EPM Research on U.S.A. State of the Art
Recently carried out by the Cranfield School of Management, and sponsored by the world’s largest enterprise software company Oracle, the report finds that many global enterprises are struggling to capitalise on the full value of enterprise performance management (EPM). No surprise there - but what really captured my attention were the survey questions and how they might be used to structure an initial dialog with the executive team in building an effective EPM strategy.
The research is structured using an evidence based management model to understand how data transforms over time to add value to an organization. At each set of the data evolution, from data to information to knowledge to insight and finally value, there are specific questions that companies can ask themselves to gauge their EPM capabilities and relative maturity.
Data to Information
- Are we measuring the right things correctly and do we have a way to deliver this information to the right people in a timely and consistent way?
Information to Knowledge
- How are we engaging all levels of the organization and are we measuring, to control, learn or both?
Knowledge to Insights
- Will we use EPM to validate our current strategies and assumptions?
Insights to Value
- How will we measure and define success - internally, externally, or both?
The sample size for the study was 1,500 companies in the US, and the results from the questions shouldn’t be of any surprise. I recommend it for the questions and insights they were able to draw from the study. What’s missing is a deeper dive into an EPM maturity model where we can look at the best practices of those companies that are well on their evolutionary way to gaining value from insight, or more importantly, how do the benefits from EPM position a enterprise to compete in today’s global and new normal economy?
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