Do you have performance management? If you don’t you are likely talking to some software company about it. What is up with all of this talk about dashboards, scorecards, planning and budgeting tools, data visualization, closed-loop performance management and what can it actually accomplish for your organization? What value are other organizations seeing from their investments in performance management technology, if any? A recent research report from BusinessWeek uncovers the mystery behind what organizations are actually realizing from these business driving solutions, some of the highlights include:

 

·         Two thirds of the senior executive whose companies use performance management say it has a positive effect on shareholder value

·         Organizations exercising world-class performance management practices enjoy a 2.4 times market returns of typical companies in their industry

·         The broader the distribution of BI and performance management tools, the higher the potential return on the investment

·         The biggest return on investment can come from extending performance management to front-line workers, like telemarketers and collections staff

 

So if you haven’t already, give your dashboard a hug, it certainly deserves it.