Performance Management and Reporting

Master of Accounting

Siska Tifany K, 2001904992

Dear All, 
Please learn the topic "Performance Management Support Business Intelligence and Decision Making
from the PPT and reading materials as guided in the course outline. Then discuss/answer the below
questions by replying this thread. The latest is 30 march 2020. 
The questions are: 

1. Describe, the meaning of business intelligence, 

2. How business intelligence fit together with Performance management. 
3. Provide example (for number 2) 
4. Why financial return is viewed as a result or dependent variable in the business. 
5. Provide real example from your workplace. 

ANSWER

1. Business Intelligence is information that involves raw data that must first be
cleansed and integrated from disparate source systems. For example, an automobile
manufacturer’s warranty claims can be globally analyzed to detect a design problem.

2. Performance management can be viewed as deploying the power of BI, but the two
are inseparable. Think of performance management as an application of BI.
Performance management adds context and direction for BI. BI provides a platform
of transactional data and its partial conversion to useful information.

3. Examples of the importance of using Business Intelligence (BI) for banks are analysis
of historical trends and risk management. Historical trend analysis is the process of
analyzing the historical data of all companies to determine decision making. For
example, by conducting an analysis, the company is able to determine what products
must be released that will be crowded by customers. Meanwhile managing risk is
needed to prevent banking companies from losing.
4. The financial return is a dependent variable, not an independent one. That means
there can be dozens, even hundreds, of interrelated factors the inherent variables
that can collectively contribute to the financial results. However, there is a way to
optimize an organization’s performance.

5. An example from my workplace is that we strive to maintain and improve

stakeholder satisfaction by providing the best possible service.