection

In fact, a system upgrade can pose an even greater threat to data security. It is essential that companies test the upgrades in their own environments before starting to effectively update the system. This way you can detect threats and eliminate vulnerabilities of the update.

Myth: Information management only concerns IT managers

In an organization it is essential that all employees are committed to the issue of safety. That is why the awareness campaigns for this topic are so important. The responsibility of protecting the confidential business data is of everyone who works there. In addition, the more information that managers gather, the more confidence they will have when making decisions. Big Data and real-time data analysis are two growing trends that are changing the way we manage business information.

Protecting your company’s information is critical so you can ensure that no confidential information is passed abroad. Prevention and training of employees together is the key to ensuring that data is protected and secure. Products such as Datapeers are increasingly needed in today’s business environment as they enable the protection of information and ensure compliance with the new data protection regulations, which will enter into force in May 2018 in the European Union.

7 habits that all leaders must adopt

Know the 7 most important habits that all leaders should adopt

The leadership ability is to be able to lead a group of people that results in a team that produces good results. The role of a leader/manager of a company is not always easy: he has to be able to manage, motivate and encourage his teams so that they feel committed to the individual and global goals of the organization. In this article, we’ll introduce you to 7 habits that all leaders must adopt to make their management effective!

Know how to listen
This advices fits into any area of personal and professional life. People say that as we have two ears and only one mouth, we should talk less and hear more! In the business world, the leader must know how to listen to his employees because only then he will be able to find problems and implement improvements. When the leader listens to his or her employees, a closer relationship is established between them and together they will be able to find answers that will be beneficial to management.

Constantly evaluate the business
“A business that produces nothing but money is a poor business”: the celebrated phrase is by Henry Ford and still stands today. A good leader should evaluate a business as a whole and not just focus on money. The manager should be able to assess the financial aspects, but also the aspects related to employee motivation, working conditions and social impact of the business.

Be resilient
Resilience is the ability to deal with defeat and is one of the characteristics that must be worked out so that we know how to succeed. All managers have to be prepared to make mistakes and fail. A weak leader, after a defeat, will feel frustrated and will stop taking risks and will inevitably fail to get good results. A good leader will look at defeat as “a stepping stone to success” as they will be motivated to do more and better on the next try.

Simplify processes
“Simplicity is the supreme sophistication”: this phrase was on the first flyer of Apple and was a philosophy followed by Steve Jobs. Steve Jobs eliminated all the accessory elements and focused only on what was really important. Managers tend to complicate everything from creating reports to holding extensive meetings. A good manager should be able to present the information to his team in a simple and easy-to-understand way so that the work can flow at a good pace. This increasing need for this simplicity was one reason why software such as Multipeers has emerged, allowing you to analyze information in real time in a simple, practical and intuitive way.

Give Feedback
A good leader should always give a constructive opinion to the work done by his team. When there is no communication from the leader or manager, the employees will feel discouraged and will feel that their work have no importance. If a job has many mistakes, the leader should not criticize the employee in front of his colleagues as this will have a negative effect on his work. Criticism must be done on its own and always in a constructive way.

Know how to delegate
It is essential for a leader to delegate tasks. Otherwise, you will be overworked and you will not be able to complete all the tasks. Often leaders don’t delegate because they don’t trust the team enough and this causes them to have a work overload, which is not beneficial to them or to the team. The manager has to know his team well to know who can deliver each task.

Lead by example
“Look at what I say and don’t look at what I do” is a philosophy that cannot be followed in the business world. The leader is a mirror to the collaborators and is the crucial example. More important than words are attitudes and actions and therefore, the leader should have as main concern lead by example. It is only through this kind of leadership that it will enable people to follow and commit to the goals of the organization.